PUT IN WORK (10/12/2026)

We’re back with another issue! Despite the Nasdaq’s middling performance, last week still managed to be a positive one for the market at large! The Nasdaq (QQQ) ended the week up 0.2%, while the S&P 500 (SPY) finished up 1.2%, allowing the S&P 500 to shine at last. As has been the way over these last several weeks, most of the week centered around AI stocks, oil prices, and the addition of the upcoming earnings season.

Monday started the week on a strong note as major indices climbed, with the Nasdaq closing at another record high. Nvidia (NVDA) continued its recent run and hit a fresh high, while SpaceX (SPCX) and several storage related stocks also moved higher. That said, Treasury yields remained somewhat high, keeping pressure on investors.

Tuesday kept the momentum going as both the S&P 500 and Nasdaq closed at record highs as Treasury yields pulled back from recent highs. Nvidia stayed near record highs, AMD (AMD) rose after analysts raised expectations, and Marvell (MRVL) climbed after lifting its long-term outlook.

Wednesday brought a modest pullback as markets calmed down after the previous day’s positive performance, and investors digested the latest Fed meeting minutes, which showed that some still expect another rate hike could be appropriate later this year. Chip and AI-related stocks fell, and SpaceX also fell after reports that it was looking to raise money to buy more Nvidia chips.

Thursday was the roughest day of the week for tech with the Nasdaq and S&P 500 falling 1.3% and 0.5% respectively, dragged lower by a broader AI stock selloff. Memory and semiconductor stocks were hit particularly hard, with Arm (ARM), Intel (INTC), and Micron (MU) among the notable decliners. Oil prices also jumped on renewed Middle East concerns.

Friday helped bring the week back into the green. Stocks rebounded as oil prices pulled back, with both the Nasdaq and S&P 500 rising 0.6%; the Magnificent Seven also bounced back from Thursday’s selloff.

(Nasdaq ETF (QQQ) price from October 2025 - 2026 — each candle is 1 week. Chart provided by tradingview.com.)

PORTFOLIO UPDATE

Unfortunately, our portfolio ended on the weaker side last week, likely as a result of its ongoing positive performance up until these last couple of weeks. As market moves grow shorter, our more volatile picks slow down and stabilize, though many still sit very comfortably in the high percentage of gains. We plan to hold all currently owned stocks for the foreseeable future. As always, thank you for reading, and happy investing.