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◆QUANTLOGIX DAILY BRIEF
FRIDAY · 09/25/2026 PRE-MARKET
S&P Futures
7,785.5
+0.24%
Nasdaq Futures
30,887
+0.39%
10Y Yield
5.11%
+3.02%
Macro Sentiment
56/100
Neutral
Signal Breadth
29%
bearish

◆ Market Pulse

Equities finished essentially flat with the S&P 500 at 7704.13 (-0.02%) and the Nasdaq at 26,939 (+0.01%), while the Dow lagged at -0.31% and the Russell 2000 slipped 0.11%. Leadership was in Comm. Svcs (+1.27%) and Health Care (+0.63%), with Materials (-1.19%) and Utilities (-0.98%) at the back of the pack. Small-cap and single-name action was erratic: INLF more than doubled at +108.47% while SCHL fell 10.39%. VIX dropped 2.94% to 15.21 even as the 10-year sits at 5.11%, and futures (S&P +0.24%, Nasdaq +0.39%) point to a firmer open.

◆ Index Board — Today's Close

S&P 500S&P 500 · 7,704.13 · -0.02% on the day-0.02%NASDAQ CompositeNASDAQ Composite · 26,939.37 · +0.01% on the day+0.01%Dow Jones IndustrialDow Jones Industrial Average · 51,349.98 · -0.31% on the day-0.31%Russell 2000Russell 2000 · 2,835.57 · -0.11% on the day-0.11%CBOE VolatilityCBOE Volatility Index · 15.21 · -2.94% on the day-2.94%

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 · 7,785.5 · +0.24%+0.24%Nasdaq FuturesNasdaq Futures · 30,887 · +0.39%+0.39%Dow FuturesDow Futures · 51,857 · +0.27%+0.27%Russell 2000 FuturesRussell 2000 Futures · 2,863 · +0.22%+0.22%

◆ Overnight Headlines

◆ Signal Standouts

Of 4,471 names counted, 28.9% score bullish — 43 strong buys vs just 18 strong sells — and breadth broadened 10.2 points versus yesterday. That expansion off a still-neutral base (2,650 neutrals dominate) means participation is widening rather than leadership thinning, a constructive risk-on tell if it holds a second session.

29%BULLISH
Strong Buy
43
Buy
1,247
Neutral
2,650
Sell
513
Strong Sell
18
Signal breadth — last 35 sessions29%
2026-08-10low 19% · high 44%2026-09-25

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

Strong Buy standouts: NTRA · NVT · ENTG · MTSI · SMTC · HUT · TWST · AEIS · AXTI · MANE · GRAL · FLY

Strong Sell standouts: GE · CTEV · FISN · GOSS · ZBAO · UONEK · TULP · PLSM · BANL · AIMD · AMSS · GAUZ

See full signals →

◆ Earnings Ahead

Sort by date, EPS growth, or revenue growth.
TickerNext ReportInLast EPS YoYLast Rev YoY
MSFT 2026-10-26 31d +31.8% +17.7%
TSLA 2026-11-16 51d -3.0% +25.5%
AAPL 2026-11-23 59d +28.7% +16.4%
XOM 2026-11-24 60d +112.2% +42.3%
JPM 2026-11-30 66d +46.9% +27.7%
NVDA 2026-12-17 83d +127.8% +105.9%

◆ Sector Setup

Comm. Svcs (XLK peer: GOOGL/META complex)
BULLISH
Led the tape at +1.27% while defensives sold off, signaling appetite for growth beta over safety.
Health Care (XLV)
BULLISH
Second-best sector at +0.63%, with signal names like NTRA and TWST populating the strong-buy list.
Materials (XLB)
BEARISH
Worst performer at -1.19% alongside Utilities (-0.98%) as rate-sensitive and cyclical real assets lagged.
Industrials (XLI)
BEARISH
Down 0.75% with breadth broadening elsewhere, leaving factories out of the rotation for now.
Technology (XLK)
NEUTRAL
Fell 0.32% despite Nasdaq futures pointing higher, with semis like MTSI, SMTC and ENTG among strong buys.
Utilities (XLU)
BEARISH
-0.98% on the day with the 10-year at 5.11% and up 6.9% YoY, a headwind for bond-proxy yield.

◆ 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
5.11%YoY +6.9%
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: 5.11% · +6.9% year over year+6.90%Consumer SentimentConsumer Sentiment: 55.2 · -10.5% year over year-10.53%

◆ Catalyst Calendar

The near-term calendar is IPO-heavy but event-light: ADRX prices today, Ives Ultra AI (IVAI) is expected Sept 29, and Oura (OURA, $40-44 range) and Accelevation (ACCV) hit Sept 30. Major earnings are distant — MSFT is the next catalyst 31 days out, with NVDA 83 days away.

  • IPO IVAI — Ives Ultra AI Opportunities Inc.
  • IPO OURA — Oura Inc. · 2026-09-30
  • IPO STNF — Santa Ana Global Enterprises S.A.
  • IPO ACCV — Accelevation Holdings Corp. · 2026-09-30
  • IPO ADRX — ADARx Pharmaceuticals Inc. · 2026-09-25
  • IPO FYH — Sprout Red International Ltd.
  • IPO IAM — Iambic Therapeutics Inc.
  • IPO SKUB — Skubbs Holdings Ltd.
  • IPO TRXB — Trex Bio Inc.
  • IPO RTSN — Retension Pharmaceuticals Inc.

◆ 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
ADRX ADARx Pharmaceuticals Inc. 2026-09-25 listed $15–$17 XNAS
IVAI Ives Ultra AI Opportunities Inc. 2026-09-29est. 4d $10–$10 XNYS
OURA Oura Inc. 2026-09-30 5d $40–$44 XNAS
ACCV Accelevation Holdings Corp. 2026-09-30 5d $20–$24 XNAS
STNF Santa Ana Global Enterprises S.A. TBA — $13–$15 XASE
FYH Sprout Red International Ltd. TBA — — XNAS
SKUB Skubbs Holdings Ltd. TBA — $5 XNAS
TRXB Trex Bio Inc. TBA — — XNAS
RTSN Retension Pharmaceuticals Inc. TBA — — XNAS

Listing-pipeline headlines

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

◆ Private Markets & Pre-IPO Activity

The private tape is active in AI infrastructure and data tooling: Firecrawl raised a $75M Series B led by Smash Capital, Rainmaker pulled in $100M, and Baselayer took $35M led by M13, while Bain Capital Ventures led Corridor's $25M seed. Andreessen Horowitz leads the activity table with 7 deals totaling $774M, but UAE-affiliated entities dwarf deal count with $6B across just 2 deals.

DateCompanyEventAmountLead Investor
2026-09-22 Firecrawl · AI Series B $75M led by Smash Capital $75M Smash Capital
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

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

◆ Round Sizes — Recent Raises

FirecrawlFirecrawl · Series B $75M led by Smash Capital — open the company page$75MAtumAtum · 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$72M

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: 100,000,000AI $75M: 75,000,000Cybersecurity $72M: 72,000,000Fintech $35M: 35,000,000Insurtech $25M: 25,000,000

Most active lead investors (last 45 days)

Andreessen Horowitz · 7 deals · $774MUnited 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 · $3.0BPoint72 Ventures / Spark Capital · 2 deals · $2.0B

◆ Trading Implications

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

◆ Deep Dive

Concept of the Day

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.