Thursday, September 3, 2026

QNTM Post-Close Wrap — Thursday, September 3, 2026

The QNTM model portfolio returned +1.48% today, outpacing SPY's +1.04% by roughly 44 bps. The model's 50-name book, running in a "mildly bullish" regime with conviction at 49.5 (only 3.7% of the 1,422-name universe scored high-conviction), leaned into the session's AI/momentum leadership.

What drove it: The tape's biggest single-name catalysts were Nvidia, which gained on news that it will acquire artificial intelligence (AI) platform Hugging Face , and Snowflake, whose stock soared over 20% this morning after a blowout quarter . A model with AI/software exposure captured that momentum. On the drag side, Broadcom shares dropped, despite beating analyst expectations in yesterday's earnings , a reminder that even solid results can lag when guidance disappoints — a headwind for any tech-heavy sleeve holding it.

Market recap: All three major stock indexes ended in positive territory, with the Dow advancing 0.6% and the tech-heavy Nasdaq rising on solid AI-stock performance . Nine of eleven S&P sectors finished higher, led by Materials and Communications . Fed Governor Waller said he'd lean toward holding rates steady unless there are major inflation surprises, contrasting with Chairman Warsh's inflation-hawk stance . Meanwhile, oil rose after U.S. strikes on Iran and renewed Israeli threats revived Middle East supply concerns , keeping WTI near $91-92 — the war-escalation flag QNTM tracked today.

Next: All eyes turn to Friday's nonfarm payrolls, then a holiday-shortened week and the Fed's Sept 15-16 meeting.

Research/education only — not investment advice.