U.S Stock Market Summary – June 21, 2024

Dreamer

Written by Dreamer

On June 21, 2024, the U.S. stock market experienced mixed outcomes.

  • S&P 500: Closed at 5,464.62, down -8.55 points or -0.16%.
  • Dow 30: Closed at 39,150.33, up 15.57 points or +0.04%.
  • Nasdaq: Closed at 17,689.36, down -32.23 points or -0.18%.
  • Russell 2000: Closed at 2,022.03, up 4.64 points or +0.23%.

The session showed a cautious market sentiment with slight gains in the Dow and Russell 2000, while the S&P 500 and Nasdaq experienced declines. Nvidia led the AI-driven rally but faced a significant loss, reflecting the volatility in tech stocks. Investors remain focused on economic data and potential interest rate cuts.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 3,446 stocks experienced an increase in their stock prices.
  • Losers: 3,283 stocks saw a decrease in their stock prices.
  • Unchanged: 420 stocks remained unchanged in their stock prices.

This reflects a balanced trading session with slightly more gainers than losers, indicating a cautiously optimistic 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 largely composed of smaller companies, while the largest firms are relatively scarce.

Sector-Wise:

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

  • Energy: Leads with the highest trading volume.
  • Telecommunications: 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: SLB 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 Telecommunications Stocks:

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

AT&T Inc. (T) is a global telecommunications giant offering wireless communications, digital entertainment, and high-speed internet services. Known for its mobile and fixed-line services, AT&T also provides digital TV through DIRECTV and U-verse. Additionally, it owns WarnerMedia, including HBO, Turner, and Warner Bros. AT&T focuses on enhancing connectivity and delivering innovative telecom and media solutions worldwide.

Top 10 Traded Technology Stocks:

  • Leader: *NVDA dominates with the highest trading volume in the sector.
  • Following Closely: AAPL shows strong trading volumes, but less than NVDA.
  • Bottom of the List: GOOGL 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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