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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
−7.36 (−6.25%)
XLC 110.36 · −7.4 pts (−6.25%) YTD
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
121.11116.92112.73108.54104.35EW −9.29%H 120.08 · Jan 30L 105.38 · Jul 23
Dec 31Mar 13May 21Aug 3Oct 9
Breadth
15 / 22
stocks fell with the index
Concentration
100%+
of the decline from APP, TMUS, CHTR
Biggest driver
APP −5.63
APPLOVIN CORP CLASS A, −58.89%
Biggest offset
GOOGL +3.80
ALPHABET INC CL A, +12.50%

What drove it

22 members · detractors first · YTD · residual 297.2bp exceeds 60bp gate

The XLC fell 6.25% (−7.36 pts) so far this year, and more than all of that decline came from just three stocks: APP, TMUS, CHTR.

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

+8.5 pts from 5 gainers−18.1 pts from 17 losers
net −7.4 pts · losers outweigh gainers 2.1 to 1
Stock
Points
Return
XLCsum of all 22 stocks
−7.4
100%
−6.25%
APPAPPLOVIN CORP CLASS A
−5.6
76%
−58.89%
TMUST MOBILE US INC
−2.8
38%
−26.08%
CHTRCHARTER COMMUNICATIONS INC A
−2.2
29%
−50.48%
NFLXNETFLIX INC
−1.6
21%
−25.02%
RDDTREDDIT INC CL A
−1.5
20%
−20.22%
TTWOTAKE TWO INTERACTIVE SOFTWRE
−0.9
13%
−16.63%
CMCSACOMCAST CORP CLASS A
−0.8
10%
−19.05%
TAT+T INC
−0.7
10%
−8.76%
VZVERIZON COMMUNICATIONS INC
−0.4
6%
+5.63%
TKOTKO GROUP HOLDINGS INC
−0.4
6%
−14.17%
FOXAFOX CORP CLASS A
−0.3
4%
−14.18%
NWSANEWS CORP CLASS A
−0.2
3%
+11.95%
SKYDSKYDANCE CORP
−0.2
3%
−14.75%
FOXFOX CORP CLASS B
−0.2
2%
−13.47%
DISWALT DISNEY CO/THE
−0.1
2%
−4.29%
NWSNEWS CORP CLASS B
−0.1
1%
+8.43%
ECHOECHOSTAR CORP A
−0.1
1%
−10.86%
OMCOMNICOM GROUP
+0.1
−1%
−3.32%
LYVLIVE NATION ENTERTAINMENT IN
+0.5
−7%
+19.50%
METAMETA PLATFORMS INC CLASS A
+1.3
−17%
+9.06%
GOOGALPHABET INC CL C
+2.7
−37%
+11.00%
GOOGLALPHABET INC CL A
+3.8
−52%
+12.50%
Cap weighting, illustrated

ALPHABET INC CL A and NEWS CORP CLASS A moved almost identically (+12.50% vs +11.95%), yet GOOGL moved the XLC 16.5× 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 −7.36 pt move · cell size = points contributed · color = direction, intensity = return
APP−5.6 pts(−58.9%)
GOOGL+3.8 pts(+12.5%)
TMUS−2.8 pts(−26.1%)
GOOG+2.7 pts(+11.0%)
CHTR−2.2 pts(−50.5%)
NFLX−1.6 pts(−25.0%)
RDDT−1.5 pts(−20.2%)
META+1.3 pts(+9.1%)
TTWO−0.9 pts(−16.6%)
CMCSA−0.8 pts(−19.0%)
T−0.7 pts
LYV
VZ−0.4 pts
TKO−0.4 pts
FOXA
NWSA
SKYD

Concentration curve

cumulative share of the −7.36 pt move · sorted by contribution
0%50%100%6111722stocks:3 stocks = 144%100% covered at 2

When they drove it

cumulative points through the period
0APP −5.63TMUS −2.81CHTR −2.15GOOGL +3.80GOOG +2.74META +1.28Dec 31Oct 9

Breadth

member returns, this period
−60%−40%−20%0%
From −58.89% (APP) to +19.50% (LYV). Equal-weight, the XLC would be −9.29% vs the actual −6.25%; the gap is what cap weighting did.

By sector

point contribution · sums to −7.36 pts
-22
−9.6

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT

Share this move

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