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WHAT MOVED THE MARKET TODAY
DAILY NOTES

Communication Services · Select Sector

24 stocks · cap-weighted, ETF-derived weights · Aug 26, 2026 close
112.63
+47.10 (+71.88%)
XLC 112.63 · +47.1 pts (+71.88%) 3Y
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
136.58116.8497.1177.3857.64EW +83.63%H 120.08 · Jan 30L 63.32 · Oct 26
Aug 21, 2023May 22, 2024Feb 25, 2025Nov 20, 2025Aug 26, 2026
Breadth
18 / 24
stocks rose with the index
Concentration
58%
of the gain from META, GOOGL, GOOG
Biggest driver
META +11.86
META PLATFORMS INC CLASS A, +100.46%
Biggest drag
CHTR −8.56
CHARTER COMMUNICATIONS INC A, −63.37%

What drove it

24 members · drivers first · 3Y · residual 2452.3bp exceeds 60bp gate

The XLC rose 71.88% (+47.10 pts) over three years in a broad advance: 18 of 24 stocks rose, with META out front at +11.86 points.

Read the latest market-close note: A Flat Headline on the S&P 500 Masks a Split Between Goldman Sachs and Apple

+60.1 pts from 18 gainers−19.1 pts from 6 losers
net +47.1 pts · gainers outweigh losers 3.1 to 1
Stock
Points
Return
XLCsum of all 24 stocks
+47.1
100%
+71.88%
METAMETA PLATFORMS INC CLASS A
+11.9
25%
+100.46%
GOOGLALPHABET INC CL A
+8.7
18%
+168.79%
GOOGALPHABET INC CL C
+6.9
15%
+165.34%
WBDWARNER BROS DISCOVERY INC
+4.3
9%
+127.27%
OMCOMNICOM GROUP
+3.5
7%
+23.09%
LYVLIVE NATION ENTERTAINMENT IN
+3.2
7%
+117.61%
TAT+T INC
+3.2
7%
+112.21%
APPAPPLOVIN CORP CLASS A
+3.1
7%
+689.82%
VZVERIZON COMMUNICATIONS INC
+2.9
6%
+82.99%
NFLXNETFLIX INC
+2.5
5%
+99.52%
FOXAFOX CORP CLASS A
+2.1
4%
+117.67%
TTWOTAKE TWO INTERACTIVE SOFTWRE
+2.0
4%
+67.28%
TMUST MOBILE US INC
+1.7
4%
+38.50%
FOXFOX CORP CLASS B
+1.3
3%
+109.17%
TKOTKO GROUP HOLDINGS INC
+1.2
3%
+94.45%
DISWALT DISNEY CO/THE
+0.8
2%
+31.68%
NWSANEWS CORP CLASS A
+0.5
1%
+53.98%
NWSNEWS CORP CLASS B
+0.2
0%
+71.23%
RDDTREDDIT INC CL A
−0.1
0%
−22.46%
PSKYPARAMOUNT SKYDANCE CL B
−0.2
0%
−1.10%
ECHOECHOSTAR CORP A
−0.7
−2%
−19.54%
CMCSACOMCAST CORP CLASS A
−2.1
−5%
−25.25%
TTDTRADE DESK INC/THE CLASS A
−7.4
−16%
−82.23%
CHTRCHARTER COMMUNICATIONS INC A
−8.6
−18%
−63.37%
Cap weighting, illustrated

COMCAST CORP CLASS A and REDDIT INC CL A moved almost identically (−25.25% vs −22.46%), yet CMCSA moved the XLC 18.4× 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 +47.10 pt move · cell size = points contributed · color = direction, intensity = return
META+11.9 pts(+100.5%)
GOOGL+8.7 pts(+168.8%)
CHTR−8.6 pts(−63.4%)
TTD−7.4 pts(−82.2%)
GOOG+6.9 pts(+165.3%)
WBD+4.3 pts(+127.3%)
OMC+3.5 pts
LYV+3.2 pts(+117.6%)
T+3.2 pts(+112.2%)
APP+3.1 pts
VZ+2.9 pts(+83.0%)
NFLX+2.5 pts(+99.5%)
CMCSA−2.1 pts
FOXA+2.1 pts(+117.7%)
TTWO+2.0 pts(+67.3%)
TMUS+1.7 pts(+38.5%)
FOX+1.3 pts
TKO
ECHO−0.7 pts
NWS

Concentration curve

cumulative share of the +47.10 pt move · sorted by contribution
0%50%100%6121824stocks:3 stocks = 58%100% covered at 9

When they drove it

cumulative points through the period
0META +11.86GOOGL +8.65GOOG +6.92CHTR −8.56TTD −7.37CMCSA −2.14Aug 21Aug 26

Breadth

member returns, this period
−100%+100%+300%+500%
From −82.23% (TTD) to +689.82% (APP). Equal-weight, the XLC would be +83.63% vs the actual +71.88%; the gap is what cap weighting did.

By sector

point contribution · sums to +47.10 pts
-24
+40.9

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG

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