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WHAT MOVED THE MARKET TODAY
DAILY NOTES

Utilities · Select Sector

31 stocks · cap-weighted, ETF-derived weights · Aug 25, 2026 close
43.30
−31.47 (−42.09%)
XLU 43.30 · −31.5 pts (−42.09%) 2Y
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
109.6491.5973.5455.4937.44EW +30.39%H 91.89 · Oct 16L 41.87 · Jan 7
Aug 20, 2024Feb 21, 2025Aug 25, 2025Feb 24, 2026Aug 25, 2026
Breadth
3 / 31
stocks fell with the index
Concentration
3%
of the decline from PCG, EIX, AWK
Biggest driver
PCG −0.51
P G + E CORP, +0.10%
Biggest offset
CEG +3.79
CONSTELLATION ENERGY, +47.45%

What drove it

31 members · detractors first · 2Y · residual 6299.0bp exceeds 60bp gate

The XLU fell 42.09% (−31.47 pts) over two years, but 28 of 31 members went the other way. PCG and EIX dragged the tape lower, accounting for 3% of the decline.

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

+15.0 pts from 25 gainers−1.2 pts from 6 losers
net −31.5 pts · gainers outweigh losers 12.3 to 1
Stock
Points
Return
XLUsum of all 31 stocks
−31.5
100%
−42.09%
PCGP G + E CORP
−0.5
2%
+0.10%
EIXEDISON INTERNATIONAL
−0.4
1%
−1.90%
AWKAMERICAN WATER WORKS CO INC
−0.2
1%
+1.78%
AESAES CORP
−0.1
0%
−6.86%
PEGPUBLIC SERVICE ENTERPRISE GP
−0.1
0%
−2.91%
EDCONSOLIDATED EDISON INC
−0.0
0%
+13.41%
PNWPINNACLE WEST CAPITAL
+0.0
0%
+20.71%
CMSCMS ENERGY CORP
+0.1
0%
+9.12%
ESEVERSOURCE ENERGY
+0.1
0%
+18.03%
FEFIRSTENERGY CORP
+0.1
0%
+15.80%
PPLPPL CORP
+0.1
0%
+18.39%
DTEDTE ENERGY COMPANY
+0.1
0%
+18.80%
LNTALLIANT ENERGY CORP
+0.2
−1%
+25.55%
SOSOUTHERN CO/THE
+0.2
−1%
+10.59%
NINISOURCE INC
+0.2
−1%
+32.71%
DUKDUKE ENERGY CORP
+0.3
−1%
+15.48%
EVRGEVERGY INC
+0.3
−1%
+50.27%
SRESEMPRA
+0.3
−1%
+10.96%
NEENEXTERA ENERGY INC
+0.3
−1%
+12.98%
WECWEC ENERGY GROUP INC
+0.3
−1%
+24.91%
AEEAMEREN CORPORATION
+0.4
−1%
+37.76%
ATOATMOS ENERGY CORP
+0.4
−1%
+35.64%
DDOMINION ENERGY INC
+0.5
−1%
+30.11%
CNPCENTERPOINT ENERGY INC
+0.5
−2%
+57.22%
EXCEXELON CORP
+0.5
−2%
+27.03%
XELXCEL ENERGY INC
+0.8
−3%
+37.11%
NRGNRG ENERGY INC
+1.0
−3%
+42.08%
ETRENTERGY CORP
+1.2
−4%
+88.63%
AEPAMERICAN ELECTRIC POWER
+1.2
−4%
+33.33%
VSTVISTRA CORP
+2.2
−7%
+76.76%
CEGCONSTELLATION ENERGY
+3.8
−12%
+47.45%
Cap weighting, illustrated

NEXTERA ENERGY INC and CONSOLIDATED EDISON INC moved almost identically (+12.98% vs +13.41%), yet NEE moved the XLU 27.3× 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 −31.47 pt move · cell size = points contributed · color = direction, intensity = return
CEG+3.8 pts(+47.4%)
VST+2.2 pts(+76.8%)
AEP+1.2 pts(+33.3%)
ETR+1.2 pts(+88.6%)
NRG+1.0 pts(+42.1%)
XEL+0.8 pts
EXC+0.5 pts(+27.0%)
PCG−0.5 pts
CNP+0.5 pts
D+0.5 pts(+30.1%)
ATO+0.4 pts(+35.6%)
EIX−0.4 pts
AEE+0.4 pts
WEC+0.3 pts
NEE+0.3 pts(+13.0%)
SRE+0.3 pts
EVRG+0.3 pts
DUK
NI
AWK−0.2 pts
SO+0.2 pts
LNT
DTE
PPL
FE
CMS

Concentration curve

cumulative share of the −31.47 pt move · sorted by contribution
0%50%100%8162331stocks:3 stocks = 3%100% covered at 31

When they drove it

cumulative points through the period
0PCG −0.51EIX −0.39AWK −0.18CEG +3.79VST +2.16AEP +1.24Aug 20Aug 25

Breadth

member returns, this period
−25%0%+25%+50%+75%
From −6.86% (AES) to +88.63% (ETR). Equal-weight, the XLU would be +30.39% vs the actual −42.09%; the gap is what cap weighting did.

By sector

point contribution · sums to −31.47 pts
-31
+13.8

The year, session by session

every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG

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