PUT IN WORK (10/5/2026)
We’re back with another issue, everyone! Last week was a mixed one for the market, with tech managing to finish slightly higher while the rest of the market struggled to stay positive. While the Nasdaq (QQQ) ended the week up 0.7%, the S&P 500 (SPY) finished down 0.2%, and most of the week centered around the same stuff it’s been focused on for the last few weeks: treasury yields, inflation data, oil prices, and—in this case—Friday’s jobs report.
Monday started the week in the red as AI stocks pulled back, resulting in the Nasdaq falling 0.9%, while the S&P 500 dropped 0.8%. Memory and semiconductor names were among the bigger losers, with Arm (ARM), Intel (INTC), and Sandisk (SNDK) all moving lower. Nvidia (NVDA) was one of the more notable successes on the day, with the company announcing a massive increase to its stock buyback plan.
Tuesday proved to be yet another step back as the Nasdaq slipped 0.1% and the S&P 500 fell 0.2%. Despite receding oil prices, investors remained fairly cautious, especially after consumer confidence fell to its lowest level since 2014; that said, memory and AI-related stocks did rebound just a bit.
Wednesday was more of a mixed bag than previous days, but still, both indexes inched lower by market close. Rate concerns eased—even if only slightly—as the latest PCE inflation report came in softer than expected. However, many investors remained concerned about treasury yields, keeping pressure on the greater market.
Thursday brought a small bounce as both the S&P 500 and Nasdaq finished in the green, though not by much. Treasury yields pulled back from their recent highs, which gave investors a little breathing room and propped up the market.
Friday ended the week on a positive note after the September jobs report came in weaker than expected; as a result, the Nasdaq jumped 1.2% and the S&P 500 rose 0.7%, with traders becoming less convinced that the Fed will raise rates again come next meeting. Tesla (TSLA), Nvidia, and SpaceX (SPCX) all had strong days.
(Nasdaq ETF (QQQ) price from October 2025 - 2026 — each candle is 1 week. Chart provided by tradingview.com.)
PORTFOLIO UDPATE
Our portfolio performed more in line with the S&P 500 than the Nasdaq, unfortunately, meaning that by Friday’s close, it ended moderately in the red. That said, this is likely a result of a minor pullback brought about by our portfolio’s overperformance from last week. We plan to hold all currently owned stocks for the foreseeable future. As always, thank you for reading, and happy investing.