U.S Stock Market Summary – June 24, 2024

Dreamer

Written by Dreamer

On June 24, 2024, the U.S. stock market had a mixed performance.

  • S&P 500: Closed at 5,447.87, down 16.75 points or 0.31%.
  • Dow 30: Closed at 39,411.21, up 260.88 points or 0.67%.
  • Nasdaq: Closed at 17,496.82, down 192.54 points or 1.09%.
  • Russell 2000: Closed at 2,030.81, up 8.78 points or 0.43%.

The Dow experienced significant gains, driven by sectors outside technology, while the Nasdaq and S&P 500 faced declines due to a selloff in chip companies. This divergence highlights sector-specific investor responses to current economic signals.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 3,975 stocks experienced an increase in their stock prices.
  • Losers: 2,707 stocks saw a decrease in their stock prices.
  • Unchanged: 453 stocks remained unchanged in their stock prices.

The stock performance overview indicates a trading day with more stocks advancing than declining, suggesting a generally positive sentiment among investors despite the mixed performance in different sectors.

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 the dominance of smaller companies in the market by number.

Sector-Wise:

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

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

Top 10 Traded Consumer Staples Stocks:

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

Agrify Corporation (AGFY) provides advanced cultivation solutions for indoor agriculture, including high-tech grow systems, integrated software, and consulting services. Their technology aims to optimize yield, quality, and operational efficiency, promoting sustainable and scalable indoor farming practices.

Top 10 Traded Technology Stocks:

  • Leader: *NVDA stands out with the highest trading volume in the sector.
  • Following Closely: MLGO follows with a strong trading volume but still less than NVDA.
  • Bottom of the List: DJT 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 Energy Stocks:

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