Tuesday, September 8, 2026

QNTM Day Wrap — September 8, 2026

The model portfolio (50 holdings) returned -0.66% today, essentially in line with SPY's -0.62%, a modest ~4bp shortfall. QNTM's regime flag stayed RISK_OFF, even as VIX held a relatively calm 15.6.

What drove it: The tape was pressured by a fast-moving mix of tariff and geopolitical headlines. Oil prices extended gains on reports Yemen's Houthis attacked four cities in Saudi Arabia, wounding more than 70 people and setting oil installations ablaze , pushing WTI to $93.64 in QNTM's feed. Separately, Canada followed through Tuesday on retaliatory tariffs on U.S. goods, hitting dairy, furniture, appliances and other categories with levies from 15% to 50% . Mega-cap tech was a laggard — losses were led by Apple (-2.55%), Alphabet (-2.10%) and Microsoft (-2.05%) — while top gainers were Caterpillar (1.65%), Honeywell International (0.95%) and Home Depot (0.88%) , an energy/industrial tilt consistent with oil-driven rotation. Healthcare also came under pressure after Amgen fell 8% and shares were pressured after Novartis' cholesterol drug failed in a closely watched study, raising concerns for Amgen's experimental cholesterol drug . QNTM's model tracked SPY closely, suggesting no major sector bet paid off or hurt meaningfully today.

Broader tape: The S&P 500 fell to 7,707, down 0.15% on the session , a quiet finish given the volatile headline flow.

Next: Markets shift focus to this week's CPI and PPI prints for inflation confirmation.

Research/education only — not investment advice.