PUT IN WORK (8/24/2026)

We’re back with another issue! Last week was tough for the market, with tech giving back a lot of its recent strength. The Nasdaq (QQQ) ended the week down 2.4%, while the S&P 500 (SPY) finished down 1.4%. Investors had quite a bit to digest, including retail earnings and the latest Fed meeting minutes.

Monday started the week lower as major indices struggled to maintain momentum. Oil prices rose as talks to reopen the Strait of Hormuz remained uncertain, and most big tech names ended in the red. That said, memory stocks were positive, with names like Sandisk (SNDK), Western Digital (WDC), Micron (MU), and Seagate (STX) all moving higher.

Tuesday was more of the same as the Nasdaq fell 1.3% while the S&P 500 dropped 0.7%, weighed down by chip and memory stocks after their strong start to the week. Marvell (MRVL), Intel (INTC), AMD (AMD), and other semiconductor names moved lower too.

Wednesday finally brought a little relief, with markets snapping their three-day losing streak after treasury yields fell. Investors also digested the latest Fed minutes, which showed that some Fed members were still open to raising rates if inflation failed to cool. Tesla (TSLA) helped lead big tech higher, while Nvidia was one of the few major tech names to finish lower.

Thursday turned lower once again as the Nasdaq fell 1% and the S&P 500 dropped 0.9%; and Walmart (WMT) sank after issuing weaker guidance, raising concerns about consumer spending. Treasury yields and oil prices also moved higher, which added to investor caution.

Friday ended the week on a better note, but not enough to undo prior damage. The Nasdaq and S&P 500 both finished higher, helped by a strong move in crypto-related stocks and some better earnings reactions from retailers like Ross (ROST) and BJ’s Wholesale (BJ). All in all, it was a difficult week, and one that reminded investors how quickly sentiment can shift when uncertainty rises.

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

PORTFOLIO UPDATE

The majority of stocks in our portfolio saw losses similar to that of the greater market. That said, one of our stocks—Tempus AI (TEM)—saw a surge in price as Moderna (MRNA) saw positive updates regarding their phase 3 cancer vaccine trial. This is due to the fact that Tempus utilizes artificial intelligence to perform complex tests and DNA/RNA sequencing in relation to cancer and more complex ailments. We plan to hold all currently owned stocks for the foreseeable future. As always, thank you for reading, and happy investing.