U.S Stock Market Summary – June 04, 2024

Dreamer

Written by Dreamer

On June 04, 2024, the U.S. stock market experienced a modest recovery.

  • S&P 500: Closed at 5,291.34, up +7.94 points or +0.15%.
  • Dow 30: Closed at 38,711.29, up +140.26 points or +0.36%.
  • Nasdaq: Closed at 16,857.05, up +28.38 points or +0.17%.
  • Russell 2000: Closed at 2,033.94, down -25.74 points or -1.25%.

Despite minor fluctuations, the markets showed resilience. The Dow and Nasdaq enjoyed slight gains while the S&P 500 maintained stability, showcasing a mixed yet overall positive day in the stock market. The Russell 2000, however, faced some challenges, marking a noticeable decline among smaller cap stocks. This movement reflects ongoing adjustments in investor sentiment as they respond to the latest economic indicators and forecasts.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 2,417 stocks experienced an increase in their stock prices.
  • Losers: 4,343 stocks saw a decrease in their stock prices.
  • Unchanged: 400 stocks remained unchanged in their stock prices.

This distribution shows a generally bearish trend, with more stocks declining than advancing. The drop in the Russell 2000 underscores particular challenges in the smaller cap segment.

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 heavily weighted towards smaller companies, with limited representation by the largest firms.

Sector-Wise:

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

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

Top 10 Traded Basic Materials Stocks:

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

​Barrick Gold Corporation (GOLD), established in 1983 and headquartered in Toronto, Canada, is a prominent global mining company focused on gold and copper production. The company operates numerous gold mines across countries such as the United States, Canada, Argentina, and the Democratic Republic of Congo, while also extracting copper primarily in Zambia, Saudi Arabia, and Chile. Barrick has expanded its operations and influence in the mining industry through a series of strategic acquisitions.

Top 10 Traded Energy Stocks:

  • Leader: *TELL stands out with the highest trading volume in the sector.
  • Following Closely: FCEL follows with a strong trading volume but still less than TELL.
  • Bottom of the List: MRO has the lowest trading volume among the stocks.

Tellurian Inc. (TELL), established in 2016 by Charif Souki and Martin Houston, is an American company focused on the natural gas sector. Its primary project is the Driftwood LNG terminal on the U.S. Gulf Coast, which aims to export liquefied natural gas. This project encompasses natural gas production, LNG marketing, and infrastructure development. Tellurian operates by acquiring natural gas reserves and selling LNG under long-term contracts.

Top 10 Traded Technology Stocks:

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

Molori Energy Inc. (MLGO) is an oil and gas exploration and production company based in the Texas Panhandle, USA. It focuses on low-risk oil and gas projects in proven hydrocarbon-rich areas. Molori is actively expanding its operations by implementing new drilling technologies and techniques to enhance production from its existing assets.

See more:
Yahoo Finance: Stock market today: Stocks eke out gains as labor market cools, rate-cut bets rise


Share it now

Related Posts