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QUANTLOGIX DAILY BRIEF
WEDNESDAY · 09/23/2026 PRE-MARKET
S&P Futures
7,821.75
-0.13%
Nasdaq Futures
30,956.25
-0.23%
10Y Yield
4.96%
-1.00%
Macro Sentiment
56/100
Neutral
Signal Breadth
20%
bearish

Market Pulse

The tape split: NASDAQ Composite gained 0.45% to 27,244 and Russell 2000 added 0.51% to 2,890, while the Dow shed 0.36% to 51,864 and the S&P 500 closed flat at 7,765. Financials were the day's laggard at -1.97%, with Energy (-1.09%) and Comm. Svcs (-1.06%) also under water, while Materials led at +1.65% and Cons. Staples (+0.99%) offered defensive ballast. Single-name action was dominated by low-float names — WHLR up 165% and IPDN up 81% on the upside, JAGX down 51% on the downside. Headlines skewed crypto and AI-infrastructure, with Visa reporting stablecoin adoption intent jumping from 36% to 56% and CoreWeave powering Harell Data's AI training platform. The 10-year sits at 4.96%, keeping rate pressure on duration-sensitive groups.

Index Board — Today's Close

S&P 500S&P 500 · 7,764.64 · +0.00% on the day+0.00%NASDAQ CompositeNASDAQ Composite · 27,244.28 · +0.45% on the day+0.45%Dow Jones IndustrialDow Jones Industrial Average · 51,863.69 · -0.36% on the day-0.36%Russell 2000Russell 2000 · 2,889.92 · +0.51% on the day+0.51%CBOE VolatilityCBOE Volatility Index · 14.31 · +0.70% on the day+0.70%

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.

Overnight Futures

S&P FuturesS&P Futures · 7,821.75 · -0.13%-0.13%Nasdaq FuturesNasdaq Futures · 30,956.25 · -0.23%-0.23%Dow FuturesDow Futures · 52,111 · -0.32%-0.32%Russell 2000 FuturesRussell 2000 Futures · 2,899.1 · -0.51%-0.51%

Overnight Headlines

THE BLOCK1m ago
A Visa study shows U.S. stablecoin adoption intent jumps to 56% when paired with hypothetical bank-level consumer protections.
THE BLOCK1m ago
Global crypto activity fell 1.6% to $9.4 trillion despite a massive $2.1 trillion market cap contraction, Chainalysis says.
SEEKING ALPHA6m ago
MSFT NVO CBRL GIS

Signal Standouts

QuantLogix's 4,702-name universe shows 19.5% bullish signal distribution — 197 strong buys and 721 buys against 514 sells — but breadth narrowed 7 points versus yesterday. That thinning means participation is contracting into fewer names even as the Nasdaq grinds higher, and the strong-buy cohort is concentrated in the usual mega-cap complex (NVDA, AAPL, MSFT, META, MU). A narrowing tape under a flat S&P is a leadership-quality warning: the index level flatters what the signal distribution is actually saying.

20%BULLISH
Strong Buy
197
Buy
721
Neutral
3,270
Sell
501
Strong Sell
13
Signal breadth — last 33 sessions20%
2026-08-10low 19% · high 44%2026-09-23

Hover the line (or focus it and use ← →) to read any single session.

Strong Buy standouts: NVDA · AAPL · GOOGL · GOOG · MSFT · AVGO · META · MU · LLY · JPM · AMD · JNJ

Strong Sell standouts: UBS · SNEX · BRVE · CTEV · SEG · ZYBT · GRNQ · HODO · BTLN · GAUZ · NCT · PPCB

See full signals →

Earnings Ahead

Sort by date, EPS growth, or revenue growth.
TickerNext ReportInLast EPS YoYLast Rev YoY
MSFT 2026-10-26 32d +31.8% +17.7%
TSLA 2026-11-16 53d -3.0% +25.5%
AAPL 2026-11-23 60d +28.7% +16.4%
XOM 2026-11-24 61d +112.2% +42.3%
JPM 2026-11-30 67d +46.9% +27.7%
NVDA 2026-12-17 84d +127.8% +105.9%

Sector Setup

Materials
BULLISH
Sector-leading +1.65% move, with WOR's +18.5% among the day's top gainers reinforcing industrial-materials strength.
Cons. Staples
NEUTRAL
+0.99% alongside Utilities weakness suggests a selective defensive bid rather than broad risk-off rotation.
Technology
NEUTRAL
+0.73% sector gain masks concentration — the strong-buy list is nearly all mega-cap semis and platform names.
Financials
BEARISH
Worst sector at -1.97% with UBS on the strong-sell list; a 4.96% 10-year keeps pressure on the group.
Energy
BEARISH
-1.09% with no offsetting headline support; XOM earnings are 61 days out, so no near-term catalyst.
Comm. Svcs
BEARISH
-1.06% despite GOOGL carrying a strong-buy signal — a disconnect worth tracking into the next session.

Economic Snapshot

Fed Funds Rate
3.63%YoY -16.2%
Unemployment Rate
4.1%YoY -4.7%
Inflation Rate (YoY)
3.35%
GDP Growth
1.5%YoY -40.0%
10-Year Treasury
4.96%YoY +3.5%
Consumer Sentiment
55.2YoY -10.5%

Year-over-year movement

Fed Funds RateFed Funds Rate: 3.63% · -16.2% year over year-16.17%Unemployment RateUnemployment Rate: 4.1% · -4.7% year over year-4.65%Inflation Rate (YoY)Inflation Rate (YoY): 3.35% · +0.0% year over year+0.00%GDP GrowthGDP Growth: 1.5% · -40.0% year over year-40.00%10-Year Treasury10-Year Treasury: 4.96% · +3.5% year over year+3.55%Consumer SentimentConsumer Sentiment: 55.2 · -10.5% year over year-10.53%

Catalyst Calendar

The event calendar is light — no corporate events listed, and the nearest headline earnings are MSFT on 2026-10-26, 32 days out. IPO pipeline carries more near-term action: ADRX (ADARx Pharmaceuticals) is expected 2026-09-25 at $15-$17 and OURA (Oura) on 2026-09-30 at $40-$44, with ACCV and Iambic Therapeutics still working off mid-September expected dates.

  • IPO IAM — Iambic Therapeutics Inc.
  • IPO ACCV — Accelevation Holdings Corp.
  • IPO FYH — Sprout Red International Ltd.
  • IPO OURA — Oura Inc. · 2026-09-30
  • IPO ADRX — ADARx Pharmaceuticals Inc. · 2026-09-25
  • IPO TRXB — Trex Bio Inc.
  • IPO VME — VME Companies Inc.
  • IPO RTSN — Retension Pharmaceuticals Inc.
  • IPO NSCL — Nscale Ltd.
  • IPO TTG — Transten Global Group Ltd.

IPO Radar — Upcoming Listings & Pipeline News

Sort by listing date, days out, or offer range · amber = news-estimated date
TickerCompanyListing DateInOffer RangeExchange
IAM Iambic Therapeutics Inc. 2026-09-21est. listed XNAS
ACCV Accelevation Holdings Corp. 2026-09-22est. listed $20–$24 XNAS
ADRX ADARx Pharmaceuticals Inc. 2026-09-25 2d $15–$17 XNAS
OURA Oura Inc. 2026-09-30 7d $40–$44 XNAS
FYH Sprout Red International Ltd. TBA XNAS
TRXB Trex Bio Inc. TBA XNAS
VME VME Companies Inc. TBA XNAS
RTSN Retension Pharmaceuticals Inc. TBA XNAS
NSCL Nscale Ltd. TBA XNYS
TTG Transten Global Group Ltd. TBA XNAS

Full pipeline + S-1 tracker on IPO Radar · pre-IPO valuations and secondaries on Private Companies.

Private Markets & Pre-IPO Activity

The private tape stayed hot: Crusoe Energy Systems' $3.9B Series F at a $30.9B valuation anchors the week, alongside Rainmaker's $100M Series B and Baselayer's $35M Series A led by M13. Andreessen Horowitz leads the activity tables at 7 deals and $774M, while UAE-affiliated entities' $6B across 2 deals and Jane Street's $3B show sovereign and crossover capital dominating the mega-rounds.

DateCompanyEventAmountLead Investor
2026-09-22 Atum · Financial Software Undisclosed (stealth emergence) $14M $14M
2026-09-22 Baselayer · Fintech Series A $35M led by M13 $35M M13
2026-09-21 Rainmaker · Climate Series B $100M $100M
2026-09-21 Feldera · Database Software Series A led by Inovia Capital Inovia Capital
2026-09-21 Corridor · Insurtech Seed $25M led by Bain Capital Ventures $25M Bain Capital Ventures
2026-09-17 Crusoe Energy Systems · Energy Series F $3,900M led by Atreides Management, Mubadala Capital and Valor Equity Partners $3.9B Atreides Management, Mubadala Capital and Valor Equity Partners
2026-09-17 MIND · Cybersecurity Series B $72M led by Crosspoint Capital Partners $72M Crosspoint Capital Partners
2026-09-17 Watney Robotics · Robotics Series A $80M led by Valor Atreides AI Fund and Hummingbird Ventures $80M Valor Atreides AI Fund and Hummingbird Ventures

Track 2,523 pre-IPO names on Private Companies · browse 280+ investor profiles · live deal tape on Deal Signals.

Round Sizes — Recent Raises

AtumAtum · Undisclosed (stealth emergence) $14M — open the company page$14MBaselayerBaselayer · Series A $35M led by M13 — open the company page$35MRainmakerRainmaker · Series B $100M — open the company page$100MCorridorCorridor · Seed $25M led by Bain Capital Ventures — open the company page$25MCrusoe Energy SystCrusoe Energy Systems · Series F $3,900M led by Atreides Management, Mubadala Capital and Valor Equity P · valuation $30.9B — open the company page$3.9BMINDMIND · Series B $72M led by Crosspoint Capital Partners — open the company page$72MWatney RoboticsWatney Robotics · Series A $80M led by Valor Atreides AI Fund and Hummingbird Ventures — open the company page$80M

Bar = amount raised · click through to the company's pre-IPO page.

Where the money went — sector split

Energy $3.9B: 3,900,000,000Climate $100M: 100,000,000Robotics $80M: 80,000,000Cybersecurity $72M: 72,000,000Fintech $35M: 35,000,000Insurtech $25M: 25,000,000

Most active lead investors (last 45 days)

Andreessen Horowitz · 7 deals · $774MSequoia Capital · 4 deals · $170MUnited Arab Emirates and affiliated investment entities · 2 deals · $6.0BAndreessen Horowitz / Accel / Founders Fund / General Catalyst / Avenir (co-led) · 2 deals · $4.0BJane Street · 2 deals · $3.0B

Trading Implications

Educational framework discussion of market conditions — not investment advice or a recommendation to buy or sell any security.

Deep Dive

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QuantLogix briefings are educational market commentary generated from live data, not investment advice. Signals are quantitative model outputs, not recommendations. Markets carry risk of loss.