U.S Stock Market Summary – June 17, 2024

Dreamer

Written by Dreamer

On June 17, 2024, the U.S. stock market closed with positive movement across all major indices.

  • S&P 500: Closed at 5,473.23, up 41.63 points or +0.77%.
  • Dow 30: Closed at 38,780.10, up 188.94 points or +0.49%.
  • Nasdaq: Closed at 17,857.02, up 168.14 points or +0.95%.
  • Russell 2000: Closed at 2,022.01, up 15.85 points or +0.79%.

The S&P 500, Dow 30, Nasdaq, and Russell 2000 all closed higher, signaling strong investor confidence. The Nasdaq led gains among the indices, marking a particularly strong day for tech stocks. This continued upward trend follows multiple record highs for the S&P 500 and Nasdaq, driven by bullish market sentiment and positive expectations about corporate performance and economic indicators. The day’s gains suggest optimism despite potential changes in Federal Reserve policies, with investors closely monitoring upcoming economic data and central bank statements for insights into future rate adjustments.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 3,534 stocks experienced an increase in their stock prices.
  • Losers: 3,191 stocks saw a decrease in their stock prices.
  • Unchanged: 419 stocks remained unchanged in their stock prices.

This reflects a relatively balanced trading session with a slight edge to the gainers, suggesting a cautiously optimistic sentiment in the market.

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 a market primarily dominated by Micro Cap companies, suggesting a landscape rich in smaller enterprises, whereas Mega Caps, despite their large individual market valuations, are significantly less common.

Sector-Wise:

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

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

Top 10 Traded Technology Stocks:

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

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 Telecommunications Stocks:

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

Comcast Corporation (CMCSA) operates globally as a media and technology company, with divisions spanning Residential Connectivity & Platforms, Business Services, Media, Studios, and Theme Parks. Key offerings include broadband, wireless services, and video under its connectivity branch, while its media segment houses NBCUniversal and the streaming platform Peacock. Additionally, Comcast is involved in film and television production and operates Universal theme parks. Founded in 1963 and based in Philadelphia, Comcast is a major player in the media and technology landscapes.

Top 10 Traded Energy Stocks:

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

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​.

See more:
Yahoo Finance: Stock market today: Stocks zoom higher as S&P 500 notches 30th record close of 2024


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