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WHAT MOVED THE MARKET TODAY
DAILY NOTES

Communication Services · Select Sector

22 stocks · cap-weighted, ETF-derived weights · Oct 9, 2026 close
110.36
+19.48 (+21.43%)
XLC 110.36 · +19.5 pts (+21.43%) 2Y
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
132.28119.99107.7095.4083.11EW +25.54%H 119.79 · Jan 29L 86.13 · Apr 8
Oct 4, 2024Apr 8, 2025Oct 9, 2025Apr 10, 2026Oct 9, 2026
Breadth
14 / 22
stocks rose with the index
Concentration
92%
of the gain from GOOGL, GOOG, DIS
Biggest driver
GOOGL +8.79
ALPHABET INC CL A, +111.85%
Biggest drag
META −2.93
META PLATFORMS INC CLASS A, +21.28%

What drove it

22 members · drivers first · 2Y · residual 455.9bp exceeds 60bp gate

The XLC rose 21.43% (+19.48 pts) over two years, and 92% of that gain came from just three stocks: GOOGL, GOOG, DIS.

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

+26.0 pts from 12 gainers−12.7 pts from 10 losers
net +19.5 pts · gainers outweigh losers 2.0 to 1
Stock
Points
Return
XLCsum of all 22 stocks
+19.5
100%
+21.43%
GOOGLALPHABET INC CL A
+8.8
45%
+111.85%
GOOGALPHABET INC CL C
+6.7
35%
+107.69%
DISWALT DISNEY CO/THE
+2.4
12%
+16.22%
APPAPPLOVIN CORP CLASS A
+2.4
12%
+98.37%
LYVLIVE NATION ENTERTAINMENT IN
+1.9
10%
+53.59%
TTWOTAKE TWO INTERACTIVE SOFTWRE
+1.4
7%
+40.71%
FOXAFOX CORP CLASS A
+0.9
4%
+51.41%
FOXFOX CORP CLASS B
+0.6
3%
+47.28%
TKOTKO GROUP HOLDINGS INC
+0.5
3%
+42.86%
TAT+T INC
+0.3
2%
+9.49%
VZVERIZON COMMUNICATIONS INC
+0.3
1%
+5.73%
NWSNEWS CORP CLASS B
+0.0
0%
+17.53%
NWSANEWS CORP CLASS A
−0.0
0%
+12.67%
ECHOECHOSTAR CORP A
−0.1
0%
−10.86%
OMCOMNICOM GROUP
−0.1
0%
−19.60%
SKYDSKYDANCE CORP
−0.2
−1%
−14.75%
NFLXNETFLIX INC
−1.1
−6%
−2.32%
CMCSACOMCAST CORP CLASS A
−1.3
−7%
−39.04%
RDDTREDDIT INC CL A
−1.5
−8%
−20.22%
CHTRCHARTER COMMUNICATIONS INC A
−2.6
−13%
−68.32%
TMUST MOBILE US INC
−2.8
−15%
−26.57%
METAMETA PLATFORMS INC CLASS A
−2.9
−15%
+21.28%
Cap weighting, illustrated

WALT DISNEY CO/THE and NEWS CORP CLASS B moved almost identically (+16.22% vs +17.53%), yet DIS moved the XLC 236.6× 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 +19.48 pt move · cell size = points contributed · color = direction, intensity = return
GOOGL+8.8 pts(+111.8%)
GOOG+6.7 pts(+107.7%)
META−2.9 pts(+21.3%)
TMUS−2.8 pts(−26.6%)
CHTR−2.6 pts(−68.3%)
DIS+2.4 pts(+16.2%)
APP+2.4 pts(+98.4%)
LYV+1.9 pts(+53.6%)
RDDT−1.5 pts
TTWO+1.4 pts(+40.7%)
CMCSA−1.3 pts(−39.0%)
NFLX−1.1 pts(−2.3%)
FOXA+0.9 pts
FOX
TKO
T
SKYD

Concentration curve

cumulative share of the +19.48 pt move · sorted by contribution
0%50%100%6111722stocks:3 stocks = 92%100% covered at 4

When they drove it

cumulative points through the period
0GOOGL +8.79GOOG +6.74DIS +2.37META −2.93TMUS −2.84CHTR −2.61Oct 4Oct 9

Breadth

member returns, this period
−75%−25%+25%+75%
From −68.32% (CHTR) to +111.85% (GOOGL). Equal-weight, the XLC would be +25.54% vs the actual +21.43%; the gap is what cap weighting did.

By sector

point contribution · sums to +19.48 pts
-22
+13.3

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT

Share this move

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SESSIONSETTLEDBOARDXLC 2YMEMBERS22RESIDUAL455.9BP / 60BP GATESRCNASDAQ · CBOE · ALPHA VANTAGEWMTMT.COM