Published Sep 25, 2026, 4:30 PM ET
Today's move, what drove it, and what the available information cannot explain.
Capitalisation weighted, so a move in the largest companies moves it more than a move in the smallest.
Every Nasdaq listing, weighted by capitalisation and heavy in technology.
Thirty names weighted by price rather than by capitalisation, so it can disagree with the S&P for arithmetic reasons alone.
Small capitalisation names. Read against the S&P, it is the size half of how broad a day was.
The same five hundred companies weighted equally, so the largest names count no more than the smallest. Read against the cap-weighted index, the gap is how much of the day belonged to the biggest companies.
The two moved together, so the session was not a story about the largest companies.
38%
3 of 8 tracked indices above their 50-day average
Counted over ^GSPC, ^IXIC, ^DJI, ^RUT, ^FTSE, ^N225, ^GDAXI, 000001.SS. This is a reading across whole market indices, not a count of the companies inside any one of them.
CNN's own index, stored at the close. Context for whether sentiment confirms the tape or contradicts it.
Expected thirty day volatility from S&P 500 options. Rising with the index is the contradiction worth seeing.
The evidence read for this company over the 7 days before the session was its own SEC filings, its stored corporate actions, the headline feed collected for its ticker and the clustered news events this system collects every two hours across every category. None of them holds a row for this company inside that window.
Moved 8.0%, at or above the 3% floor for this strip
The evidence read for this company over the 7 days before the session was its own SEC filings, its stored corporate actions, the headline feed collected for its ticker and the clustered news events this system collects every two hours across every category. Rows naming this company were read inside that window and none of them was resolved to this session's move.
Moved 6.5%, at or above the 3% floor for this strip
The evidence read for this company over the 7 days before the session was its own SEC filings, its stored corporate actions, the headline feed collected for its ticker and the clustered news events this system collects every two hours across every category. None of them holds a row for this company inside that window.
Moved 4.2%, at or above the 3% floor for this strip
The evidence read for this company over the 7 days before the session was its own SEC filings, its stored corporate actions, the headline feed collected for its ticker and the clustered news events this system collects every two hours across every category. Rows naming this company were read inside that window and none of them was resolved to this session's move.
Moved 3.9%, at or above the 3% floor for this strip
Microsoft consolidated Copilot capabilities to compete with Anthropic, a same-day AI product move tied to the rally.
News event dated 2026-09-25, MarketWatch Top Stories: Microsoft consolidates Copilot capabilities to compete with Anthropic in AI applications
Moved 3.7%, at or above the 3% floor for this strip
The evidence read for this company over the 7 days before the session was its own SEC filings, its stored corporate actions, the headline feed collected for its ticker and the clustered news events this system collects every two hours across every category. Rows naming this company were read inside that window and none of them was resolved to this session's move.
Moved 3.4%, at or above the 3% floor for this strip
The evidence read for this company over the 7 days before the session was its own SEC filings, its stored corporate actions, the headline feed collected for its ticker and the clustered news events this system collects every two hours across every category. Rows naming this company were read inside that window and none of them was resolved to this session's move.
Moved 3.3%, at or above the 3% floor for this strip
Built in code from the movers whose evidence did not resolve, so no written summary can shorten this list.
The S&P 500 rose 0.51% while only 2 of 8 tracked indices sat above their own 50-day average, down from 3 of 8 last session, showing the gain came with narrower participation than before.
The Dow rose 0.93%, outpacing the S&P 500's 0.51% and Nasdaq's 0.48%, while the Russell 2000 was nearly flat at 0.07%, showing large caps led while small caps lagged.
Sector performance split widely, with Industrials up 0.95% and Technology up 0.80% against Communication Services down 0.90% and Energy down 0.86%, a divided sector tone beneath the index gain.
VIX fell 4.98% and Fear and Greed rose 2.78%, both readings pointing toward reduced fear together, unlike the prior session when the two moved in opposite directions.
One session, from the stored closes of the eleven sector ETFs. Each bar is scaled against the widest move of the day, so the shape is the spread and not an absolute size.