Cummins Gains 0.54% as Trading Volume Dips 27.96% to $290M Ranking 425th in U.S. Equity Activity Amid Industrial Sector Shifts

Cummins Inc. (CMI) closed 0.54% higher on October 1, 2025, with a trading volume of $290 million, marking a 27.96% decline in turnover compared to the previous day. The stock ranked 425th in terms of trading activity among listed equities. Market participants noted mixed sentiment as the company navigated sector-specific dynamics amid broader market consolidation.

Analysts highlighted that Cummins' performance was influenced by its positioning in the industrial and energy transition sectors. Recent operational updates and supply chain adjustments were cited as key factors shaping investor behavior, though no major earnings or strategic announcements were reported during the period. The stock's resilience contrasted with weaker performance in peer groups, reflecting confidence in its long-term growth trajectory.

To run this backtest accurately, I need to confirm a few practical details so the strategy is implemented exactly as you expect: 1. Stock universe — All U.S. common stocks (NYSE + NASDAQ + AMEX), or a specific subset/index? 2. Trade timing — Buy at today’s close and sell at tomorrow’s close (typical “1-day hold”), or buy at tomorrow’s open and sell at tomorrow’s close? 3. Portfolio construction — Equal-weight across the 500 names each day (default), or volume-weighted / market-cap-weighted? 4. Transaction costs & slippage — Assume zero, or apply a round-trip cost (e.g., 10 bp in/out)? Once I have these clarifications, I can pull the data, generate the daily top-500 lists, and run the backtest from January 3, 2022, through October 1, 2025.