QAV America Light Update — 05 October 2026

Happy Monday, QAV America.

And welcome to all of our new members.

Market This Week (S&P 500)

The S&P 500 ended the week ending October 2, 2026 fractionally lower, down about 0.3% to close at approximately 7,723:

• The S&P 500 slipped 0.3% to close at 7,722.72, remaining roughly 1% below its record high, while the Dow dropped 1.3% and the Nasdaq was the lone major index in the green, advancing about 0.5% for the week.
• September nonfarm payrolls came in at just 29,000, well below the 84,000 forecast, while the unemployment rate rose to 4.2%. The BLS also revised July and August figures down by a combined 60,000 jobs.
• The weak jobs data led investors to sharply recalibrate Fed rate hike expectations, driving the CME FedWatch probability of an October rate hike down to approximately 18 to 20%. Through the week, market participants remained concerned about the continued northward movement of US government bond yields.
• On Friday, the Nasdaq Composite closed at a record 27,190.86 and Nvidia touched an all-time high, with Nvidia reaching a new intraday high of $237.88, pushing its market cap past $5.7 trillion.
• Micron Technology reported better-than-expected fiscal Q4 results, posting adjusted EPS of $33.42 versus the $31.61 expected, on revenue of $54.23 billion against a $51.07 billion estimate, as the memory maker continues to benefit from soaring AI infrastructure demand.
• Within the S&P 500, tech and energy were the only two sectors to gain more than 1% for the week, with utilities up 0.81%, while the remaining eight sectors all finished lower.

All the best,
Cameron

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PORTFOLIO UPDATE

What moved in our US Light portfolio this week

TEO (Telecom Argentina SA): -10.0% over one week. No clear company-specific reason for this week’s move was found in the sources checked.

DB (Deutsche Bank AG): -4.4% over one week. No clear company-specific reason for this week’s move was found in the sources checked.

BFH (Bread Financial Holdings): -4.7% over one week. No clear company-specific reason for this week’s move was found in the sources checked.

DAC (Danaos): +7.1% over one week. No clear company-specific reason for this week’s move was found in the sources checked.

Drill down into the widget above to see different timeframes, or visit our live portfolio page.

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SELLS

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BUYS

And here’s my TikTok of the week.

** Please remember to review our Buying Guidelines to understand which cap bands you should be looking at and other important considerations.

DISCLOSURE

Please review our trading and disclosure policy.

FOR NEW MEMBERS

If you’re new to QAV Light, here’s a quick reminder on how it works.

1. We send you an email every Monday advising which stocks we are adding to our Light portfolio.
2. You can copy our trades, but please remember to review our Trading Guidelines to understand which cap you should be looking at and other important considerations. And consult a financial planner before making any decisions.
3. We don’t recommend that you add stocks which are already in our portfolio. Their position on our buy list might have changed since we recommended them. Just start with the stocks recommended after you become a member.
4. If one of the stocks we add breaches one of our sell conditions, we will sell it from our portfolio and you’ll get an email advising of the trade. Again, you can copy our trades, but seek financial advice before making any decisions. And please check your Rule #1 price (see Trading Guidelines).
5. If you come across any QAV terminology that you don’t understand (eg Rule 1, 3PTL, Possibles, etc), please review our terminology guide or just email us for clarification.

That’s it for today!

If we decide to buy or sell something, we’ll let you know.

Got a question?
cameron@qavamerica.com

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