# ep 385 | Big market moves under the hood

An episode of [On Point](https://invisiblenetwork.ai/podcast/1667364727), 4 Aug 2026, 5:18.

Audio: https://anchor.fm/s/6a9959d4/podcast/play/123732100/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-7-4%2F429180922-44100-2-7a5dcf66ffac1.m4a

If you’ve only glanced at the S&P 500 index in the US these past few months, you might conclude it’s been a relatively quiet period. The market is up around 11 per cent this year, just slightly below its all-time high. Nothing to see here. Look under the hood, however, and it’s a completely different story.

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