Written by Dreamer
On May 29, 2024, the U.S. stock market experienced a downturn.
- S&P 500: Closed at 5,266.95, down 39.09 points or -0.74%.
- Dow 30: Closed at 38,441.54, down 411.32 points or -1.06%.
- Nasdaq: Closed at 16,920.58, down 99.30 points or -0.58%.
- Russell 2000: Closed at 2,036.19, down 30.66 points or -1.48%.
The markets closed lower amid widespread losses across major indexes. The declines reflect investor concerns about potential interest rate hikes, as bond yields rose sharply. Recent economic reports and high bond yields have increased market volatility. Investors remain cautious, awaiting further economic indicators to gauge the potential for inflation and subsequent interest rate adjustments.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Energy Stocks
- Top 10 Traded Technology Stocks
- Top 10 Traded Industrials Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 1,632 stocks experienced an increase in their stock prices.
- Losers: 5,109 stocks saw a decrease in their stock prices.
- Unchanged: 392 stocks remained unchanged in their stock prices.
This indicates a market day where decliners significantly outnumbered advancers.
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 underscores the predominance of smaller companies in quantity, though larger firms typically have a greater economic impact individually.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Energy: Leads with the highest trading volume.
- Technology: These sectors show substantial trading activity, closely following Energy.
- Industrials: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Energy Stocks:
- Leader: *MRO leads with the highest trade volume, significantly higher than the rest.
- Following Closely: FCEL has substantial volumes but significantly less than MRO.
- Bottom of the List: SWN has the lowest trading volume among the top 10.
Marathon Oil Corporation (MRO) is an independent energy company based in Houston, Texas, focusing on unconventional oil and gas resources in key U.S. regions like the Eagle Ford and Bakken. Committed to sustainability, MRO reports extensively on its environmental and social governance efforts.
Top 10 Traded Technology Stocks:
- Leader: *CRKN stands out with the highest trading volume in the sector.
- Following Closely: BNAI follows with a strong trading volume but still less than CRKN.
- Bottom of the List: PATH has the lowest trading volume among the stocks.
Crown ElectroKinetics Corp. (CRKN) specializes in smart glass technology, known for its DynamicTint™ system that transforms glass from clear to dark swiftly. Developed from technology originated at Hewlett-Packard, it is used in buildings, vehicles, and homes. The company, established in 2015 in Corvallis, Oregon, focuses on energy efficiency and partners with major manufacturers to produce and distribute its products. CRKN also explores innovations in fiber optics for 5G infrastructure.
Top 10 Traded Industrials Stocks:
- Leader: *GWAV dominates with the highest trading volume in the sector.
- Following Closely: PEGY shows strong trading volumes, but less than GWAV.
- Bottom of the List: CSX is at the lower end in terms of trading volume among the stocks.
Greenwave Technology Solutions, Inc. (GWAV) marks its presence in the industrials sector with a focus likely on manufacturing or production facilities that demand robust industrial solutions.
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