U.S Stock Market Summary – June 20, 2024

Dreamer

Written by Dreamer

On June 20, 2024, the U.S. stock market exhibited mixed performance with majority of major indices closed lower.

  • S&P 500: Closed at 5,473.17, down 13.86 points or -0.25%.
  • Dow 30: Closed at 39,134.76, up 299.90 points or +0.77%.
  • Nasdaq: Closed at 17,721.59, down 140.64 points or -0.79%.
  • Russell 2000: Closed at 2,017.39, down 7.84 points or -0.39%.

The session was marked by a greater number of decliners than advancers, highlighting underlying caution among investors. The Dow managed to post a significant gain, driven by strong performance in non-tech sectors, while the tech-heavy Nasdaq, S&P 500, and smaller-cap Russell 2000 faced declines. This divergence reflects the market’s response to mixed economic signals and sector-specific news.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 3,108 stocks experienced an increase in their stock prices.
  • Losers: 3,583 stocks saw a decrease in their stock prices.
  • Unchanged: 449 stocks remained unchanged in their stock prices.

This session reflects more stocks declining than advancing, indicating a cautious or negative 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 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%.

This distribution highlights a market heavily dominated by smaller companies in terms of numbers, with fewer large and mega-cap companies.

Sector-Wise:

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

  • Technology: Leads with the highest trading volume.
  • Basic Materials: 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: SMX has substantial volumes but significantly less than NVDA.
  • Bottom of the List: CYN 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 Basic Materials Stocks:

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

Barrick Gold Corporation (GOLD), based in Toronto, Canada, is a top global gold mining company. It operates mines and exploration projects in North America, South America, Africa, and the Middle East. Barrick is dedicated to sustainable mining, producing high-quality gold and copper, and enhancing operational efficiencies. The company emphasizes strong environmental and social governance and is known for strategic acquisitions and partnerships to expand its global presence.

Top 10 Traded Energy Stocks:

  • Leader: *FCEL dominates with the highest trading volume in the sector.
  • Following Closely: PLUG shows strong trading volumes, but less than FCEL.
  • Bottom of the List: OXY 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​.

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