Written by Dreamer
On May 21, 2024, the U.S. stock market experienced modest gains across most major indices. Despite these gains, the Russell 2000 bucked the trend, ending the day with a decline.
- S&P 500: Closed at 5,321.41, up 13.28 points or 0.25%.
- Dow 30: Closed at 39,872.99, up 66.22 points or 0.17%.
- Nasdaq: Closed at 16,832.62, up 37.75 points or 0.22%.
- Russell 2000: Closed at 2,098.36, down 4.14 points or -0.20%.
The U.S. markets showed resilience with the S&P 500 and Nasdaq reaching new highs, driven by investor confidence in tech stocks and anticipation of forthcoming economic insights. The upcoming Nvidia earnings and recent Fed comments have heightened focus on potential shifts in market trends and monetary policy implications, promising significant activity in upcoming trading sessions.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Consumer Discretionary Stocks
- Top 10 Traded Basic Materials Stocks
- Top 10 Traded Industrials Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 2,967 stocks experienced an increase in their stock prices.
- Losers: 3,709 stocks saw a decrease in their stock prices.
- Unchanged: 491 stocks remained unchanged in their stock prices.
The number of losers exceeded gainers, and this disparity may be attributed to the decline in the Russell 2000, a small cap stocks index.
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 dominance of Micro Cap companies in terms of numbers, indicating a market rich in smaller enterprises, while the larger companies are less numerous but often have a higher individual economic impact.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Consumer Discretionary: Leads with the highest trading volume.
- Basic Materials and Industrials: These sectors show substantial trading activity, closely following Consumer Discretionary.
- Unknown: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Consumer Discretionary Stocks:
- Leader: *MGOL leads with the highest trade volume, significantly higher than the rest.
- Following Closely: FFIE has substantial volumes but significantly less than MGOL.
- Bottom of the List: XPEV has the lowest trading volume among the top 10.
MGO Global, Inc. (MGOL) is a lifestyle brand portfolio company focused on the fashion and branding sectors. Established in 2018 and based in Fort Lauderdale, Florida, MGO Global specializes in the design, development, and management of brands, particularly the Messi brand. The company’s operations encompass a range of activities from fashion design to e-commerce, and retail sales, emphasizing licensing, intellectual property protection, and consumer engagement.
Top 10 Traded Basic Materials Stocks:
- Leader: *VALE stands out with the highest trading volume in the sector.
- Following Closely: FCX follows with a strong trading volume but still less than VALE.
- Bottom of the List: HL has the lowest trading volume among the stocks.
Vale S.A. (VALE), based in Rio de Janeiro, Brazil, is the world’s largest producer of iron ore and pellets and also mines nickel. The company boasts extensive logistics networks, including railroads and ports, to facilitate global distribution. Vale is increasingly engaging in the electric vehicle battery sector, supplying low-carbon nickel to companies like Tesla.
Top 10 Traded Industrials Stocks:
- Leader: *GWAV dominates with the highest trading volume in the sector.
- Following Closely: AGRI shows strong trading volumes, but less than GWAV.
- Bottom of the List: AA is at the lower end in terms of trading volume among the stocks.
Greenwave Technology Solutions, Inc. (GWAV) marks its presence in the industrials sector with a focus likely on manufacturing or production facilities that demand robust industrial solutions.
See more:
