Weekly Market Recap – Week Ending Aug 21, 2026
U.S. equity markets moved lower this week, with weakness led by technology, Industrials, Utilities, and broader growth-oriented benchmarks. The NASDAQ 100 ETF (QQQM) declined 2.41%, while the S&P 500 ETF (SPYM) fell 1.38%, pressured by sharp losses in Technology (XLK), Industrials (XLI), and Utilities (XLU). In contrast, Health Care (XLV) delivered a strong 4.33% gain, while Energy (XLE), Materials (XLB), and Dividend Equity (SCHD) also posted positive returns, suggesting a selective rotation into defensive, commodity-linked, and income-oriented areas. Stock-specific momentum was strongest in precious metals names, led by AngloGold Ashanti (AU), Agnico Eagle Mines (AEM), and Gold Fields (GFI), while selected U.S. names such as Airbnb (ABNB), Affirm Holdings (AFRM), and Analog Devices (ADI) showed more moderate 30-day gains.
Trade ValuEngine supported portfolio strategies, www.ValuEngineCapital.com
In the below tables we use major ETF’s as a proxy for some major indexes as well as each of the sector groups into which we divide the overall markets. Tracking these over time provides a more defined picture of the US markets than simply tracking major indexes. This is followed by notable individual stock movers over the past month, and finally our full strategy outlook.
| Ticker | Name | VE Rating | Last Week’s Close Price | Weekly Change |
| QQQM | Invesco NASDAQ 100 ETF | 5 | 301.01 | -2.41% |
| SCHD | Schwab US Dividend Equity ETF | 2 | 34.52 | 1.71% |
| SPYM | State Street SPDR Portfolio S&P 500 ETF | 4 | 91.39 | -1.38% |
| VB | Vanguard Morningstar Small Cap ETF | 3 | 309.29 | -1.46% |
| XLB | State Street Materials Select Sector SPDR ETF | 2 | 52.54 | 1.90% |
| XLC | State Street Com Svc Sel Sec SPDR ETF | 2 | 112.95 | -1.37% |
| XLE | State Street Energy Select Sector SPDR ETF | 4 | 61.91 | 2.79% |
| XLF | State Street Financial Sel Sec SPDR ETF | 2 | 58.16 | -1.17% |
| XLI | State Street Industrial Select Sector SPDR ETF | 3 | 186.51 | -3.36% |
| XLK | State Street Technology Select Sector SPDR ETF | 5 | 190.01 | -3.53% |
| XLP | State Street Consumer Staples Sel Sect SPDR ETF | 1 | 86.09 | -0.12% |
| XLRE | State Street Real Estate Select Sector SPDR ETF | 1 | 45.27 | -0.42% |
| XLU | State Street Utilities Select Sector SPDR ETF | 1 | 44.31 | -3.48% |
| XLV | State Street Health Care Select Sector SPDR ETF | 3 | 167.37 | 4.33% |
| XLY | State Street Consumer Disc Sel Sect SPDR ETF | 1 | 118.2 | -0.15% |
Free Trial: Direct Access to ValuEngine Research on over 5,000 stocks and 700 ETFs HERE
Top 3 Stock Performers (Global)
| Ticker | Name | VE Rating | Last Close Price | Price 30 Days Ago | Monthly Difference |
| AU | Anglogold Ashanti PLC | 5 | 121.22 | 80.48 | 50.62% |
| AEM | Agnico Eagle Mines Ltd | 5 | 216.06 | 145.96 | 48.03% |
| GFI | Gold Fields Ltd | 5 | 47.81 | 32.91 | 45.27% |
Top 3 Stock Performers (US)
| Ticker | Name | VE Rating | Last Close Price | Price 30 Days Ago | Monthly Difference |
| MRNA | Modarna Inc | 5 | 138.82 | 55.63 | 149.54% |
| U | Unity Software Inc | 4 | 46.41 | 30.44 | 52.46% |
| NEM | Newmont Corporation | 5 | 131.09 | 93.47 | 40.25% |
Current ValuEngine reports on all covered 5000+ stocks and ETFs can be viewed HERE
Strategy Note
The profound structural shift in the US stock market in 2026 in the past 12 weeks continues. Within the US, investors are shifting money from large-cap growth stocks to smaller cap stocks while looking for value. These movements are also reflected in the 12-month and year-to-date performance numbers.
One significant trend is that large-cap US equities are facing increasingly stiff competition from international and emerging markets stocks. In fact, year-to-date (YTD) performance through August 21, 2026, reveals that even though the core S&P 500 tracking fund State Street SPDR Portfolio S&P 500 ETF (SPYM) has posted a healthy gain of 12.3%, small-caps via the iShares Russell 2000 ETF (IWM) have surged a more impressive 21.9%. Concurrently, a widening valuation gap and a cyclical correction in the US Dollar have catalyzed major out-performance in international funds like VEU and EEM. These are leading the S&P 500 by a notable margin. The table below supports the story well:
| ETF Ticker | Fund Name / Focus | YTD Return (Proxy Baseline) | Past 12 Weeks Return |
| SPYM | SPDR Portfolio S&P 500 ETF | +12.34% | +6.59% |
| IWM | iShares Russell 2000 ETF (Small Cap) | +21.86% | +8.40% |
| QQQM | Invesco NASDAQ 100 ETF | +14.20% | -3.36% |
| VUG | Vanguard Growth ETF | +15.10% | -2.80% |
| VTV | Vanguard Value ETF | +9.80% | +4.10% |
| MDY | SPDR S&P MidCap 400 ETF | +8.50% | +3.40% |
| VEU | Vanguard FTSE All-World ex-US ETF | +24.50% | +7.20% |
| EEM | iShares MSCI Emerging Markets ETF | +27.10% | +8.90% |
While the broader indices show steady trends, alpha is heavily concentrated in specific corporate narratives. The most recent development was in the pharmaceutical industry and shot Moderna (MRNA) up 80+%. Despite the tech selloff, SanDisk (SNDK) and Dell Technologies (DELL) are both holding up nicely. Year-to-date, they’ve been up 160% and 75% respectively. All three are rated 5 (Strong buy). Other US Stocks that are among the highest of our current recommendations include: Lumentum Holdings (LITE); Palantir (PAL); and Ciena Corp. (CIEN). All are in Computers & Technology. Top US stocks that are in other sectors include: Idaho-based Coeur Mining (CDE); A/C-Heating firm Comfort Systems (FIX); Restauranteur Brinker International (EAT); and steel firm Carpenter Tech (CRS). All four of these are classified as midcap stocks by Morningstar.
Another major structural change in 2026 is that energy-linked commodity exchange-traded products are also faring better than the benchmark index ETFs. Futures-based United States Oil Fund (USO) has risen 95% while the more diversified but still energy-heavy and futures-based iShares Goldman Sachs Commodity-Indexed Trust rose 43%. Geopolitical stress and rampant tariffs is the major underlying reason that Both VEU and EEM, representing developed and emerging international markets, have greatly outperformed SPYM for US-based investors.
In fact, the macroeconomic narrative of 2026 is deeply tied to the cyclical decline of the US Dollar. The “safe-haven” currency has languished near multi-decade lows against a basket of top global currencies. The Euro has steadily advanced, with the European Central Bank referencing an exchange rate climbing to $1.17, pushing the greenback down roughly 7-9% YTD. The dollar has fared even worse against the currency of our neighbor to the South. Resilient emerging market capital flows have boosted the Mexican Peso by over 11%. The chief strategist of most major firms do not see these trends ending any time soon. Wall Street consensus has officially shifted global diversification from a fringe macro view into a primary portfolio requirement. Prominent strategists actively advising clients to reduce heavy domestic weightings in favor of international exposure include: Morgan Stanley (MS); Bank of America (BAC); First Eagle and LPL Financial (LPLA).
Although ValuEngine does not rate foreign ordinary stocks, we do rate many ADRs. Holders of ADRs get unhedged returns, meaning that relative strengthening of the foreign company’s underlying currencies enhances returns for US investors. Top-rated ADRs in diverse industry sectors now include: AngloGold (AU); Colombia-based Grupo Cibest (CIB) and Chinese tech provider Lenovo (LNVGY).
www.ValuEngine.com (
www.ValuEngineCapital.com (
BLOG.VALUENGINE.COM for the full history of ValuEngine.com financial blog posts
____________________________________________________________________________
5,000 stocks, 600 ETFs, 16 sector groups, and 140 industries updated on www.ValuEngine.com
Full Two Week Free Trial HERE
Financial Advisory Services based on ValuEngine research and Portfolios available through www.ValuEngineCapital.com