Index inclusionVerified
Reddit is joining the S&P 500 before the Aug 18 open, replacing AvalonBay. Index funds tracking the benchmark have to buy it — a mechanical bid that has nothing to do with the business.
Markets
Latest close
Market Now
The Signal
No single relationship in the latest data is strong enough to call out. The figures below are the session as measured.
S&P 500
+1.14%
7,637.76
Official close · Sep 17
S&P 500, up 1.14 percent, 7,637.76
Source
- Observed
- Sep 17, 2026
- Cadence
- One official value per trading day
- Proxy
- SPY, the largest S&P 500 tracking ETF — not the index level
Nasdaq Comp
+0.39%
26,522.55
Official close · Sep 18
Nasdaq Comp, up 0.39 percent, 26,522.55
Source
- Observed
- Sep 18, 2026
- Cadence
- One official value per trading day
- Proxy
- QQQ tracks the Nasdaq-100, which is not the Nasdaq Composite
Dow
-0.18%
51,682.64
Official close · Sep 18
Dow, down 0.18 percent, 51,682.64
Source
- Observed
- Sep 18, 2026
- Cadence
- One official value per trading day
- Proxy
- DIA, a Dow Jones Industrial Average tracking ETF
Russell 2000
+0.51%
3,068.00
Last verified · Aug 14
Russell 2000, up 0.51 percent, 3,068.00
Entered 36 days ago and not refreshed since.
Source
- From
- Investrade
- Observed
- Aug 14, 2026
- Cadence
- Entered by an editor; does not refresh
- Proxy
- IWM, a Russell 2000 tracking ETF
Across asset classesEach line carries
its own observation time. They are not all from the same moment, and the page will not pretend otherwise.
Rates & volatility
10-yr Treasury
-7.0bp
4.940%
Observed Sep 17
10-yr Treasury, 4.940%, down 7.0bp
Source
- Observed
- Sep 17, 2026
- Cadence
- One official value per trading day
- Proxy
- CBOE 10-year yield index; the Treasury's own daily figure is the fallback
VIX
-12.82%
15.44
Observed Sep 17
VIX, down 12.82 percent, 15.44
Source
- From
- Cboe via FRED
- Observed
- Sep 17, 2026
- Cadence
- One official value per trading day
Commodities
Gold
+0.60%
$4,375.50
Last verified · Aug 14
Gold, up 0.60 percent, $4,375.50
Entered 36 days ago and not refreshed since.
Source
- Observed
- Aug 14, 2026
- Cadence
- Entered by an editor; does not refresh
- Proxy
- GLD, a gold ETF — one share is a fraction of an ounce, not the spot price
WTI Crude
+4.49%
$107.02
Observed Sep 15
WTI Crude, up 4.49 percent, $107.02
Source
- Observed
- Sep 15, 2026
- Cadence
- Published daily, typically several days in arrears
- Proxy
- EIA daily spot price via FRED — updated daily, not intraday
Crypto
Bitcoin
+5.86%
$80,844
Last close · Sep 18
Bitcoin, up 5.86 percent, $80,844
Source
- Observed
- Sep 18, 2026
- Cadence
- One official value per trading day
SectorsThe eleven SPDR sector funds,
ranked by their move this session. ETFs that track each sector, not the GICS indices themselves.
Technology
Financials
Health care
Consumer discretionary
Consumer staples
Industrials
Energy
Materials
Utilities
Real estate
Communication services
Ranked on the raw change, not the printed one. Spread between best and worst:
What actually movedThe last session we covered in full — Aug 14, 2026, 37 days ago. These are not today's movers, and the board above is.
NUNu Holdings
+11% to +12%
EarningsVerified
Quarterly net income topped $1 billion for the first time, at $1.06bn — the profitability threshold the market had been waiting on.
EarningsVerified
Applied beat and raised guidance, and the stock still fell. When a good print is sold, the information is in the expectations, not the results.
GLOBGlobant
-5.8% to -12.6%
Earnings + downgradeVerified
A weak second quarter alongside a downgrade citing erosion of IT-services demand as AI automates the work. The AI trade has a short side.
PYPLPayPal
Higher
M&A reportReported
Shares rose on reported acquisition talks involving Stripe and Advent International. Nothing is agreed until it is filed.
No confirmed catalyst
A pullback after a strong run, with no company announcement attached. Not every move has a fundamental cause, and saying so is more honest than inventing one.
Selected for having an identifiable cause, not for being the largest percentages. A price feed reports that a stock moved; it does not report why. Where no company announcement could be found, the row says so rather than borrowing a reason from the day's news.
Data health
7 at last close · 2 stale
Quotes for index and commodity ETFs come from a market feed during trading hours. Treasury yields, the VIX and WTI come from official daily series and are labelled with the day they were observed, not the day we fetched them. Where we quote a tracking fund instead of an index, the label says so.
AnalysisOur most recent markets writing. The newest piece is 34 days old — this is explanation, not a live feed.
Aug 17, 2026
Why small caps hit a record on the day the S&P 500 fell
On Friday the Russell 2000 closed at an all-time high while the three big indices finished lower. The explanation is not that investors turned bullish on small companies.
Aug 16, 2026
Everyone agrees earnings are booming. Here is the strongest case that they aren't.
S&P 500 companies grew earnings more than 50% last quarter and 86% beat expectations. Both facts are true. Neither means what the headline suggests.
Aug 15, 2026
Market Autopsy: how Silicon Valley Bank died in 44 hours
A bank with $200bn in assets failed in less than two days. The cause was not fraud, and it was not a bad loan book. It was a duration mismatch, a badly sequenced announcement, and a group chat.
The Signal · Newsletter
The market briefing worth opening.
Five minutes, every weekday at 6:30am ET. What happened, why it matters, and the numbers behind it — written by the same people who write the site, not a summary robot.
Sign-ups are not open yet. There is no mailing list behind this form, so rather than take an address we cannot send anything to, we have turned it off until there is. When it opens, the privacy policy will say which provider receives addresses before the first one is collected.
No spam, no affiliate junk, one-click unsubscribe. We will never sell subscriber data. Read the standards that apply to the newsletter.
Inside every edition
- 01The Big Story
- 023 Things That Matter
- 03Stocks to Watch
- 04Today's Economic Calendar
- 05Earnings
- 06One Number
- 07One Chart
- 08What Happens Next