Written by Dreamer
On May 16, 2024, the U.S. stock market closed lower.
- S&P 500: Closed at 5,297.10, down 11.05 points or -0.21%.
- Dow 30: Closed at 39,869.38, down 38.62 points or -0.10%.
- Nasdaq: Closed at 16,698.32, down 44.07 points or -0.26%.
- Russell 2000: Closed at 2,096.25, down 13.21 points or -0.63%.
Despite reaching new milestones earlier in the day, such as the Dow momentarily surpassing 40,000, U.S. stock indices ended the day in the red. The general optimism spurred by favorable April inflation data was dampened by rising bond yields and mixed economic indicators. With the yield on the 10-year Treasury note peaking, impacting mortgage and credit card interest rates, and varied industrial and employment data, investors displayed cautious trading behavior. This reflects a complex market environment where investors are weighing immediate economic signals against longer-term financial conditions.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Industrials Stocks
- Top 10 Traded Technology Stocks
- Top 10 Traded Consumer Discretionary Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 3,180 stocks experienced an increase in their stock prices.
- Losers: 3,493 stocks saw a decrease in their stock prices.
- Unchanged: 474 stocks remained unchanged in their stock prices.
This suggests a mixed day on the market with more stocks declining than gaining, reflecting possibly cautious or bearish investor sentiment.
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 indicates a market largely dominated by smaller companies, highlighting the diverse and dynamic nature of the current business environment.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Industrials: Leads with the highest trading volume.
- Technology and Consumer Discretionary: These sectors show substantial trading activity, closely following Industrials.
- Unknown: Has relatively lower trading volumes compared to other sectors.
- Finance: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Industrials Stocks:
- Leader: *GWAV leads with the highest trade volume, significantly higher than the rest.
- Following Closely: PEGY has substantial volumes but significantly less than GWAV.
- Bottom of the List: ZTO has the lowest trading volume among the top 10.
Global Water Ventures (GWAV) operates within the industrials sector, which traditionally encompasses companies involved in heavy machinery, construction, and manufacturing.
Top 10 Traded Technology Stocks:
- Leader: *CRKN stands out with the highest trading volume in the sector.
- Following Closely: CYN follows with a strong trading volume but still less than CRKN.
- Bottom of the List: GOOGL has the lowest trading volume among the stocks.
Cirkin Technologies (CRKN) is a prominent entity in the technology sector, focusing on innovative technology solutions that may include software, hardware, or integrated systems.
Top 10 Traded Consumer Discretionary Stocks:
- Leader: *FFIE dominates with the highest trading volume in the sector.
- Following Closely: SLNA shows strong trading volumes, but less than FFIE.
- Bottom of the List: NKLA is at the lower end in terms of trading volume among the stocks.
Faraday Future Intelligent Electric (FFIE) is involved in retail, automotive, luxury goods, or services that are directly influenced by consumer confidence and disposable income.
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