WMTMT◆
WHAT MOVED THE MARKET TODAY

Dow Jones Industrial Average

31 stocks · price-weighted · Oct 9, 2026 close
51,655.00
+3,738.43 (+7.80%)
DJIA 51,655.00 · +3,738.4 pts (+7.80%) 6M
54,79952,96651,13349,300EW +9.83%H 54,349 · Aug 5L 47,917 · Apr 10
Apr 10May 27Jul 13Aug 26Oct 9
Breadth
21 / 31
stocks rose with the index
Concentration
52%
of the gain from MSFT, V, UNH
Biggest driver
MSFT +976
Microsoft, +44.27%
Biggest drag
MCD −426
McDonald's, −23.05%

What drove it

31 members · drivers first · 6M · residual 0.167bp within 1bp gate

The DJIA rose 7.80% (+3,738 pts) over the past six months on a mixed tape; MSFT, V, UNH did most of the lifting, with 52% of the gain between them.

Read the latest market-close note: Goldman and Microsoft Push the Dow to a Large Gain While Telecoms Sink Communication Services

+5,159.3 pts from 21 gainers−1,421.7 pts from 10 losers
net +3,738.4 pts · gainers outweigh losers 3.6 to 1
Stock
Points
Return
DJIAsum of all 31 stocks
+3,738.4
100%
+7.80%
MSFTMicrosoft
+976.4
26%
+44.27%
VVisa
+488.8
13%
+26.64%
UNHUnitedHealth
+471.9
13%
+24.63%
AAPLApple
+457.6
12%
+29.24%
TRVTravelers
+431.3
12%
+24.05%
AMGNAmgen
+381.1
10%
+18.19%
CRMSalesforce
+380.0
10%
+38.90%
NVDANvidia
+242.4
6%
+21.55%
CSCOCisco
+221.7
6%
+43.99%
MRKMerck
+145.3
4%
+19.91%
AMZNAmazon
+141.7
4%
+10.09%
JPMJPMorgan Chase
+141.5
4%
+7.46%
JNJJohnson & Johnson
+140.0
4%
+9.64%
CVXChevron
+135.5
4%
+12.43%
CATCaterpillar
+102.4
3%
+1.24%
GOOGLAlphabet
+84.8
2%
+4.23%
KOCoca-Cola
+64.0
2%
+13.66%
MMM3M
+60.2
2%
+6.41%
DISDisney
+52.7
1%
+8.95%
PGProcter & Gamble
+36.9
1%
+4.18%
VZVerizon
+3.1
0%
+1.09%
IBMIBM
−12.9
0%
−1.57%
AXPAmerican Express
−26.0
−1%
−1.70%
NKENike
−47.4
−1%
−18.56%
GSGoldman Sachs
−50.4
−1%
−1.37%
WMTWalmart
−94.0
−3%
−12.16%
SHWSherwin-Williams
−97.9
−3%
−4.98%
BABoeing
−162.1
−4%
−12.53%
HONHoneywell
−230.2
−6%
−15.73%
HDHome Depot
−274.5
−7%
−13.81%
MCDMcDonald's
−426.4
−11%
−23.05%
Price weighting, illustrated

Microsoft and Cisco moved almost identically (+44.27% vs +43.99%), yet MSFT moved the DJIA 4.4× as much. In a price-weighted index, a higher-priced share simply outvotes a cheaper one.

Attribution map

slicing the +3,738 pt move · cell size = points contributed · color = direction, intensity = return
MSFT+976.4 pts(+44.3%)
V+488.8 pts(+26.6%)
UNH+471.9 pts(+24.6%)
AAPL+457.6 pts(+29.2%)
TRV+431.3 pts(+24.0%)
MCD−426.4 pts(−23.0%)
AMGN+381.1 pts(+18.2%)
CRM+380.0 pts(+38.9%)
HD−274.5 pts
NVDA+242.4 pts(+21.6%)
HON−230.2 pts(−15.7%)
CSCO+221.7 pts(+44.0%)
BA−162.1 pts(−12.5%)
MRK+145.3 pts
AMZN+141.7 pts
JPM+141.5 pts
JNJ+140.0 pts(+9.6%)
CVX+135.5 pts(+12.4%)
CAT+102.4 pts
SHW
WMT
GOOGL+84.8 pts
KO
MMM
DIS
GS
PG

Concentration curve

cumulative share of the +3,738 pt move · sorted by contribution
0%50%100%8162331stocks:3 stocks = 52%100% covered at 8

When they drove it

cumulative points through the period
0MSFT +976V +489UNH +472MCD −426HD −275HON −230Apr 10Oct 9

Breadth

member returns, this period
−30%−10%+10%+30%
From −23.05% (MCD) to +44.27% (MSFT). Equal-weight, the DJIA would be +9.83% vs the actual +7.80%; the gap is what price weighting did.

By sector

point contribution · sums to +3,738 pts
Information Technology6
+2,265.3
Health Care4
+1,138.3
Financials5
+985.3
Communication Services3
+140.6
Energy1
+135.5
Consumer Staples3
+6.9
Materials1
−97.9
Industrials4
−229.8
Consumer Discretionary4
−606.6

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT

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SESSIONSETTLEDBOARDDJIA 6MMEMBERS31RESIDUAL0.167BP / 1BP GATESRCNASDAQ · CBOE · ALPHA VANTAGEWMTMT.COM