Friday, September 25, 2026

QNTM Day Wrap — Friday, September 25, 2026

Model vs. benchmark: QNTM's 50-name model portfolio returned +0.08% today, trailing SPY's +0.53% — a real lag on an up day for the broad market.

What drove it: Conviction sits at just 48.2 (mildly bullish regime, only 2.0% of the 1,419-name universe scoring "high conviction"), reflecting a market still digesting this week's bond-yield spike and Middle East headlines. That low-conviction, broadly diversified stance meant limited exposure to today's biggest winners. Top gainers included Meta (up 4.5%) and Alphabet (up 1.34%) , names that drove much of the index's advance; a model tilted toward value/quality screens rather than mega-cap growth momentum would have captured little of that pop. Meanwhile Tesla, Microsoft and Nvidia were among the day's laggards , so any model overweight there also capped gains.

Market recap: US stocks rose Friday as investors assessed macroeconomic and geopolitical crosscurrents that pushed oil prices down and bond yields up in recent days . The Dow edged higher by 0.9%, the S&P 500 and Nasdaq rose about 0.5%, snapping the Dow's three-week losing streak . Oil fell roughly 2.4% to ~$92, as US–Iran peace talks in New York reduced supply-risk premiums, even as renewed Houthi strikes on Saudi Arabia kept disruption fears elevated — consistent with QNTM's "war escalation" macro flag despite calmer index-level price action.

What's next: Watch whether Hormuz-related headlines and long-end Treasury yields (near 5.15%) stabilize, which would matter more for conviction breadth than any single earnings print next week.

Educational research only — not investment advice.