DJIA · WMTMT

Jul 27Aug 3Aug 11Aug 18Aug 25

Breadth

19 / 30

stocks rose with the index

Concentration

87%

of the gain from MSFT, AMGN, CRM

Biggest driver

MSFT +610

Microsoft, +26.37%

Biggest drag

CAT −370

Caterpillar, −7.14%

What drove it

30 members · drivers first · 1M · residual 0.406bp within 1bp gate

The DJIA rose 2.62% (+1,367 pts) on the month, and 87% of that gain came from just three stocks: MSFT, AMGN, CRM.

Read the latest market-close note: Nvidia and Goldman Sachs Lead a Narrow Advance as Energy and Staples Slide

+2,433.9 pts from 19 gainers−1,069.1 pts from 11 losers

net +1,366.9 pts · gainers outweigh losers 2.3 to 1

Stock

Points

Return

DJIAsum of all 30 stocks

+1,366.9

+2.62%

MSFTMicrosoft

+609.9

+26.37%

AMGNAmgen

+392.2

+17.54%

CRMSalesforce

+190.8

+18.50%

AMZNAmazon

+176.3

+12.82%

MRKMerck

+152.7

+19.65%

SHWSherwin-Williams

+137.6

+7.07%

VVisa

+127.7

+5.93%

GOOGLAlphabet

+121.2

+6.25%

IBMIBM

+106.4

+8.27%

NVDANvidia

+98.3

+8.42%

DISDisney

+86.7

+15.10%

GSGoldman Sachs

+64.1

+1.03%

CVXChevron

+58.9

+5.22%

KOCoca-Cola

+45.1

+9.02%

JNJJohnson & Johnson

+42.7

+2.70%

HDHome Depot

+10.3

+0.51%

MMM3M

+6.8

+0.65%

AXPAmerican Express

+3.3

+0.16%

JPMJPMorgan Chase

+3.0

+0.14%

BABoeing

−2.6

−0.21%

MCDMcDonald's

−15.3

−0.95%

NKENike

−15.9

−6.34%

PGProcter & Gamble

−19.1

−2.16%

CSCOCisco

−20.6

−3.02%

WMTWalmart

−37.8

−5.69%

TRVTravelers

−123.0

−5.30%

UNHUnitedHealth

−125.2

−5.04%

AAPLApple

−160.5

−8.02%

HONHoneywell

−178.7

−12.24%

CATCaterpillar

−370.4

−7.14%

Price weighting, illustrated

Caterpillar and Nike moved almost identically (−7.14% vs −6.34%), yet CAT moved the DJIA 23.3× as much. In a price-weighted index, a higher-priced share simply outvotes a cheaper one.

Attribution map

slicing the +1,367 pt move · cell size = points contributed · color = direction, intensity = return

MSFT+609.9 pts(+26.4%)

AMGN+392.2 pts(+17.5%)

CAT−370.4 pts(−7.1%)

CRM+190.8 pts(+18.5%)

HON−178.7 pts(−12.2%)

AMZN+176.3 pts(+12.8%)

AAPL−160.5 pts(−8.0%)

MRK+152.7 pts

SHW+137.6 pts(+7.1%)

V+127.7 pts

UNH−125.2 pts

TRV−123.0 pts

GOOGL+121.2 pts

IBM+106.4 pts

NVDA+98.3 pts(+8.4%)

DIS+86.7 pts(+15.1%)

GS+64.1 pts

CVX+58.9 pts

JNJ+42.7 pts

WMT

CSCO

Concentration curve

cumulative share of the +1,367 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−15%−5%+5%+15%+25%

From −12.24% (HON) to +26.37% (MSFT). Equal-weight, the DJIA would be +3.66% vs the actual +2.62%; the gap is what price weighting did.

By sector

point contribution · sums to +1,367 pts

Information Technology6

+824.3

Health Care4

+462.4

Communication Services2

+208.0

Consumer Discretionary4

+155.4

Materials1

+137.6

Financials5

+75.0

Energy1

+58.9

Consumer Staples3

−11.8

Industrials4

−544.9

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUG

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Dow Jones Industrial Average

What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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