Friday, October 2, 2026

QNTM Day Wrap — October 2, 2026

The model portfolio returned +0.78% today versus SPY's +0.75% — a narrow outperformance, in line with its RISK_OFF stance. Conviction sits at 48.0 across 1,418 scored names, with just 1.5% flagged high-conviction — a sign the model is staying selective rather than chasing the rally.

What drove it: The tape was dominated by one story. September's nonfarm payrolls report showed U.S. employers added 29,000 jobs, less than expected, while the unemployment rate rose to 4.2% . That weak print pulled yields down and fueled a rally in rate-sensitive and AI-linked names — Nvidia reached a new all-time intraday high of $237.88, pushing its market capitalization past $5.7 trillion . With its momentum/quality tilt, QNTM's model likely captured part of that mega-cap tech strength while its RISK_OFF overlay kept exposure trimmed elsewhere, limiting upside versus a broader SPY pop.

Market recap: The Dow rose 0.5%, the S&P 500 rose 0.7%, while the Nasdaq rose 1.2% . Geopolitics stayed in the background: President Trump sent 9,000 U.S. troops to the Middle East after warning that new strikes against Iran could be on the horizon , with Brent holding above $102 per barrel — the backdrop behind QNTM's "war_escalation" and "jobs_weak" macro flags today.

What's next: With no major data due immediately, next week's CPI/PCE prints and early Q3 earnings will be the key tests for whether this rally holds.

This is research commentary, not investment advice.