Thursday, September 3, 2026

Market Regime: MILDLY BULLISH QNTM's regime engine reads MILDLY BULLISH for the session, with VIX at a subdued 15.38 — a sign that despite months of Iran-related headline risk, options markets aren't pricing near-term panic.

Conviction: 48.9/100 The average composite across QNTM's scored universe sits right at the midpoint, with only 3.4% of the 1,421 names screened flagging as high-conviction — a signal of a stock-picker's market rather than a broad, one-way trend.

On the calendar today

August ISM Services PMI and expected earnings from Ciena (CIEN) and lululemon (LULU) headline the day. Economists look for the Services PMI at 56.8 versus 54.6 prior , alongside Initial Jobless Claims expected at 205K versus 203K prior . August nonfarm payrolls and the unemployment rate follow tomorrow, September 4.

Overnight & premarket

Stock futures were mixed as investors reacted to escalating U.S.-Iran tensions, higher oil prices and rising Treasury yields. That comes after the S&P 500 and Dow jumped Wednesday after back-to-back losing days. WTI sits near $92, consistent with QNTM's macro tag pointing to a partial de-escalation in Middle East tensions overnight.

What to watch 1) ISM Services PMI — a beat could ease growth worries; 2) Any fresh Iran headlines given oil's sensitivity; 3) Lululemon/Ciena earnings as early reads on consumer and networking demand ahead of Friday's jobs report.

Research/education only — not investment advice.