XLP · WMTMT

Apr 10May 27Jul 13Aug 26Oct 9

Breadth

18 / 34

stocks rose with the index

Concentration

100%+

of the gain from PM, TGT, KO

Biggest driver

PM +0.94

PHILIP MORRIS INTERNATIONAL, +26.41%

Biggest drag

MNST −2.92

MONSTER BEVERAGE CORP, −42.37%

What drove it

34 members · drivers first · 6M · residual 266.4bp exceeds 60bp gate

The XLP rose 1.27% (+1.05 pts) over the past six months, but 16 of 34 members went the other way. PM and TGT 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

+4.7 pts from 17 gainers−7.3 pts from 17 losers

net +1.0 pts · losers outweigh gainers 1.5 to 1

Stock

Points

Return

XLPsum of all 34 stocks

+1.0

+1.27%

PMPHILIP MORRIS INTERNATIONAL

+0.9

+26.41%

TGTTARGET CORP

+0.9

+27.31%

KOCOCA COLA CO/THE

+0.8

+14.40%

MOALTRIA GROUP INC

+0.4

+8.00%

KDPKEURIG DR PEPPER INC

+0.4

+20.36%

ELESTEE LAUDER COMPANIES CL A

+0.3

+35.48%

DLTRDOLLAR TREE INC

+0.2

+19.18%

ADMARCHER DANIELS MIDLAND CO

+0.1

+15.35%

SJMJM SMUCKER CO/THE

+0.1

+33.26%

CLCOLGATE PALMOLIVE CO

+0.1

+5.32%

SYYSYSCO CORP

+0.1

+8.00%

PGPROCTER + GAMBLE CO/THE

+0.1

+4.95%

DGDOLLAR GENERAL CORP

+0.1

+9.93%

VYLRVYLOR INC

+0.1

+7.27%

MDLZMONDELEZ INTERNATIONAL INC A

+0.0

+3.27%

CHDCHURCH + DWIGHT CO INC

+0.0

+3.13%

KVUEKENVUE INC

+0.0

+3.07%

BF-BBROWN FORMAN CORP CLASS B

−0.0

−9.77%

HRLHORMEL FOODS CORP

−0.0

−6.69%

KMBKIMBERLY CLARK CORP

−0.0

+1.62%

GISGENERAL MILLS INC

−0.1

−9.27%

KHCKRAFT HEINZ CO/THE

−0.1

−1.76%

COSTCOSTCO WHOLESALE CORP

−0.1

−5.03%

MKCMCCORMICK + CO NON VTG SHRS

−0.1

−13.69%

KRKROGER CO

−0.1

−8.87%

CLXCLOROX COMPANY

−0.2

−19.39%

TSNTYSON FOODS INC CL A

−0.2

−17.92%

CASYCASEY S GENERAL STORES INC

−0.3

−12.39%

BGBUNGE GLOBAL SA

−0.3

−16.60%

HSYHERSHEY CO/THE

−0.3

−18.95%

STZCONSTELLATION BRANDS INC A

−0.4

−25.68%

PEPPEPSICO INC

−0.8

−18.96%

WMTWALMART INC

−1.2

−12.00%

MNSTMONSTER BEVERAGE CORP

−2.9

−42.37%

Cap weighting, illustrated

WALMART INC and MCCORMICK + CO NON VTG SHRS moved almost identically (−12.00% vs −13.69%), yet WMT moved the XLP 9.3× 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 +1.05 pt move · cell size = points contributed · color = direction, intensity = return

MNST−2.9 pts(−42.4%)

WMT−1.2 pts(−12.0%)

PM+0.9 pts(+26.4%)

TGT+0.9 pts(+27.3%)

PEP−0.8 pts(−19.0%)

KO+0.8 pts(+14.4%)

MO+0.4 pts

STZ−0.4 pts(−25.7%)

KDP+0.4 pts(+20.4%)

HSY−0.3 pts(−18.9%)

BG−0.3 pts(−16.6%)

EL+0.3 pts(+35.5%)

CASY−0.3 pts

DLTR+0.2 pts

TSN−0.2 pts

CLX

ADM

KR−0.1 pts

MKC−0.1 pts

COST−0.1 pts

SYY

KHC

Concentration curve

cumulative share of the +1.05 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−50%−30%−10%+10%+30%

From −42.37% (MNST) to +35.48% (EL). Equal-weight, the XLP would be +0.65% vs the actual +1.27%; the gap is what cap weighting did.

By sector

point contribution · sums to +1.05 pts

-34

−2.6

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