Monday, October 12, 2026

QNTM Day Wrap — Monday, October 12, 2026

Model vs. benchmark: QNTM's 50-name model portfolio was flat (0.0%) while SPY slipped 0.1%, a modest ~10bp edge for the model.

What drove it: The Dow Jones rose nearly 0.4%, while the S&P 500 slipped below the flat line and the Nasdaq Composite sank 0.4% after a winning week, with semiconductor stocks falling. Technology sat at the bottom of the S&P sector table, down over 1.1% on semi weakness. Single-name damage was concentrated: optical/photonics maker Lumentum fell 7.42% amid a broad selloff in semiconductor and AI-infrastructure stocks, while SanDisk fell 6.98% amid caution ahead of earnings. Nvidia also teetered near support levels as semiconductor momentum slowed. QNTM's model is built across 50 names with sector discipline rather than mega-cap-weighted tech exposure, so it largely sidestepped this concentrated semi/AI-infrastructure drag that weighed on the cap-weighted S&P. Conviction sat at a neutral 47.6 across 1,418 names scored, with only 2% flagged high-conviction — consistent with the model's light, benchmark-tracking net exposure today.

Market recap: The Dow was up 0.49% to 51,909, outperforming as investors rotated into value stocks , while oil prices were higher as the Russia-Ukraine energy ceasefire already looked fragile and Iran-backed Houthi militants carried out a deadly attack at a Saudi airport. VIX held low (~15), reflecting calm vol conditions.

What's next: Key bank earnings (JPM, C, GS, WFC) and inflation data (CPI, PPI) are due later this week.

Research/education only — not investment advice.