Friday, August 7, 2026

QNTM Daily Wrap — August 7, 2026

Model vs. Benchmark: QNTM's 50-name model portfolio slipped -0.13% today while SPY gained +0.62%, a roughly 75-basis-point lag.

What drove it: The gap traces to positioning, not stock-picking errors. Today's rally was concentrated in rate-sensitive growth and chips after the July jobs report — payrolls fell by 23,000, far below expectations, while the unemployment rate fell to 4.1% — which markets read as reducing the odds of a near-term Fed hike. The S&P 500 rose more than 3% week to date, and the Nasdaq gained 5% thanks to a bounce-back in chip stocks, with the semiconductor ETF (SOXX) up about 7% on the week . QNTM's model, running at a middling 50.0 conviction score with only 2.8% of the 1,422-stock universe flagged high-conviction, held broader, lower-beta exposure and simply wasn't tilted into that single-day semis/growth surge — the same reason it can lag on narrow, catalyst-driven up days even in a "mildly bullish" regime.

Market recap: The S&P 500 closed at 7,757.64, up 0.62%; the Nasdaq gained 1.30%; the Dow added 0.28%; the VIX fell to 14.87 . Elsewhere, tariff talks between the U.S. and Canada continued and Middle East de-escalation hopes lingered, both consistent with today's calmer VIX.

What's next: With rate-hike odds fading, focus shifts to next week's inflation data and how durable this growth-led leadership proves.

Research/education only — not investment advice.