Written by Dreamer
On May 22, 2024, the U.S. stock market closed lower.
- S&P 500: Closed at 5,307.01, down -14.40 points or -0.27%.
- Dow 30: Closed at 39,671.04, down -201.95 points or -0.51%.
- Nasdaq: Closed at 16,801.54, down -31.08 points or -0.18%.
- Russell 2000: Closed at 2,081.71, down -16.65 points or -0.79%.
The markets reacted negatively, particularly influenced by the Federal Reserve’s latest minutes which hinted at a potential tightening of monetary policy if inflation continues to necessitate such measures. Upcoming earnings from Nvidia and other economic reports are likely to be significant for future market direction, with particular scrutiny on tech sectors influenced by AI developments.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Utilities Stocks
- Top 10 Traded Industrials Stocks
- Top 10 Traded Basic Materials Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 2,467 stocks experienced an increase in their stock prices.
- Losers: 4,241 stocks saw a decrease in their stock prices.
- Unchanged: 469 stocks remained unchanged in their stock prices.
The overview of the market’s performance shows that the number of decliners significantly outnumbered advancers, suggesting a cautious or bearish 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 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 breakdown shows a large presence of Micro Cap companies, suggesting a market filled with numerous smaller enterprises. Conversely, larger companies are fewer but typically carry more substantial individual economic influence.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Utilities: Leads with the highest trading volume.
- Industrials: These sectors show substantial trading activity, closely following Utilities.
- Basic Materials: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Utilities Stocks:
- Leader: *AKTS leads with the highest trade volume, significantly higher than the rest.
- Following Closely: PEGY has substantial volumes but significantly less than AKTS.
- Bottom of the List: WEC has the lowest trading volume among the top 10.
Akoustis Technologies, Inc. (AKTS) develops advanced bulk acoustic wave (BAW) RF filters for wireless markets, primarily targeting 5G networks with their proprietary XBAW® technology. This technology offers superior performance in terms of bandwidth, frequency, and power output compared to traditional filters.
Top 10 Traded Industrials Stocks:
- Leader: *GWAV stands out with the highest trading volume in the sector.
- Following Closely: SYTA follows with a strong trading volume but still less than GWAV.
- Bottom of the List: PARA has the lowest 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.
Top 10 Traded Basic Materials Stocks:
- Leader: *FCX dominates with the highest trading volume in the sector.
- Following Closely: KGC shows strong trading volumes, but less than FCX.
- Bottom of the List: AG is at the lower end in terms of trading volume among the stocks.
Freeport-McMoRan Inc. (FCX) is the world’s largest publicly traded copper producer and also mines gold and molybdenum. With operations spanning the Americas and Indonesia, the company oversees a vast portfolio of assets, boasting significant reserves of copper, gold, and molybdenum.
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