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WHAT MOVED THE MARKET TODAY
DAILY NOTES

Materials · Select Sector

25 stocks · cap-weighted, ETF-derived weights · Aug 25, 2026 close
53.59
+1.80 (+3.49%)
XLB 53.59 · +1.8 pts (+3.49%) 1W
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
54.2653.6052.9452.28EW +3.11%H 53.98 · 09:30L 51.78 · open
Aug 19Aug 20Aug 21Aug 24Aug 25
30-minute bars · index reconstructed live from member prices
Breadth
20 / 25
stocks rose with the index
Concentration
76%
of the gain from NEM, FCX, CTVA
Biggest driver
NEM +0.63
NEWMONT CORP, +16.52%
Biggest drag
STLD −0.16
STEEL DYNAMICS INC, −7.50%

What drove it

25 members · drivers first · 1W · residual 1.8bp within 60bp gate

The XLB rose 3.49% (+1.80 pts) on the week, and 76% of that gain came from just three stocks: NEM, FCX, CTVA.

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

+2.2 pts from 20 gainers−0.4 pts from 5 losers
net +1.8 pts · gainers outweigh losers 5.2 to 1
Stock
Points
Return
XLBsum of all 25 stocks
+1.8
100%
+3.49%
NEMNEWMONT CORP
+0.6
35%
+16.52%
FCXFREEPORT MCMORAN INC
+0.6
33%
+20.48%
CTVACORTEVA INC
+0.2
9%
+6.58%
LINLINDE PLC
+0.1
6%
+1.77%
IFFINTL FLAVORS + FRAGRANCES
+0.1
6%
+7.59%
CFCF INDUSTRIES HOLDINGS INC
+0.1
5%
+6.26%
SWSMURFIT WESTROCK PLC
+0.1
4%
+4.48%
ECLECOLAB INC
+0.1
4%
+3.40%
MOSMOSAIC CO/THE
+0.1
4%
+14.81%
CRHCRH PLC
+0.1
4%
+3.16%
AMCRAMCOR PLC
+0.0
3%
+3.05%
BALLBALL CORP
+0.0
2%
+3.91%
SHWSHERWIN WILLIAMS CO/THE
+0.0
2%
+1.73%
MLMMARTIN MARIETTA MATERIALS
+0.0
2%
+1.70%
IPINTERNATIONAL PAPER CO
+0.0
2%
+2.31%
VMCVULCAN MATERIALS CO
+0.0
1%
+0.86%
PPGPPG INDUSTRIES INC
+0.0
1%
+0.78%
AVYAVERY DENNISON CORP
+0.0
1%
+1.20%
APDAIR PRODUCTS + CHEMICALS INC
+0.0
0%
+0.20%
ALBALBEMARLE CORP
+0.0
0%
+0.35%
PKGPACKAGING CORP OF AMERICA
−0.0
−1%
−1.51%
LYBLYONDELLBASELL INDU CL A
−0.0
−2%
−3.26%
DOWDOW INC
−0.1
−3%
−3.30%
NUENUCOR CORP
−0.2
−9%
−6.31%
STLDSTEEL DYNAMICS INC
−0.2
−9%
−7.50%
Cap weighting, illustrated

NEWMONT CORP and MOSAIC CO/THE moved almost identically (+16.52% vs +14.81%), yet NEM moved the XLB 8.7× 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 +1.80 pt move · cell size = points contributed · color = direction, intensity = return
NEM+0.6 pts(+16.5%)
FCX+0.6 pts(+20.5%)
STLD−0.2 pts(−7.5%)
CTVA+0.2 pts(+6.6%)
NUE−0.2 pts(−6.3%)
LIN+0.1 pts(+1.8%)
IFF+0.1 pts(+7.6%)
CF+0.1 pts
SW+0.1 pts
ECL+0.1 pts(+3.4%)
MOS+0.1 pts(+14.8%)
CRH+0.1 pts(+3.2%)
DOW−0.1 pts
AMCR+0.0 pts
BALL+0.0 pts
SHW+0.0 pts
LYB−0.0 pts
MLM
IP
PKG
PPG
AVY

Concentration curve

cumulative share of the +1.80 pt move · sorted by contribution
0%50%100%6131925stocks:3 stocks = 76%100% covered at 8

When they drove it

cumulative points through the period
0NEM +0.63FCX +0.60CTVA +0.16STLD −0.16NUE −0.15DOW −0.05Aug 18Aug 25

Breadth

member returns, this period
−10%0%+10%+20%
From −7.50% (STLD) to +20.48% (FCX). Equal-weight, the XLB would be +3.11% vs the actual +3.49%; the gap is what cap weighting did.

By sector

point contribution · sums to +1.80 pts
-25
+1.8

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG

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