U.S Stock Market Summary – May 31, 2024

Dreamer

Written by Dreamer

On May 31, 2024, the U.S. stock market showed mixed results, reflecting diverse investor sentiments.

  • S&P 500: Closed at 5,277.51, up 42.03 points or +0.80%.
  • Dow 30: Closed at 38,686.32, up 574.84 points or +1.51%.
  • Nasdaq: Closed at 16,735.02, down 2.06 points or -0.01%.
  • Russell 2000: Closed at 2,070.13, up 13.53 points or +0.66%.

While the Dow 30 and S&P 500 saw significant gains, bolstered by strong performances in key sectors, the Nasdaq experienced a slight decline, barely moving with a marginal drop. The Russell 2000 index, representing smaller-cap stocks, also posted gains, indicating investor confidence in smaller companies. Overall, the market’s varied performance points to cautious optimism with a focus on upcoming economic data that could influence future trends.

Contents:

Insights:

Stock Performance Overview:

Stock performance overview is as below:

  • Gainers: 4,369 stocks experienced an increase in their stock prices.
  • Losers: 2,372 stocks saw a decrease in their stock prices.
  • Unchanged: 378 stocks remained unchanged in their stock prices.

This indicates a market day where there were more gainers than losers.

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 underscores the dominance of smaller companies in terms of sheer numbers within the market, while the larger entities, though fewer, hold a larger share of market value.

Sector-Wise:

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

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

Top 10 Traded Miscellaneous Stocks:

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

Nuburu, Inc. (BURU) specializes in high-power and high-brightness industrial blue laser technology. This innovative company is known for its contributions to the industrial sector, particularly in applications requiring precise, high-energy laser systems. Nuburu’s technology has earned it various contracts and collaborations, including notable engagements with NASA and the U.S. Air Force, highlighting its role in advancing industrial applications with its specialized laser solutions.

Top 10 Traded Telecommunications Stocks:

  • Leader: *T stands out with the highest trading volume in the sector.
  • Following Closely: WBD 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), based in Dallas, Texas, delivers global telecommunications and technology services. Its operations are divided into two segments: Communications and Latin America. The Communications segment offers wireless services and products, including voice and data plans, along with broadband and VoIP services for businesses and residential customers under various brand names like AT&T, Cricket, and AT&T Fiber. It also provides high-tech solutions such as Virtual Private Networks and cloud services. The Latin America segment, under the AT&T and Unefon brands, offers wireless services in Mexico and sells smartphones. Originally SBC Communications Inc., the company renamed to AT&T Inc. in 2005.

Top 10 Traded Technology Stocks:

  • Leader: *CRKN dominates with the highest trading volume in the sector.
  • Following Closely: INTC shows strong trading volumes, but less than CRKN.
  • Bottom of the List: PLTR is at the lower end in terms of trading volume among the stocks.

Crown ElectroKinetics Corp. (CRKN) specializes in smart glass technology, known for its DynamicTint™ system that transforms glass from clear to dark swiftly. Developed from technology originated at Hewlett-Packard, it is used in buildings, vehicles, and homes. The company, established in 2015 in Corvallis, Oregon, focuses on energy efficiency and partners with major manufacturers to produce and distribute its products. CRKN also explores innovations in fiber optics for 5G infrastructure.

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