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Market Anatomy, Friday, October 23, 2026

Published Oct 23, 2026, 4:40 PM ET

Market Anatomy, Friday, October 23, 2026

Market Anatomy as drawn for the share card of Friday, October 23, 2026. The same picture is on its share card.

Today's standout, the names around it and how it sits against the market. Tap a name, a sector or an index to move.

Today's relationship

At&T

At&T made the largest move on the board.

At&T

T · close 20.93

0.24%
-7.96%1d
6.2 pts behind XLC

Read for this move: the stored stories naming At&T, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 8.0%, at or above the 3% floor for this strip

At&T, stored closes
  • At&T-7.8%

Stored daily closes.

Nearest connections

Index membership

In the S&P 500 (holdings file dated 2026-10-22): weight 0.24%, rank 78 of 503.

Sector

Communication Services. From the S&P 500 holdings file dated 2026-10-22. The Communication Services fund moved -1.78%, 10 of 11 sectors.

Movers in the same sector

Same sector, same session, not a measured link.

Against the market

At&T moved -7.96% on the session, 7.44 points behind the S&P 500.

Its sector

Largest Communication Services names in the S&P 500, file dated 2026-10-22

  • GOOGAlphabetweight only2.31% of the S&P 500
  • NFLXNetflixweight only0.42% of the S&P 500
  • DISWalt Disneyweight only0.30% of the S&P 500
  • VZVerizon Communicationsweight only0.28% of the S&P 500
  • TAt&Tweight only0.24% of the S&P 500
  • CMCSAComcastweight only0.12% of the S&P 500

Indices

Weights, ranks and sectors come from the stored holdings files: S&P 500 (dated 2026-10-22).

The day's board

Market participation

0%

0 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.

Today's movers

Sectors, one session

Each bar is scaled against the widest move of the day. Tap a sector to see its largest names.

Key takeaways

  1. 1

    The headline index fell 0.52% while the equal weight fund fell 0.77%, a gap of 0.25 points, a narrower spread than the prior session's broad divergence.

  2. 2

    Participation fell to 0 of 8 tracked indices above their 50-day average from 2 of 8 the prior session, the weakest breadth reading in the recent record.

  3. 3

    Sector returns ranged from Energy up 2.60% to Consumer Staples down 1.92%, a 4.52 point spread, with most sectors negative beneath the headline decline.

  4. 4

    The Dow fell 1.23%, more than the Nasdaq's 0.21% and Russell's 0.29% declines, reversing the prior session's pattern of Dow and Russell strength against Nasdaq weakness.

The full day: index block, sentiment, every mover and the open questions
7,623.68 -0.52%1d

Capitalisation weighted, so a move in the largest companies moves it more than a move in the smallest.

the last 40 stored closes, scaled to their own range
25,955.34 -0.21%1d

Every Nasdaq listing, weighted by capitalisation and heavy in technology.

52,215.16 -1.23%1d

Thirty names weighted by price rather than by capitalisation, so it can disagree with the S&P for arithmetic reasons alone.

2,775.90 -0.29%1d

Small capitalisation names. Read against the S&P, it is the size half of how broad a day was.

216.54 -0.77%1d

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.

Cap weight against equal weight+0.25pp

The cap-weighted index outran the equal-weighted one, so the largest companies carried more of the session than their number.

Sentiment

Sentiment composite
28 -12.94%1d

This system's own composite of up to seven stored inputs, 0 (extreme fear) to 100 (extreme greed), computed after each close; not CNN's index (work item #699). Context for whether sentiment confirms the tape or contradicts it.

19.45 +2.21%1d

Expected thirty day volatility from S&P 500 options. Rising with the index is the contradiction worth seeing.

Open questions

  • Why did At&T fall?-7.96%
    Read for this move: the stored stories naming At&T, its filings and corporate actions, over the 7 days to 2026-10-23.
  • Why did Wendy'S fall?-5.33%
    Read for this move: the stored stories naming Wendy'S, its filings and corporate actions, over the 7 days to 2026-10-23.
  • Why did Stellantis fall?-4.92%
    Read for this move: the stored stories naming Stellantis, its filings and corporate actions, over the 7 days to 2026-10-23.
  • Why did Mgm Resorts International fall?-4.88%
    Read for this move: the stored stories naming Mgm Resorts International, its filings and corporate actions, over the 7 days to 2026-10-23.
  • Why did Dollar General fall?-4.62%
    Read for this move: the stored stories naming Dollar General, its filings and corporate actions, over the 7 days to 2026-10-23.
  • Why did Etsy fall?-4.28%
    Read for this move: 1 stored story naming Etsy, its filings and corporate actions, over the 7 days to 2026-10-23.
  • Why did Reddit fall?-4.00%
    Read for this move: the stored stories naming Reddit, its filings and corporate actions, over the 7 days to 2026-10-23.

Built in code from the movers whose evidence did not resolve, so no written summary can shorten this list.

Today's key movers

-7.96%
T 20.93
6.2 pts behind XLC

Read for this move: the stored stories naming At&T, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 8.0%, at or above the 3% floor for this strip

-5.33%
WEN 6.22
2nd of 7 on the strip

Read for this move: the stored stories naming Wendy'S, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 5.3%, at or above the 3% floor for this strip

-4.92%
STLA 4.06
3rd of 7 on the strip

Read for this move: the stored stories naming Stellantis, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 4.9%, at or above the 3% floor for this strip

-4.88%
MGM 28.06
3.2 pts behind XLY

Read for this move: the stored stories naming Mgm Resorts International, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 4.9%, at or above the 3% floor for this strip

-4.62%
DG 132.69
2.7 pts behind XLP

Read for this move: the stored stories naming Dollar General, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 4.6%, at or above the 3% floor for this strip

-4.28%
ETSY 86.93
6th of 7 on the strip

Read for this move: 1 stored story naming Etsy, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 4.3%, at or above the 3% floor for this strip

-4.00%
RDDT 144.25
2.2 pts behind XLC

Read for this move: the stored stories naming Reddit, its filings and corporate actions, over the 7 days to 2026-10-23.

Moved 4.0%, at or above the 3% floor for this strip