WMTMT◆
WHAT MOVED THE MARKET TODAY
DAILY NOTES

Magnificent Seven

7 stocks · cap-weighted, ETF-derived weights · Oct 9, 2026 close
73.73
+4.55 (+6.58%)
MAGS 73.73 · +4.5 pts (+6.58%) 1M
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
74.2372.8971.5470.19EW +6.43%H 73.90 · Oct 6L 69.18 · Sep 10
Sep 10Sep 17Sep 25Oct 2Oct 9
Breadth
7 / 7
stocks rose with the index
Concentration
68%
of the gain from GOOGL, MSFT, AMZN
Biggest driver
GOOGL +1.10
Alphabet Inc., +5.73%
Biggest drag
META −0.24
Meta Platforms, Inc., +11.61%

What drove it

7 members · drivers first · 1M · residual 44.8bp within 60bp gate

The MAGS rose 6.58% (+4.55 pts) on the month, and 68% of that gain came from just three stocks: GOOGL, MSFT, AMZN.

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

+4.8 pts from 6 gainers−0.2 pts from 1 losers
net +4.5 pts · gainers outweigh losers 20.2 to 1
Stock
Points
Return
MAGSsum of all 7 stocks
+4.5
100%
+6.58%
GOOGLAlphabet Inc.
+1.1
24%
+5.73%
MSFTMicrosoft Corporation
+1.1
23%
+8.66%
AMZNAmazon.com, Inc.
+0.9
21%
+4.18%
NVDANVIDIA Corporation
+0.7
16%
+5.00%
AAPLApple Inc.
+0.7
15%
+3.08%
TSLATesla, Inc.
+0.3
6%
+5.26%
METAMeta Platforms, Inc.
−0.2
−5%
+11.61%
Cap weighting, illustrated

Alphabet Inc. and Tesla, Inc. moved almost identically (+5.73% vs +5.26%), yet GOOGL moved the MAGS 4.4× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.

Attribution map

slicing the +4.55 pt move · cell size = points contributed · color = direction, intensity = return
GOOGL+1.1 pts(+5.7%)
MSFT+1.1 pts(+8.7%)
AMZN+0.9 pts(+4.2%)
NVDA+0.7 pts(+5.0%)
AAPL+0.7 pts(+3.1%)
TSLA+0.3 pts(+5.3%)
META−0.2 pts(+11.6%)

Concentration curve

cumulative share of the +4.55 pt move · sorted by contribution
0%50%100%2457stocks:3 stocks = 68%100% covered at 6

When they drove it

cumulative points through the period
0GOOGL +1.10MSFT +1.06AMZN +0.93META −0.24Sep 10Oct 9

Breadth

member returns, this period
+3%+5%+7%+9%+11%
From +3.08% (AAPL) to +11.61% (META). Equal-weight, the MAGS would be +6.43% vs the actual +6.58%; the gap is what cap weighting did.

By sector

point contribution · sums to +4.55 pts
Unknown7
+4.5

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT

Share this move

pick a view, download it as a 16:9 PNG
What moved the market, in your inbox
The daily note publishes here after every close; the week's story lands in your inbox on Fridays, free. Read the daily notes.
Babylon Burns

WMTMT is built by the founders of Babylon Burns, a letter on markets, macro, and the systems behind them. The numbers live here; the arguments live there. Subscribing below joins the Babylon Burns letter.

SESSIONSETTLEDBOARDMAGS 1MMEMBERS7RESIDUAL44.8BP / 60BP GATESRCNASDAQ · CBOE · ALPHA VANTAGEWMTMT.COM