News impact and rank
How the Newsroom orders the last 24 hours of stories (rank) and how much each one can move a price (high, medium or low impact).
Near-duplicate headlines are collapsed into one story first — eight outlets carrying the same sentence is one big story, not eight. Rank and impact are then two weightings of the same seven components.
Formula
Rank = 24% category + 20% corroboration + 16% move + 16% recency
+ 12% source + 7% reach + 5% urgency
Impact = 34% category + 24% corroboration + 26% move + 16% urgencyInputs
- Category. Breaking 1.00, central banks 0.95, economic data 0.86, macro and geopolitics 0.78, M&A 0.70, earnings 0.62, SEC filings 0.55, analysts 0.45, other company news 0.34.
- Corroboration. (number of outlets − 1) ÷ 3, capped at 1.
- Move. The largest move today among the stocks it names ÷ 6%, capped at 1.
- Recency. 1 − age ÷ the board's window.
- Source. Primary sources 1.0, second tier 0.7, others 0.45.
- Reach. Desk symbols it names ÷ 4, capped at 1.
- Urgency. Words that signal a discontinuity, ÷ 2, capped at 1.
How to read it
Impact is high from 0.55, medium from 0.30 and low below. The thresholds are absolute, so a quiet day shows few or no high-impact stories rather than promoting the best of a slow day.
How to use it
Read high-impact stories first for anything that moves positions, and use the rank for what to read next. A story many outlets carry, with a large move in the stock it names, is usually what is driving the tape.
Limitations
Impact describes the kind of event and the reaction so far — not its direction, and not whether the move will last. The category is read from the headline's wording, so an unusual story can be misfiled.
In Kereon
Market · Newsroom. Recomputed on every refresh. Impact leaves out recency, source and reach, which say how well-attested a story is rather than how much it matters.
Also called: impact, high impact, importance, news rank, newsroom, story rank.