XLP · WMTMT

Sep 10Sep 17Sep 25Oct 2Oct 9

Breadth

17 / 34

stocks rose with the index

Concentration

100%+

of the gain from WMT, COST, PM

Biggest driver

WMT +0.57

WALMART INC, +5.32%

Biggest drag

PEP −0.35

PEPSICO INC, −7.82%

What drove it

34 members · drivers first · 1M · residual 71.6bp exceeds 60bp gate

The XLP rose 0.39% (+0.33 pts) on the month, but 17 of 34 members went the other way. WMT and COST carried the tape higher, contributing more than the entire move.

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

+2.3 pts from 14 gainers−1.9 pts from 20 losers

net +0.3 pts · gainers outweigh losers 1.2 to 1

Stock

Points

Return

XLPsum of all 34 stocks

+0.3

+0.39%

WMTWALMART INC

+0.6

+5.32%

COSTCOSTCO WHOLESALE CORP

+0.4

+4.94%

PMPHILIP MORRIS INTERNATIONAL

+0.4

+6.92%

PGPROCTER + GAMBLE CO/THE

+0.3

+5.78%

MOALTRIA GROUP INC

+0.2

+5.86%

KRKROGER CO

+0.1

+8.22%

VYLRVYLOR INC

+0.1

+7.27%

CHDCHURCH + DWIGHT CO INC

+0.1

+4.41%

ELESTEE LAUDER COMPANIES CL A

+0.1

+1.66%

DGDOLLAR GENERAL CORP

+0.0

+3.93%

CASYCASEY S GENERAL STORES INC

+0.0

+2.97%

KVUEKENVUE INC

+0.0

+0.51%

DLTRDOLLAR TREE INC

+0.0

−0.02%

TSNTYSON FOODS INC CL A

+0.0

+1.84%

BF-BBROWN FORMAN CORP CLASS B

−0.0

−0.79%

STZCONSTELLATION BRANDS INC A

−0.0

−0.94%

KDPKEURIG DR PEPPER INC

−0.0

+1.69%

SJMJM SMUCKER CO/THE

−0.0

−1.02%

KMBKIMBERLY CLARK CORP

−0.0

−0.90%

CLXCLOROX COMPANY

−0.0

−5.60%

HRLHORMEL FOODS CORP

−0.0

−7.87%

MNSTMONSTER BEVERAGE CORP

−0.0

+1.28%

CLCOLGATE PALMOLIVE CO

−0.1

+0.42%

KOCOCA COLA CO/THE

−0.1

+0.85%

MKCMCCORMICK + CO NON VTG SHRS

−0.1

−10.10%

TGTTARGET CORP

−0.1

−1.28%

KHCKRAFT HEINZ CO/THE

−0.1

−8.73%

HSYHERSHEY CO/THE

−0.1

−6.67%

SYYSYSCO CORP

−0.1

−4.39%

GISGENERAL MILLS INC

−0.1

−10.21%

MDLZMONDELEZ INTERNATIONAL INC A

−0.1

−2.43%

BGBUNGE GLOBAL SA

−0.2

−17.54%

ADMARCHER DANIELS MIDLAND CO

−0.3

−8.07%

PEPPEPSICO INC

−0.3

−7.82%

Cap weighting, illustrated

PEPSICO INC and HORMEL FOODS CORP moved almost identically (−7.82% vs −7.87%), yet PEP moved the XLP 10.3× 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 +0.33 pt move · cell size = points contributed · color = direction, intensity = return

WMT+0.6 pts(+5.3%)

COST+0.4 pts(+4.9%)

PM+0.4 pts(+6.9%)

PEP−0.3 pts(−7.8%)

PG+0.3 pts(+5.8%)

ADM−0.3 pts(−8.1%)

BG−0.2 pts(−17.5%)

MO+0.2 pts

MDLZ−0.1 pts(−2.4%)

KR+0.1 pts(+8.2%)

GIS−0.1 pts(−10.2%)

SYY−0.1 pts(−4.4%)

HSY−0.1 pts(−6.7%)

KHC−0.1 pts

TGT−0.1 pts

VYLR+0.1 pts

MKC−0.1 pts

CHD

MNST−0.0 pts

DG+0.0 pts

CASY

HRL

CLX

KMB

SJM

KDP

Concentration curve

cumulative share of the +0.33 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−20%−15%−10%−5%0%+5%

From −17.54% (BG) to +8.22% (KR). Equal-weight, the XLP would be −1.05% vs the actual +0.39%; the gap is what cap weighting did.

By sector

point contribution · sums to +0.33 pts

-34

+0.4

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUGSEPOCT

Share this move

pick a view, download it as a 16:9 PNG

What moved the market, in your inbox

The daily note publishes here after every close; the week's story lands in your inbox on Fridays, free. Read the daily notes.

Babylon Burns

WMTMT is built by the founders of Babylon Burns, a letter on markets, macro, and the systems behind them. The numbers live here; the arguments live there. Subscribing below joins the Babylon Burns letter.

Consumer Staples · Select Sector

What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

Share this move