Oil Stocks Surge and Indices Post Broad Gains for the Week Ended September 12, 2026

2026-09-12 · Money Checkup market briefing

All four major U.S. indices closed the week in positive territory, with the Dow Jones leading the pack at +0.98%, followed closely by the Nasdaq Composite at +0.96%. The S&P 500 gained 0.86% to end at 7656.98, while the smaller-cap Russell 2000 lagged the group with a more modest +0.45% advance. It was a steady, broadly positive week for the market overall — but underneath that calm surface, individual stocks and industries told a much more dramatic story.

The standout theme this week was oil. Integrated oil companies posted an eye-popping +17.4% average return across eight names, including Chevron, ConocoPhillips, and Valero Energy — by far the strongest industry group of the week. Coal mining wasn't far behind at +10.4%, with Warrior Met Coal, Core Natural Resources, and Peabody Energy all contributing to the group's strength. On the flip side, "Blank Checks" (SPACs) had a brutal week, down -36.5% on average across just two names, while Other Metals and Minerals, Wholesale Distributors, Tobacco, and Rental/Leasing companies all posted double-digit percentage losses.

Individual stock moves were even more extreme. Indaptus Therapeutics (INDP) more than doubled, up 138.8%, while ACV Auctions (ACVA) gained 55.4% and Frequency Electronics (FEIM) jumped 47.6%. Academy Sports & Outdoors (ASO) also had a strong week, up 26.7%, and chipmaker MaxLinear (MXL) rose 25.4%. On the losing side, Jaguar Health (JAGX) fell 54.8%, BridgeBio Oncology Therapeutics (BBOT) dropped 44.4%, and Guidewire Software (GWRE) slid 30.5%. Several other names — Braze, Datavault AI, Dyne Therapeutics, Modular Medical, and Ocugen — all posted losses in the 24-28% range, a reminder that volatility in individual names remains high even during a calm week for the broader indices.

On the filings front, several notable companies submitted their annual 10-K reports this week. Palo Alto Networks filed for fiscal 2026 with a Health Score of 40.2, while Intuit filed with a stronger Health Score of 56.9. Zscaler's 10-K came with a notably low Health Score of 21.7, the weakest of this week's filers, while LSI Industries (55.8), Twin Disc (49.0), and Lesaka Technologies (39.1) rounded out the group.

Separately, five companies currently carry a going-concern audit flag — a formal note from auditors expressing substantial doubt about the company's ability to continue operating without additional financing or a change in circumstances. This week's list includes Entrada Therapeutics, FS KKR Capital Corp, Bain Capital Specialty Finance, New Mountain Finance Corp, and Innovative Industrial Properties. It's worth noting that going-concern language doesn't automatically mean a company is on the brink of collapse — sometimes it reflects near-term debt covenants or refinancing needs rather than imminent failure — but it's a flag worth understanding if you follow any of these names.

For investors trying to make sense of moves like this week's oil rally or the wide dispersion between top gainers and losers, Money Checkup's screener and Health Score tools can help put individual stock performance in the context of underlying fundamentals — and our backtest feature lets you see how similar patterns have played out historically.

Not investment advice. Data and analysis only.