👀 QT Funded Acquires Funded by Earnex

Hi guys, it’s Kieran. Another week is upon us and the markets are open, so lets get into it.

📢 Prop Firm Industry News

QT Funded, the prop firm arm of QT Markets, have acquired ‘Funded by Earnex’. The acquisition covers Funded by Earnex’s entire proprietary trading business. As per QT’s press release, all trader accounts, existing relationships, and challenge programs are being transferred to QT’s platform, so no traders should be adversely affected.

As the CFD side of the industry comes under increasing pressure, with ever tightening profit margins, it’s likely we will see more of this type of M&A activity in 2026.

From Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

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🕜 Red Folder News

Here are this week’s red folder news events. The biggest event of the week will be the FOMC meeting on Wednesday where The Fed are expected to cut rates again. As ever, the tone of J Powell’s press conference will be crucial in terms of interest rate expectations going forward. If they don’t cut rates, expect market chaos, and a very angry Trump.

📈 The Macro View

Fear Subsiding

Another green week for the S&P500 with 4 out of 5 days green. It was more of a slow grind higher rather than a risk-on frenzy. The Fed meeting on Wednesday is likely going to be decisive in setting the tone for equity market sentiment over the holiday period.

Institutions not buying yet.

On Goldman Sachs Prime book, institutions continue to sit on the sidelines. Equity positioning is no longer as ‘light’ as we have seen throughout this year, but institutions are evidently still not comfortable adding risk here.

Who’s buying?

Retail, as ever, are the ones propping up this rally. As per JP Morgan, "Since November 25th, coming into Friday's session, we have seen 8 consecutive days of retail net buying close to or above $2bn per day [the most over that length since at least Sep."

Keep an eye on oil this week.

Oil is currently sitting at the top of the 2025 (down)trendline. With the Fed meeting this week, as well as China economic data, Russia‑Ukraine export flows, Middle East shipping lane disruption, and potential US military intervention in Venezuela, there’s a lot of potential catalysts for an end of year breakout. Oil is the lifeblood of the global economy, so needs to be watched closely.

OK guys that it from me, have a great week!

Kieran

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