WMTMT◆
WHAT MOVED THE MARKET TODAY
DAILY NOTES

Utilities · Select Sector

31 stocks · cap-weighted, ETF-derived weights · Oct 9, 2026 close
41.40
+1.96 (+4.96%)
XLU 41.40 · +2.0 pts (+4.96%) QTD
1D1W1MQTD3M6MYTD1Y2Y3Y5Y
41.5340.9740.4239.86EW +4.83%H 41.40 · Oct 9L 39.44 · Sep 30
Sep 30Oct 2Oct 6Oct 7Oct 9
Breadth
30 / 31
stocks rose with the index
Concentration
43%
of the gain from CEG, VST, SO
Biggest driver
CEG +0.48
CONSTELLATION ENERGY, +17.34%
Biggest drag
AWK −0.01
AMERICAN WATER WORKS CO INC, −0.48%

What drove it

31 members · drivers first · QTD · residual 1.9bp within 60bp gate

The XLU rose 4.96% (+1.96 pts) so far this quarter in a broad advance: 30 of 31 stocks rose, with CEG out front at +0.48 points.

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

+2.0 pts from 30 gainers−0.0 pts from 1 losers
net +2.0 pts · gainers outweigh losers 19.8 to 1
Stock
Points
Return
XLUsum of all 31 stocks
+2.0
100%
+4.96%
CEGCONSTELLATION ENERGY
+0.5
24%
+17.34%
VSTVISTRA CORP
+0.2
13%
+16.67%
SOSOUTHERN CO/THE
+0.1
6%
+3.93%
NEENEXTERA ENERGY INC
+0.1
5%
+2.15%
NRGNRG ENERGY INC
+0.1
4%
+12.89%
PEGPUBLIC SERVICE ENTERPRISE GP
+0.1
4%
+7.32%
AEPAMERICAN ELECTRIC POWER
+0.1
4%
+3.51%
SRESEMPRA
+0.1
4%
+4.35%
XELXCEL ENERGY INC
+0.1
3%
+4.68%
PCGP G + E CORP
+0.1
3%
+7.14%
DUKDUKE ENERGY CORP
+0.1
3%
+2.33%
ETRENTERGY CORP
+0.1
3%
+3.56%
EXCEXELON CORP
+0.0
2%
+3.37%
EDCONSOLIDATED EDISON INC
+0.0
2%
+3.82%
CNPCENTERPOINT ENERGY INC
+0.0
2%
+4.88%
DTEDTE ENERGY COMPANY
+0.0
2%
+4.16%
PPLPPL CORP
+0.0
2%
+4.12%
WECWEC ENERGY GROUP INC
+0.0
2%
+2.97%
DDOMINION ENERGY INC
+0.0
2%
+1.84%
EIXEDISON INTERNATIONAL
+0.0
2%
+4.58%
FEFIRSTENERGY CORP
+0.0
1%
+3.88%
NINISOURCE INC
+0.0
1%
+4.54%
ATOATMOS ENERGY CORP
+0.0
1%
+3.34%
AEEAMEREN CORPORATION
+0.0
1%
+2.83%
CMSCMS ENERGY CORP
+0.0
1%
+3.81%
PNWPINNACLE WEST CAPITAL
+0.0
1%
+6.30%
LNTALLIANT ENERGY CORP
+0.0
1%
+4.03%
EVRGEVERGY INC
+0.0
1%
+3.21%
ESEVERSOURCE ENERGY
+0.0
1%
+2.45%
AESAES CORP
+0.0
0%
+0.17%
AWKAMERICAN WATER WORKS CO INC
−0.0
0%
−0.48%
Cap weighting, illustrated

NEXTERA ENERGY INC and EVERSOURCE ENERGY moved almost identically (+2.15% vs +2.45%), yet NEE moved the XLU 5.7× 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 +1.96 pt move · cell size = points contributed · color = direction, intensity = return
CEG+0.5 pts(+17.3%)
VST+0.2 pts(+16.7%)
SO+0.1 pts(+3.9%)
NEE+0.1 pts(+2.2%)
NRG+0.1 pts
PEG+0.1 pts(+7.3%)
AEP+0.1 pts(+3.5%)
SRE+0.1 pts
XEL+0.1 pts(+4.7%)
PCG+0.1 pts
DUK+0.1 pts
ETR+0.1 pts(+3.6%)
EXC+0.0 pts(+3.4%)
ED+0.0 pts
CNP
DTE+0.0 pts(+4.2%)
PPL+0.0 pts
WEC+0.0 pts
D+0.0 pts
EIX
FE+0.0 pts
NI+0.0 pts
ATO
AEE+0.0 pts
CMS+0.0 pts
LNT
EVRG
ES

Concentration curve

cumulative share of the +1.96 pt move · sorted by contribution
0%50%100%8162331stocks:3 stocks = 43%100% covered at 28

When they drove it

cumulative points through the period
0CEG +0.48VST +0.25SO +0.12AWK −0.01Sep 30Oct 9

Breadth

member returns, this period
−5%0%+5%+10%+15%
From −0.48% (AWK) to +17.34% (CEG). Equal-weight, the XLU would be +4.83% vs the actual +4.96%; the gap is what cap weighting did.

By sector

point contribution · sums to +1.96 pts
-31
+2.0

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.

SESSIONSETTLEDBOARDXLU QTDMEMBERS31RESIDUAL1.9BP / 60BP GATESRCNASDAQ · CBOE · ALPHA VANTAGEWMTMT.COM