U.S Stock Market Summary – June 14, 2024

Dreamer

Written by Dreamer

On June 14, 2024, the U.S. stock market saw the majority of major indices close lower.

  • S&P 500: Closed at 5,431.60, down 2.14 points or -0.04%.
  • Dow 30: Closed at 38,589.16, down 57.94 points or -0.15%.
  • Nasdaq: Closed at 17,688.88, up 21.32 points or +0.12%.
  • Russell 2000: Closed at 2,006.16, down 32.75 points or -1.61%.

The day’s trading highlighted the Nasdaq marking its fifth consecutive record close, underscoring the strength in the tech sector. Conversely, the Russell 2000 faced significant declines, while the S&P 500 and Dow also experienced slight drops, signaling a broader market cautiousness. Despite mixed performance, ongoing investor interest in technology and communications sectors buoyed the Nasdaq, while other sectors exhibited more variability in response to recent economic indicators and Federal Reserve policy adjustments.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 1,789 stocks experienced an increase in their stock prices.
  • Losers: 4,944 stocks saw a decrease in their stock prices.
  • Unchanged: 411 stocks remained unchanged in their stock prices.

This demonstrates a trading day where decliners outnumbered advancers, highlighting wider market tensions or prevailing investor sentiments during the session.

Market Cap Category Distribution:

The market cap breakdown of companies is as below:

  • Micro Cap: These smallest companies form nearly half the market, representing 50%.
  • Small Cap: Almost a quarter of the companies are small caps, accounting for 22%.
  • 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%.

The distribution indicates a market heavily dominated by Micro Cap companies, suggesting a large number of smaller players versus a few massive firms. This diversity in company size could affect investment strategies and market volatility.

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

Tellurian Inc. (TELL) is an American natural gas company focused on developing and producing liquefied natural gas (LNG). The company aims to create a new kind of LNG company by building a low-cost, global natural gas business. Tellurian is involved in the entire natural gas value chain, including upstream production, pipeline transportation, and LNG liquefaction and export. Its key project is the Driftwood LNG terminal, designed to deliver LNG to customers worldwide while leveraging the abundant natural gas resources in the United States.

Top 10 Traded Technology Stocks:

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

NVIDIA (NVDA), founded in 1993 and based in Santa Clara, California, leads the technology industry with its advanced graphics processing units (GPUs). The company excels across various markets, including gaming, professional visualization, and artificial intelligence, contributing significantly to advancements in these fields.

Top 10 Traded Consumer Discretionary Stocks:

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

SRIVARU Holding Limited (SVMH), based in India, focuses on electric two-wheeled vehicles (E2W). It offers models like the PRANA, known for its patented chassis and advanced safety features, including a three-channel automated braking system. Established in 2021 and headquartered in the Cayman Islands, SVMH is dedicated to providing affordable and environmentally friendly urban mobility solutions.

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