Risk pulled back across the board: S&P 500 -0.48% at 7,620, Nasdaq -0.56% at 26,186, Dow -0.29% at 52,421, and Russell -0.40% at 2,892 — yet VIX drifted lower to 16.99 (-0.64%), a quiet unwind rather than a panic. Comm Services (+2.19%), Health Care (+1.45%), and Cons. Staples (+1.25%) led, while Technology (-1.81%), Industrials (-1.42%), and Utilities (-1.34%) lagged — a textbook defensive bid with the 10-year pinned at 4.96%. Single-name standouts: VEEA +80.4% on no obvious catalyst, MCRB +13.3% in health care strength; ENVA -21.9% and FTFT -21.1% led decliners. TSMC's cautious AI commentary and Wells Fargo's S&P 500 price-target cut framed the risk-off tone.
Change on the day for the major indices. VIX sits in the metric strip above — it reads inversely, so it is kept out of this scale.
Every bar opens the sector ETF's live page.
QL signal universe · click a bar for the live 5-factor read.
QL signal universe · click a bar for the live 5-factor read.
Across 4,976 names the signal distribution is defensive: 20.5% bullish, with 1,116 sells and 39 strong sells against only 1,021 buys and 14 strong buys — but breadth is broadening (+1.6 pts vs. yesterday), meaning marginal participation is improving even as the absolute bullish share stays thin. That combination typically marks early stabilization rather than conviction; the leadership is rotating but hasn't yet earned broad participation.
Hover the line (or focus it and use ← →) to read any single session.
Strong Buy standouts: NEO · ANL · INDP · FXHO · BDSX · IVVD · EDRY · EAF · CRDF · MWC · WSHP · HYPD
Strong Sell standouts: FN · AAOI · CPA · EQPT · LEU · MZTI · IRON · DCO · LUNR · WHR · RARE · VCX
See full signals →| Ticker | Next Report | In | Last EPS YoY | Last Rev YoY |
|---|---|---|---|---|
| MSFT | 2026-10-26 | 41d | +31.8% | +17.7% |
| TSLA | 2026-11-16 | 62d | -3.0% | +25.5% |
| AAPL | 2026-11-23 | 69d | +28.7% | +16.4% |
| XOM | 2026-11-24 | 70d | +112.2% | +42.3% |
| JPM | 2026-11-30 | 75d | +46.9% | +27.7% |
| NVDA | 2026-12-17 | 93d | +127.8% | +105.9% |
Bar length = days until the report · green/red = last EPS YoY direction · click through to the live page.
Year-over-year movement
IPO calendar has activity — Orion180 Insurance Group (OIG) priced $15–17 on Nasdaq with a 9/18 date, plus pending listings for ASBH, BMB, and others. Earnings are distant: MSFT in 41 days, TSLA in 62, AAPL in 69 — no near-term corporate catalysts to derail or rescue the tape.
| Ticker | Company | Listing Date | In | Offer Range | Exchange |
|---|---|---|---|---|---|
| HNUC | Holtec Nuclear Corp. | 2026-09-17est. | 2d | $15–$18 | XNAS |
| OIG | Orion180 Insurance Group Inc. | 2026-09-18 | 3d | $15–$17 | XNAS |
| CMBY | Cumberland Farms Ltd. | wk of 2026-09-21est. | 6d | — | XNAS |
| ASBH | American Savings Bank N.A. | TBA | — | $15–$17 | XNYS |
| BMB | Bamboo Insurance Services Inc. | TBA | — | $18–$20 | XNYS |
| HFE | Hao Feng Group Ltd. | TBA | — | $6.5 | XASE |
| VCCG | V Capital Consulting Group Ltd | TBA | — | $4 | XNAS |
| JRWP | Jingrui Wang Pu Holdings Group Ltd. | TBA | — | $4–$6 | XNAS |
| ADRX | ADARx Pharmaceuticals Inc. | TBA | — | — | XNAS |
| CGL | CGL Logistics Holdings Ltd | TBA | — | $4 | XNAS |
Full pipeline + S-1 tracker on IPO Radar · pre-IPO valuations and secondaries on Private Companies.
Private tape is active: Temporal closed a $550M Series E led by Lightspeed at a $12.55B valuation — the standout deal — while Cornelis Networks raised $205M (Series C, IAG Capital) and Kaiko took $53M from S&P Global in a Series B extension. Sequoia Capital and Andreessen Horowitz remain the most active lead investors with 5 deals each ($1.17B and $694M deployed respectively).
| Date | Company | Event | Amount | Lead Investor |
|---|---|---|---|---|
| 2026-09-14 | Temporal · Software Development Applications | Series E $550M led by Lightspeed | $550M | Lightspeed |
| 2026-09-14 | Cornelis Networks · AI | Series C $205M led by IAG Capital Partners | $205M | IAG Capital Partners |
| 2026-09-14 | Nuance Labs · AI | Series A $50M led by Lightspeed Venture Partners | $50M | Lightspeed Venture Partners |
| 2026-09-14 | Kaiko · Fintech | Series B extension $53M led by S&P Global | $53M | S&P Global |
| 2026-09-14 | Aron · AI | Seed $6M led by Storm Ventures | $6M | Storm Ventures |
| 2026-09-14 | Flam · AI | Series B $40M led by QED Investors | $40M | QED Investors |
| 2026-09-14 | Pave Finance · Fintech | Series A $15M | $15M | — |
| 2026-09-11 | Impossible Objects · Other Hardware | Series B $40M led by Inflection Equity | $40M | Inflection Equity |
Track 2,423 pre-IPO names on Private Companies · browse 280+ investor profiles · live deal tape on Deal Signals.
Bar = amount raised · click through to the company's pre-IPO page.
Where the money went — sector split
Most active lead investors (last 45 days)
Educational framework discussion of market conditions — not investment advice or a recommendation to buy or sell any security.
A defensive rotation (Staples, Health Care outperforming while Tech and Industrials lag) with a declining VIX signals orderly sector rebalancing, not panic. Investors are de-risking within equity exposure — moving from beta-heavy cyclicals to lower-volatility defensives — rather than exiting the asset class entirely. This pattern typically emerges when rates are elevated but not accelerating (the 10-year is at 4.96%, up only 6.9% YoY) and macro data is soft-but-stable (GDP at 1.5%, unemployment at 4.1%). The tell to watch: if defensives keep leading AND VIX starts rising, that's the transition from rotation to genuine risk-off.