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Market Anatomy, Wednesday, October 28, 2026

Published Oct 28, 2026, 4:20 PM ET

Market Anatomy, Wednesday, October 28, 2026

On October 28, 3 of the 8 tracked indices were above their 50-day average. Wendy'S rose 15.1%, the biggest move with a cause on record.

Market Anatomy as drawn for the share card of Wednesday, October 28, 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

Wendy'S

Wendy'S made the largest move with a cause on record.

Wendy'S

WEN · close 7.07

+15.15%1d
Wendy'S, stored closes
  • Wendy'S-7.0%

Stored daily closes.

Nearest connections

Stored cause

2026-10-28: Wendy's shares jump 15% after Trian offers $1.4 billion to buy burger chain

Against the market

Wendy'S moved +15.15% on the session, 14.73 points ahead of the Russell 2000.

Outside the S&P 500 holdings file dated 2026-10-27.

Indices

Weights, ranks and sectors come from the stored holdings files: S&P 500 (dated 2026-10-27).

The day's board

Market participation

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.

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 S&P 500 rose 0.28% while the equal weight fund fell 0.04%, a gap of 0.32 points. The index again outpaced the average constituent, though the gap is narrower than the 0.49 points last time.

  2. 2

    Only 3 of 8 tracked indices sit above their 50-day average, even with all four US indices higher. The Russell 2000 rose 0.41%, ahead of the Nasdaq at 0.27% and the Dow at 0.19%.

  3. 3

    Technology rose 0.80% while Utilities fell 0.84%, a spread of 1.64 points. Real Estate, Communication Services, Staples and Discretionary also fell, so gains stayed in about six of eleven sectors.

  4. 4

    Stellantis rose 13.04%, with a stored headline about a 4 billion euro cash shortfall that does not explain a rise. CoreWeave rose 7.32% and Accenture 3.50% with no stored evidence.

The full day: index block, sentiment, every mover and the open questions
7,743.98 +0.28%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
26,549.85 +0.27%1d

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

52,475.10 +0.19%1d

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

2,830.51 +0.41%1d

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

217.43 -0.04%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+0.32pp

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

Sentiment

Sentiment composite
39 +14.50%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.

16.91 -3.48%1d

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

Open questions

  • What is driving Twist Bioscience?+8.51%
    Read for this move: the stored stories naming Twist Bioscience, its filings and corporate actions, over the 7 days to 2026-10-28.
  • What is driving Coreweave?+7.32%
    Read for this move: the stored stories naming Coreweave, its filings and corporate actions, over the 7 days to 2026-10-28.
  • What is driving Micron Technology?+5.86%
    Read for this move: the stored stories naming Micron Technology, its filings and corporate actions, over the 7 days to 2026-10-28.
  • What is driving Lumentum?+5.52%
    Read for this move: the stored stories naming Lumentum, its filings and corporate actions, over the 7 days to 2026-10-28.

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

Today's key movers

+8.51%
TWST 173.45
4th of 7 on the strip

Read for this move: the stored stories naming Twist Bioscience, its filings and corporate actions, over the 7 days to 2026-10-28.

Moved 8.5%, at or above the 3% floor for this strip

+7.32%
CRWV 63.93
5th of 7 on the strip

Read for this move: the stored stories naming Coreweave, its filings and corporate actions, over the 7 days to 2026-10-28.

Moved 7.3%, at or above the 3% floor for this strip

+5.86%
MU 983.23
5.1 pts ahead of XLK

Read for this move: the stored stories naming Micron Technology, its filings and corporate actions, over the 7 days to 2026-10-28.

Moved 5.9%, at or above the 3% floor for this strip

+5.52%
LITE 913.95
4.7 pts ahead of XLK

Read for this move: the stored stories naming Lumentum, its filings and corporate actions, over the 7 days to 2026-10-28.

Moved 5.5%, at or above the 3% floor for this strip