Written by Dreamer
On May 23, 2024, the U.S. stock market experienced a downturn.
- S&P 500: Closed at 5,267.84, down 39.17 points or -0.74%.
- Dow 30: Closed at 39,065.26, down 605.78 points or -1.53%.
- Nasdaq: Closed at 16,736.03, down 65.51 points or -0.39%.
- Russell 2000: Closed at 2,048.41, down 33.30 points or -1.60%.
The U.S. stock market faced a significant decline amid growing inflation concerns that overshadowed excitement around artificial intelligence. The Dow 30 experienced its largest drop in a year, driven by inflation worries and dimmed investor sentiment. The tech-heavy Nasdaq and broader S&P 500 also saw declines, though less steep compared to the Dow. The Russell 2000, tracking smaller-cap stocks, also recorded a noticeable fall, reflecting broader market apprehensions regarding future interest rate hikes and economic stability. The recent economic data and surveys suggesting increased inflationary pressure have led to a reevaluation of interest rate cut expectations, impacting market dynamics.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Industrials Stocks
- Top 10 Traded Technology Stocks
- Top 10 Traded Basic Materials Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 1392 stocks experienced an increase in their stock prices.
- Losers: 5387 stocks saw a decrease in their stock prices.
- Unchanged: 385 stocks remained unchanged in their stock prices.
This overview indicates more stocks declined than advanced, suggesting a bearish market trend for the day.
Market Cap Category Distribution:
The market cap breakdown of companies is as below:
- Micro Cap: These smallest companies make up nearly half the market, representing 49%.
- Small Cap: Almost a quarter of the companies fall into this category, accounting for 23%.
- Mid Cap: These medium-sized companies constitute a significant portion, with 16%.
- Large Cap: Larger companies make up just over a tenth of the market, at 11%.
- Mega Cap: The largest companies, or Mega Caps, are rare, comprising only 1%.
This displays a diverse market with a significant number of smaller companies indicating a dynamic and varied business environment.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Industrials: Leads with the highest trading volume.
- Technology: These sectors show substantial trading activity, closely following Industrials.
- Basic Materials: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Industrials Stocks:
- Leader: *GWAV leads with the highest trade volume, significantly higher than the rest.
- Following Closely: PEGY has substantial volumes but significantly less than GWAV.
- Bottom of the List: ACHR has the lowest trading volume among the top 10.
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 Technology Stocks:
- Leader: *ASTI stands out with the highest trading volume in the sector.
- Following Closely: CRKN follows with a strong trading volume but still less than ASTI.
- Bottom of the List: MTC has the lowest trading volume among the stocks.
Ascent Solar Technologies, Inc. (ASTI) specializes in producing photovoltaic solar modules known for their lightweight and flexible properties. Established in 2005 and based in Thornton, Colorado, Ascent Solar focuses on markets like agrivoltaics, aerospace, satellites, and unmanned aerial vehicles. The company’s products are marketed through various channels such as OEMs, system integrators, distributors, retailers, and value-added resellers.
Top 10 Traded Basic Materials Stocks:
- Leader: *GOLD dominates with the highest trading volume in the sector.
- Following Closely: VALE shows strong trading volumes, but less than GOLD.
- Bottom of the List: NEM is at the lower end in terms of trading volume among the stocks.
Barrick Gold Corporation (GOLD), headquartered in Toronto, Canada, is one of the world’s largest gold mining companies. It operates mines in North America, South America, and Africa with a significant focus on gold but also produces copper. The company aims for operational excellence and sustainable practices, positioning itself as a major player in the global mining industry with a commitment to safety and environmental management.
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