Two Rivers, One Channel

The indexes climbed to records over the past month. Most stocks went the other way.

47%of all market value sits in the 50 biggest stocks

30%of all stocks rose over the past month

Source: MoneyFlows. Top: index returns from September 8 to October 8, 2026. Bottom: cap-weighted 1-month change, 5,146 U.S. stocks, as of October 8, 2026.