PUT IN WORK (9/21/2026)
We’re back with yet another weekly issue! Last week was another choppy one, with the market spending most of its time reacting to oil prices and the Fed’s latest rate decision. The Nasdaq (QQQ) ended the week up 0.9%, while the S&P 500 (SPY) finished down 0.3%, and while the greater market sort of struggled to climb higher, tech managed to pull way ahead.
After some warning from several AI leaders—all in regards to slowing down the development of AI models—stocks such as Nvidia (NVDA), Marvell (MRVL), Intel (INTC), and Oracle (ORCL) all moved lower, which weighed heavily on tech. Software and cybersecurity names ended positive, however, with CrowdStrike (CRWD), Palo Alto Networks (PANW), and Salesforce (CRM) all climbing.
With the Fed’s decision on the horizon, Tuesday brought more negative movement as both the Nasdaq and the S&P 500 fell 0.8% and 0.5%, respectively. Oil prices moved even higher and crypto-related stocks fell after the Clarity Act failed to move forward in the Senate.
With Wednesday came the Fed meeting, and with the Fed’s decision to raise interest rates by a quarter point—bringing its range to 3.75% to 4%—stocks ended just a bit lower. While the Nasdaq ended flat, the S&P 500 fell 0.5%, a result of not only the increase in rates, but also Kevin Warsh’s comments regarding just how long inflation has been “too high”.
Thursday brought a huge rebound as the Nasdaq and S&P 500 jumped 1.7% and 1.1%, respectively. Both tech stocks and oil prices recovered, with chip and memory stocks such as Micro (MU), Sandisk (SNDK), AMD (AMD), and Arm (ARM) all climbing higher.
Although Friday was mixed, things wrapped up on a decently positive note—especially after the previous day’s push higher. The Nasdaq rose 0.4% and the S&P 500 gained 0.2%, pushed along by continued strength in semiconductor and crypto-related rebounds. While the S&P 500 wasn’t able to end the week in the green, the Nasdaq found a comfortable, positive spot.
All in all, it was a volatile week that ended better than it started. Investors still have plenty to concern themselves with—rates, oil, inflation, and Fed expectations—but tech’s late-week recovery helped keep things from looking worse than they actually are.
(Nasdaq ETF (QQQ) price from September 2025 - 2026 — each candle is 1 week. Chart provided by tradingview.com.)
PORTFOLIO UPDATE
Interestingly enough, our portfolio didn’t move much in either direction! It seemed a bit stuck in the middle last week, and as a result, our portfolio was practically flat, if not slightly in the negative. We plan to hold all currently owned stocks for the foreseeable future. As always, thank you for reading, and happy investing.