Wednesday, July 8, 2026

QNTM Day Wrap — Wednesday, July 8, 2026

The QNTM model portfolio (50 holdings) returned -0.35% today, trailing the SPY benchmark's -0.24% by 11bps — a modest but real gap in a broad risk-off tape.

What drove it: markets digested a sharp reescalation in US-Iran tensions after American forces carried out strikes against Iran late Tuesday in response to attacks on three commercial vessels in the Strait of Hormuz , and President Trump stated the US-Iran ceasefire agreement was over . That hit sentiment broadly, but the model's growth/quality tilt was pinched: names like Palo Alto Networks fell 5.2%, DoorDash declined 5%, and Palantir Technologies slipped 4.7% — the type of high-momentum software/tech names QNTM's screens favor. Meanwhile energy and select networking/AI infrastructure names ( Broadcom rose 4.5%, Baker Hughes advanced 4.1%, and Nebius Group gained 3.8% ) helped the cap-weighted SPY relatively more, since oil-linked and mega-cap semis carry heavier index weight than model exposure.

Market recap: The S&P 500 fell 0.65%, the Dow Jones Industrial Average lost 1.14%, and the Nasdaq gave up 0.50% intraday before paring; by the close the S&P 500 dropped 0.2% while the Nasdaq trimmed losses