U.S Stock Market Summary – June 03, 2024

Dreamer

Written by Dreamer

On June 03, 2024, the U.S. stock market showed mixed results..

  • S&P 500: Closed at 5,283.40, up 5.89 points or +0.11%.
  • Dow 30: Closed at 38,571.03, down 115.29 points or -0.30%.
  • Nasdaq: Closed at 16,828.67, up 93.65 points or +0.56%.
  • Russell 2000: Closed at 2,059.68, down 10.44 points or -0.50%.

The day saw the Nasdaq gaining ground while the Dow and Russell 2000 slipped, highlighting a divergent performance across the indices. The tech-heavy Nasdaq benefited from positive momentum in tech stocks, particularly gains in companies like Nvidia and Apple, driven by recent developments in artificial intelligence and optimism about new technology cycles. Despite the uptick in certain tech stocks, broader market sentiment was tempered by economic forecasts and weaker-than-expected U.S. manufacturing data, leading to mixed feelings among investors about the economic outlook.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 3,193 stocks experienced an increase in their stock prices.
  • Losers: 3,535 stocks saw a decrease in their stock prices.
  • Unchanged: 421 stocks remained unchanged in their stock prices.

The stock market showed mixed results, with a marginally higher number of losers than gainers, reflecting a slight bearish sentiment among investors.

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 highlights the dominance of Micro Cap companies in numbers, indicating a market rich in smaller enterprises, while larger companies are less numerous but often have a higher individual economic impact.

Sector-Wise:

Summary of the average trading volume per sector is as below:

  • Energy: Leads with the highest trading volume.
  • Technology: Shows substantial trading activity, closely following Energy.
  • Unknown: Registers the lowest trading volume, indicating minimal trading activity.

Top 10 Traded Energy Stocks:

  • Leader: *FCEL leads with the highest trade volume, significantly higher than the rest.
  • Following Closely: PLUG has substantial volumes but significantly less than FCEL.
  • Bottom of the List: PBR has the lowest trading volume among the top 10.

FuelCell Energy, Inc. (FCEL) specializes in manufacturing, operating, and servicing fuel cell power plants. These plants generate clean, efficient, and affordable energy and are recognized for their low-carbon footprint. The company’s technologies cater to utility companies, municipalities, and various industries​.

Top 10 Traded Technology Stocks:

  • Leader: *CRKN stands out with the highest trading volume in the sector.
  • Following Closely: ASTI 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 Telecommunications Stocks:

  • Leader: *T dominates with the highest trading volume in the sector.
  • Following Closely: WBD shows strong trading volumes, but less than T.
  • Bottom of the List: ROKU is at the lower end in terms of trading volume among the stocks.

AT&T Inc. (T), based in Dallas, Texas, delivers global telecommunications and technology services. Its operations are divided into two segments: Communications and Latin America. The Communications segment offers wireless services and products, including voice and data plans, along with broadband and VoIP services for businesses and residential customers under various brand names like AT&T, Cricket, and AT&T Fiber. It also provides high-tech solutions such as Virtual Private Networks and cloud services. The Latin America segment, under the AT&T and Unefon brands, offers wireless services in Mexico and sells smartphones. Originally SBC Communications Inc., the company renamed to AT&T Inc. in 2005.

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