U.S Stock Market Summary – June 27, 2024

Dreamer

Written by Dreamer

On June 27, 2024, the U.S. stock market showed positive results across major indices.

  • S&P 500: Closed at 5,482.87, up 4.97 points or +0.09%.
  • Dow 30: Closed at 39,164.06, up 36.26 points or +0.09%.
  • Nasdaq: Closed at 17,858.68, up 53.53 points or +0.30%.
  • Russell 2000: Closed at 2,038.34, up 20.22 points or +1.00%.

The market rose ahead of key economic data releases, showing investor optimism. The positive momentum was driven by anticipation of the Federal Reserve’s preferred inflation gauge and upcoming economic reports.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 4,082 stocks experienced an increase in their stock prices.
  • Losers: 2,600 stocks saw a decrease in their stock prices.
  • Unchanged: 439 stocks remained unchanged in their stock prices.

There were more advancing stocks than declining stocks, reflecting a positive market sentiment. This aligns with today’s news of the U.S. stock market rising ahead of key economic data releases, showing investor optimism.

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 significant presence of smaller companies in the market, with micro and small caps dominating the landscape.

Sector-Wise:

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

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

Top 10 Traded Consumer Discretionary Stocks:

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

Faraday Future Intelligent Electric Inc. (FFIE) is an electric vehicle (EV) startup focused on developing intelligent, luxury electric cars. The company’s flagship model, the FF 91, aims to combine advanced technology, performance, and comfort, targeting high-end consumers. Faraday Future leverages AI and machine learning to enhance vehicle performance and user experience, positioning itself as a significant player in the burgeoning EV market with a vision of connected, sustainable urban mobility.

Top 10 Traded Consumer Staples Stocks:

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

Walgreens Boots Alliance Inc. (WBA) is a global leader in retail and wholesale pharmacy. Operating in over 25 countries, it includes the well-known Walgreens and Boots brands. WBA focuses on health and wellness, offering prescription drugs, health and beauty products, and various healthcare services.

Top 10 Traded Technology Stocks:

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

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