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WHAT MOVED THE MARKET TODAY
DAILY NOTES

Communication Services · Select Sector

24 stocks · cap-weighted, ETF-derived weights · Aug 25, 2026 close
113.17
+6.04 (+5.64%)
XLC 113.17 · +6.0 pts (+5.64%) QTD
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
114.09111.22108.35105.48102.62EW +5.84%H 113.38 · Jul 15L 105.38 · Jul 23
Jun 30Jul 15Jul 29Aug 11Aug 25
Breadth
16 / 24
stocks rose with the index
Concentration
53%
of the gain from T, VZ, META
Biggest driver
T +1.30
AT+T INC, +26.08%
Biggest drag
APP −0.88
APPLOVIN CORP CLASS A, −39.73%

What drove it

24 members · drivers first · QTD · residual 52.0bp within 60bp gate

The XLC rose 5.64% (+6.04 pts) so far this quarter on a mixed tape; T, VZ, META did most of the lifting, with 53% of the gain between them.

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

+8.1 pts from 17 gainers−2.4 pts from 7 losers
net +6.0 pts · gainers outweigh losers 3.4 to 1
Stock
Points
Return
XLCsum of all 24 stocks
+6.0
100%
+5.64%
TAT+T INC
+1.3
22%
+26.08%
VZVERIZON COMMUNICATIONS INC
+0.9
16%
+20.60%
METAMETA PLATFORMS INC CLASS A
+0.9
15%
+1.20%
OMCOMNICOM GROUP
+0.8
14%
+21.10%
TMUST MOBILE US INC
+0.6
11%
+8.28%
FOXAFOX CORP CLASS A
+0.6
10%
+34.84%
CMCSACOMCAST CORP CLASS A
+0.5
8%
+11.92%
DISWALT DISNEY CO/THE
+0.5
8%
+15.57%
NWSANEWS CORP CLASS A
+0.4
6%
+24.53%
FOXFOX CORP CLASS B
+0.4
6%
+33.84%
NFLXNETFLIX INC
+0.4
6%
+15.17%
GOOGLALPHABET INC CL A
+0.3
5%
−2.91%
GOOGALPHABET INC CL C
+0.2
4%
−2.83%
NWSNEWS CORP CLASS B
+0.1
2%
+25.27%
CHTRCHARTER COMMUNICATIONS INC A
+0.1
2%
+9.09%
LYVLIVE NATION ENTERTAINMENT IN
+0.0
1%
+1.99%
PSKYPARAMOUNT SKYDANCE CL B
+0.0
0%
+8.22%
WBDWARNER BROS DISCOVERY INC
−0.0
0%
+8.40%
RDDTREDDIT INC CL A
−0.1
−2%
−18.93%
TKOTKO GROUP HOLDINGS INC
−0.1
−2%
−3.93%
TTDTRADE DESK INC/THE CLASS A
−0.4
−6%
−26.71%
TTWOTAKE TWO INTERACTIVE SOFTWRE
−0.4
−7%
−6.82%
ECHOECHOSTAR CORP A
−0.5
−9%
−14.76%
APPAPPLOVIN CORP CLASS A
−0.9
−15%
−39.73%
Cap weighting, illustrated

T MOBILE US INC and PARAMOUNT SKYDANCE CL B moved almost identically (+8.28% vs +8.22%), yet TMUS moved the XLC 63.5× 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 +6.04 pt move · cell size = points contributed · color = direction, intensity = return
T+1.3 pts(+26.1%)
VZ+0.9 pts(+20.6%)
META+0.9 pts(+1.2%)
APP−0.9 pts(−39.7%)
OMC+0.8 pts(+21.1%)
TMUS+0.6 pts(+8.3%)
FOXA+0.6 pts(+34.8%)
ECHO−0.5 pts
CMCSA+0.5 pts(+11.9%)
DIS+0.5 pts(+15.6%)
TTWO−0.4 pts(−6.8%)
NWSA+0.4 pts
FOX+0.4 pts
NFLX+0.4 pts(+15.2%)
TTD−0.4 pts(−26.7%)
GOOGL+0.3 pts(−2.9%)
GOOG+0.2 pts
NWS
CHTR+0.1 pts
RDDT

Concentration curve

cumulative share of the +6.04 pt move · sorted by contribution
0%50%100%6121824stocks:3 stocks = 53%100% covered at 8

When they drove it

cumulative points through the period
0T +1.30VZ +0.95META +0.93APP −0.88ECHO −0.54TTWO −0.40Jun 30Aug 25

Breadth

member returns, this period
−40%−20%0%+20%
From −39.73% (APP) to +34.84% (FOXA). Equal-weight, the XLC would be +5.84% vs the actual +5.64%; the gap is what cap weighting did.

By sector

point contribution · sums to +6.04 pts
-24
+5.7

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG

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