09/22/2025 ValuEngine Weekly Market Summary & Commentary

Weekly Market Recap – Week Ending September 19, 2025

Markets continued their positive momentum last week with leadership once again coming from technology and growth-oriented ETFs, alongside select strength in emerging markets and AI-linked equities.

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In the below table we use major ETF’s as a proxy for some major indexes as well as each of the sector groups that we divide the market into. Tracking these over time provides a more defined picture of the US markets than simply tracking major indexes.

ETF Performance

Ticker
Name
VE Rating
Last Close Date
Last Close Price
Last Week Price
change
QQQM
Invesco NASDAQ 100 ETF
4
9/19/2025
246.79
243.6
1.31%
SCHD
Schwab US Dividend Equity ETF
1
9/19/2025
27.33
27.34
-0.04%
SPLG
SPDR Portfolio S&P 500 ETF
3
9/19/2025
78.3
77.75
0.71%
VB
Vanguard Small-Cap Index Fund ETF
3
9/19/2025
257.69
255.83
0.73%
XLB
Materials Select Sector SPDR Fund
1
9/19/2025
90.83
90.94
-0.12%
XLC
Communication Services Select Sector SPDR Fund
5
9/19/2025
119.41
119
0.34%
XLE
Energy Select Sector SPDR Fund
1
9/19/2025
88.52
88.3
0.25%
XLF
Financial Select Sector SPDR Fund
5
9/19/2025
54.25
53.68
1.06%
XLI
Industrial Select Sector SPDR Fund
3
9/19/2025
153.12
152.28
0.55%
XLK
Technology Select Sector SPDR Fund
2
9/19/2025
278.92
273.32
2.05%
XLP
Consumer Staples Select Sector SPDR Fund
1
9/19/2025
79.38
79.4
-0.03%
XLRE
Real Estate Select Sector SPDR Fund
1
9/19/2025
41.85
42.3
-1.06%
XLU
Utilities Select Sector SPDR Fund
2
9/19/2025
84.95
85.7
-0.88%
XLV
Health Care Select Sector SPDR Fund
1
9/19/2025
137.29
136.93
0.26%
XLY
Consumer Discretionary Select Sector SPDR Fund
5
9/19/2025
241.39
240.7
0.29%
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Top 3 Stock Performers (Global)
Ticker
Name VE Rating Last Close Date Last Close Price Price 30 Days Ago Difference
BIDU Baidu Inc 4 9/19/2025 135.35 91.93 47.23%
NBIS Nebius Group NV 5 9/19/2025 99.31 70.02 41.83%
STX Seagate Technology Holdings PLC 4 9/19/2025 221.23 164 34.90%
Top 3 Stock Performers (US)
Ticker
Name
VE Rating
Last Close Date
Last Close Price
Price 30 Days Ago
Difference
SATS
EchoStar Corp
4
9/19/2025
72.47
29.88
142.54%
WBD
Warner Bros Discovery Inc
4
9/19/2025
19.33
12.04
60.55%
PSTG
Pure Storage Inc
4
9/19/2025
87.87
59.05
48.81%

Current ValuEngine reports on all covered stocks and ETFs can be viewed at HERE

Strategy Note

Every index followed regularly in this note performed well last week. The leader, as it has been most weeks in 2025, is QQQM, the Invesco Nasdaq 100 ETF. Its nearly 2% gain was closely followed by the 1.8% posted by US small cap as represented by iShares Russell 2000 ETF IWM. Closely correlated with QQQM, the Vanguard US Growth ETF (VUG) at 1.7% beat the 1.3% posted by SPDR S&P 500 ETF (SPLG) and blasted the Vanguard Value ETF (VTV). US Midcap stocks as measured by MDY, the SPDR S&P 400 Index Midcap ETF Trust, kept pace with SPLG at 1.3%.

Foreign Developed Markets benchmark ETF, iShares MSCI EAFE ETF barely broke neutral, gaining 0.1%. Emerging markets were far more resilient. The EM benchmark, iShares MSCI Emerging Markets Index ETFs gained a robust 1.7%. Featured in our longer analytic blog last week, GLDM, the SPDR Gold Mini Shares Trust, gained 1.5%.

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This week in the markets, you can expect ongoing focus on the tech sector, especially artificial intelligence announcements, and key economic data releases such as the Consumer Price Index (CPI) for inflation insights. Major company earnings reports from tech firms like Palo Alto Networks and Snowflake, along with consumer-facing businesses like TJX, Ross Stores and Ralph Lauren, will provide updates on corporate performance and consumer demand.

From a ValuEngine perspective, three of these five stocks, Palo Alto Networks (PANW), Ralph Lauren (RL) and Snowflake (SNOW) are rated 4 (Buy) while Ross Stores (ROSS) and TJX (TJX) are rated 3 (Hold). At 10%, SNOW is projected to gain the most in the next 12 months. However, it is the most overvalued (40+%) by far of this group. The other four are also overvalued, but only by between 10% and 12%. With nearly 2/3 of the companies in the S&P 500 Index calculated by ValuEngine as overvalued, that has become the rule, not the exception.

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