Written by Dreamer
On Thursday, May 9, 2024, the U.S. stock market closed higher, marking a positive session.
- S&P 500: Closed at 5,214.08, up 26.41 points or +0.51%.
- Dow 30: Closed at 39,387.76, up 331.37 points or +0.85%.
- Nasdaq: Closed at 16,346.26, up 43.51 points or +0.27%.
- Russell 2000: Closed at 2,073.63, up 18.49 points or +0.90%.
The U.S. stock markets saw a broad increase with the Dow extending its winning streak to seven sessions, buoyed by a general pullback in bond yields amid higher-than-expected jobless claims. Jobless claims, although above consensus, did not dampen the market spirit, possibly due to impacts like local school vacations. With little economic data impacting sentiment, investors will closely watch the upcoming consumer price index for April to gauge potential future 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: 4,258 stocks experienced an increase in their stock prices.
- Losers: 2,434 stocks saw a decrease in their stock prices.
- Unchanged: 430 stocks remained unchanged in their stock prices.
This reflects a generally positive trading day, with many stocks showing gains.
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: *Vale (VALE) leads with the highest daily trading volume.
- Close Contenders: Followed closely by GOLD and KGC, indicating strong trading activity in these stocks as well.
- Lowest Volume: International Paper (IP) rounds out the list with the lowest volume among the top 10.
Vale S.A. is a major global mining company based in Brazil, known for being one of the world’s largest producers of iron ore and nickel. In addition to manganese, ferroalloys, and copper, Vale operates integrated logistics systems including railroads, maritime terminals, and ports across various regions.
Top 10 Traded Energy Stocks:
- Leader: *Plug Power Inc. (PLUG) shows the most significant daily trading volume.
- Close Contenders: FuelCell Energy (FCEL) also shows high volumes, demonstrating notable market interest.
- Lowest Volume: Baytex Energy (BTE) has the least volume, indicating lower trading activity.
Plug Power Inc. specializes in providing clean hydrogen and zero-emission fuel cells for electric motors that power an array of vehicles, including forklifts and other industrial equipment. They focus on solutions that replace conventional batteries in equipment and vehicles powered by electricity, enhancing the efficiency with zero carbon emissions.
Top 10 Traded Technology Stocks:
- Leader: *Roblox Corp (RBLX) dominates with the highest daily trade volume.
- Close Contender: Palantir Technologies (PLTR) follows, showcasing strong trading figures.
- Lowest Volume: Arm Holdings (ARM) has the smallest volume in this group, signaling lesser activity compared to others.
Roblox is an online platform that allows users to create and interact in an open-world environment. The platform is highly popular among children and teenagers and facilitates game creation, allowing users to design their own games and play a wide variety of different types of games created by other users, utilizing its own virtual currency called Robux for transactions within the platform.
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