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◆QUANTLOGIX DAILY BRIEF
THURSDAY · 11/12/2026 PRE-MARKET
S&P Futures
7,609
-0.41%
Nasdaq Futures
28,194.75
-0.98%
10Y Yield
4.88%
+0.41%
Macro Sentiment
54/100
Neutral
Signal Breadth
38%
bearish

◆ Market Pulse

The S&P 500 rose 1.31% to 7619.38 and the Nasdaq Composite gained 1.6% to 25466.19, with Technology (+3.23%) the clear leading sector and Cons. Disc. (-0.05%) the lone decliner. Russell 2000 added 0.88% while the Dow lagged at +0.49%. Headline risk sits with AI: Nasdaq futures are down 0.98% pre-bell with Nvidia leading a decline in AI-related shares, and Nebius fell 10% on a weak 2026 outlook and higher capex. The VIX rose 4.57% to 18.29 even on the rally day, and the 10-year sits at 4.88%. Small-cap single names were violent: SLXN up 2866% on the gainers board while SMX dropped 41.87% among losers.

◆ Index Board — Today's Close

S&P 500S&P 500 · 7,619.38 · +1.31% on the day+1.31%NASDAQ CompositeNASDAQ Composite · 25,466.19 · +1.60% on the day+1.60%Dow Jones IndustrialDow Jones Industrial Average · 52,486.49 · +0.49% on the day+0.49%Russell 2000Russell 2000 · 2,846.26 · +0.88% on the day+0.88%CBOE VolatilityCBOE Volatility Index · 18.29 · +4.57% on the day+4.57%

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 · 7,609 · -0.41%-0.41%Nasdaq FuturesNasdaq Futures · 28,194.75 · -0.98%-0.98%Dow FuturesDow Futures · 52,646 · +0.13%+0.13%Russell 2000 FuturesRussell 2000 Futures · 2,850 · -0.13%-0.13%

◆ Overnight Headlines

CNBC3m ago
Here are the biggest calls on Wall Street on Thursday.
CNBC4m ago
Nebius' earnings report comes after fellow neoclouds IREN and CoreWeave showed better-than-expected results in the past week.
CNBC5m ago
Scott Colom will be the first Democrat elected to the Senate from the state since 1982, and Mississippi's first Black senator since Reconstruction.
BENZINGA5m ago
Xunlei (NASDAQ:XNET) reported third-quarter financial results on Thursday. The transcript from the company’s third-quarter earnings call has been provided below.Benzinga APIs provi XNET
CNBC6m ago
Nasdaq-100 futures fell early Thursday as Nvidia shares slumped on the potential ouster of CEO Jensen Huang.

◆ Signal Standouts

Bullish signal share across the 4,910-name universe rose 3.6 points to 37.9%, a broadening reading — participation is widening beyond the narrow leadership that had carried the tape. The distribution still skews neutral (2,361 names), with 1,859 bullish vs. 690 bearish, so the improvement is real but the middle of the book remains unconvinced.

38%BULLISH
Strong Buy
387
Buy
1,472
Neutral
2,361
Sell
593
Strong Sell
97
Signal breadth — last 40 sessions38%
2026-09-18low 14% · high 49%2026-11-12

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

Strong Buy standouts: AAPL · AMZN · TSLA · MU · BRK.B · LLY · JPM · AMD · WMT · V · XOM · JNJ

Strong Sell standouts: ING · OKTA · GH · AG · ESTC · ENS · AROC · NOVT · TGS · GRAL · WGS · DXPE

See full signals →

◆ Earnings Ahead

Sort by date, EPS growth, or revenue growth.
TickerNext ReportInLast EPS YoYLast Rev YoY
NVDA 2026-11-25 13d +127.8% +105.9%
WMT 2026-11-27 14d -9.1% +5.9%
XOM 2026-12-02 19d +0.0% +0.0%
AVGO 2026-12-10 28d +215.3% +85.5%
META 2027-01-19 68d +264.8% +26.1%
TSLA 2027-01-21 69d -43.6% -0.2%

◆ Sector Setup

Technology
BULLISH
Led all sectors at +3.23% with MU, AMD and AAPL among sample strong buys, though Nasdaq futures down 0.98% pre-bell flag AI-name follow-through risk.
Energy
BULLISH
Second-best sector at +1.86% with XOM earnings 19 days out.
Cons. Disc.
NEUTRAL
Only sector in the red at -0.05%, a notable divergence while cyclical tech ripped.
Health Care
NEUTRAL
Essentially flat at +0.04% despite LLY appearing among sample strong buys.
Real Estate
BEARISH
Near-zero at +0.02% with the 10-year at 4.88%, keeping the rate-sensitive complex pressured.
Financials
BULLISH
+0.58% with JPM a sample strong buy and Goldman Sachs Alternatives leading an $800M growth round in private markets.

◆ Economic Snapshot

Fed Funds Rate
3.88%YoY -5.1%
Unemployment Rate
4.1%YoY -6.8%
Inflation Rate (YoY)
3.72%
GDP Growth
3.4%YoY -24.4%
10-Year Treasury
4.88%YoY -1.6%
Consumer Sentiment
48.1YoY -12.7%

Year-over-year movement

Fed Funds RateFed Funds Rate: 3.88% · -5.1% year over year-5.13%Unemployment RateUnemployment Rate: 4.1% · -6.8% year over year-6.82%Inflation Rate (YoY)Inflation Rate (YoY): 3.72% · +0.0% year over year+0.00%GDP GrowthGDP Growth: 3.4% · -24.4% year over year-24.44%10-Year Treasury10-Year Treasury: 4.88% · -1.6% year over year-1.61%Consumer SentimentConsumer Sentiment: 48.1 · -12.7% year over year-12.70%

◆ Catalyst Calendar

The primary-market calendar is active: Rezera (RZRA, $11-13) prices today on Nasdaq, with three more deals tomorrow plus Anthropic (ANT, $70-78) on deck for Nov 19. Earnings risk is stacked later in the month — NVDA reports Nov 25 and WMT Nov 27.

  • IPO RZRA — Rezera Inc. · 2026-11-12
  • IPO WWB — WINDWARD BIO GROUP AG · 2026-11-13
  • IPO VVVV — vVARDIS Holding AG · 2026-11-13
  • IPO TRCX — Tracx Logis Ltd. · 2026-11-13
  • IPO YHTE — Primagrove Ltd · 2026-11-16
  • IPO ANT — ANTHROPIC, PBC · 2026-11-19
  • IPO BENE — Behneh Limited

◆ IPO Radar — Upcoming Listings & Pipeline News

Sort by listing date, days out, or offer range · amber = news-estimated date
TickerCompanyListing DateInOffer RangeExchange
RZRA Rezera Inc. 2026-11-12 listed $11–$13 XNAS
WWB WINDWARD BIO GROUP AG 2026-11-13 1d $16–$18 XNAS
VVVV vVARDIS Holding AG 2026-11-13 1d $21–$24 XNYS
TRCX Tracx Logis Ltd. 2026-11-13 1d $18–$22 XNAS
YHTE Primagrove Ltd 2026-11-16 4d $4–$6 XNAS
ANT ANTHROPIC, PBC 2026-11-19 7d $70–$78 XNAS
BENE Behneh Limited TBA — $3–$5 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 is active at the top end: Cyera raised an $800M Series G extension at a $12B valuation led by Goldman Sachs Alternatives, and a16z remains the most active lead with 10 deals and $2.11B deployed, including TypeSafe AI's $870M Series A at a $7.5B valuation.

DateCompanyEventAmountLead Investor
2026-11-05 Cyera · Cybersecurity Series G extension $800M led by Goldman Sachs Alternatives (Growth Equity) $800M Goldman Sachs Alternatives (Growth Equity)
2026-10-12 Ambi · AI Pre-Series A $26M led by Luminous Ventures $26M Luminous Ventures
2026-10-09 Ultra · Robotics Series A $50M led by Framework Ventures $50M Framework Ventures
2026-10-09 TypeSafe AI · AI Series A $870M led by Andreessen Horowitz $870M Andreessen Horowitz
2026-10-09 Hone · AI Seed $60M led by Benchmark $60M Benchmark
2026-10-09 Meticulous · Enterprise Software Series A $15M led by Chemistry $15M Chemistry
2026-10-09 Kapta Space · Space Series A $24M led by Washington Harbour Partners $24M Washington Harbour Partners
2026-10-09 Klarent · Enterprise Software Seed $8M led by Mosaic Ventures $8M Mosaic Ventures

Track 2,699 pre-IPO names on Private Companies · browse 280+ investor profiles · live deal tape on Deal Signals.

◆ Trading Implications

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

◆ Deep Dive

Breadth broadening into a futures gap: why the sequence matters

Breadth measures how many names participate in a move — here, 37.9% of 4,910 names carry bullish signals, up 3.6 points. When breadth broadens into strength, gains are distributed across many stocks, which historically makes an index move more resilient because no single theme's failure can unwind the whole advance. But today's setup inverts the sequence: cash-session breadth improved while futures imply an AI-led gap lower at the open. The educational takeaway is that the first hour tells you which force dominates — if the decline stays concentrated in AI-related names while the broad bullish cohort holds, that's rotation; if the broad cohort cracks too, the breadth improvement was a lagging echo, not a leading one.

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.