Written by Dreamer
On May 10, 2024, the U.S. stock market presented a mixed but overall positive performance.
- S&P 500: Closed at 5,222.68, up 8.60 points or 0.16%.
- Dow 30: Closed at 39,512.84, up 125.08 points or 0.32%.
- Nasdaq: Closed at 16,340.87, down 5.40 points or -0.03%.
- Russell 2000: Closed at 2,059.78, down 13.85 points or -0.67%.
The Dow Jones Industrial Average continued its upward trend, marking the eighth consecutive day of gains, reflecting sustained investor optimism. Meanwhile, the S&P 500 saw modest gains, adding to the positive momentum observed over the past three weeks. In contrast, the Nasdaq experienced a slight dip, and the Russell 2000 also declined, highlighting a selective approach by investors amid varying economic signals. The market’s mixed reaction aligns with cautious investor sentiment ahead of upcoming economic data releases, which are expected to provide clearer direction on potential interest rate movements.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Basic Materials Stocks
- Top 10 Traded Energy Stocks
- Top 10 Traded Technology Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 2737 stocks experienced an increase in their stock prices.
- Losers: 3921 stocks saw a decrease in their stock prices.
- Unchanged: 448 stocks remained unchanged in their stock prices.
This reflects a trading day with more stocks declining than advancing. This is consistent with broader market sentiment, which remains cautious amidst mixed economic signals and pending economic data that could influence future market directions.
Market Cap Category Distribution:
The market cap breakdown of companies is as below:
- Micro Cap: These smallest companies form nearly half the market, representing 49%.
- Small Cap: Almost a quarter of the companies are small caps, accounting for 23%.
- Mid Cap: Medium-sized companies make up a significant portion, with 16%.
- Large Cap: Larger companies constitute just over a tenth of the market, at 11%.
- Mega Cap: The largest companies, or Mega Caps, are rare, making up only 1%.
This distribution reflects a market dominated by Micro Cap companies, indicating a broad base of smaller enterprises alongside a low presence of the well-known Mega Cap companies, such as Apple, Microsoft Corporation, Amazon.com Inc. and Alphabet Inc.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Basic Materials: Leads with the highest trading volume.
- Energy and Technology: These sectors show substantial trading activity, closely following Basic Materials.
- Finance: Has relatively lower trading volumes compared to other sectors.
- Unknown: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Basic Materials Stocks:
- Leader: *IAG, with the highest trading volume, significantly leading the group.
- Close Competitor: KGC is close competitor, with lower but substantial volumes.
- Lowest Volume: NEM has the lowest trading volume among the top 10 in this sector.
IAMGOLD Corporation (IAG) is primarily engaged in the exploration, development, and operation of gold mining properties.
Top 10 Traded Energy Stocks:
- Leader: *FCEL, standing out with the highest daily trading volume.
- Close Competitor: PLUG follows closely behind, maintaining strong trading volumes.
- Lowest Volume: SLB is at the bottom with the lowest volume among the top 10.
FuelCell Energy, Inc. (FCEL) designs, manufactures, operates, and services ultra-clean, efficient, and reliable fuel cell power plants.
Top 10 Traded Technology Stocks:
- Leader: *SOUN, which leads with an exceptionally high trading volume.
- Close Competitors: PLTR and MARA follow closely, displaying robust trading activity with trading volumes at least less than one-third of SOUN’s volume.
- Lowest Volume: SNAP has the least volume among the top 10 technology stocks.
SoundHound AI, Inc. (SOUN) is known for developing state-of-the-art voice-enabled AI and conversational intelligence technologies, which makes it a key player in the technology sector with high trade volume.
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