Written by Dreamer
On May 7, 2024, the U.S. stock market closed with slight gains.
- S&P 500: Closed at 5,187.70, up 6.96 points or 0.13%.
- Dow 30: Closed at 38,884.26, up 31.99 points or 0.08%.
- Nasdaq: Closed at 16,332.56, down 16.69 points or -0.10%.
- Russell 2000: Closed at 2,064.65, up 3.97 points or 0.19%.
The stock market saw modest gains, with the S&P 500 and Dow 30 showing slight improvements, while the Nasdaq experienced a small decline. The Russell 2000 also increased, reflecting a positive movement in smaller cap stocks. This movement came despite mixed performances in specific sectors, highlighting a cautious optimism among traders. Investors will likely continue to monitor upcoming earnings reports and global economic signals, such as the European Central Bank’s interest rate decisions, which could impact market dynamics moving forward.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Utilities Stocks
- Top 10 Traded Energy Stocks
- Top 10 Traded Technology Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 3375 stocks experienced an increase in their stock prices.
- Losers: 3318 stocks saw a decrease in their stock prices.
- Unchanged: 459 stocks remained unchanged in their stock prices.
Overall, the market showed a nearly balanced performance between gainers and losers, with a small number of stocks remaining unchanged.
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 reflects a market dominated by Micro Cap companies, indicating a broad base of smaller enterprises alongside a minimal presence of the Mega Cap companies, such as Apple, Microsoft, and Alphabet.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Utilities: Leads with the highest trading volume.
- Energy and Technology: These sectors show substantial trading activity, closely following Utilities.
- Finance: Has relatively lower trading volumes compared to other sectors.
- Unknown: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Utilities Stocks:
- Leader: *PEGY dominates with a substantial trade volume, significantly higher than its peers.
- Following Closely: VST follows, though with a notably lower trade volume compared to PEGY.
- Bottom of the List: NRG is at the lower end in terms of daily trade volume among the top 10.
PEGY represents Public Service Enterprise Group Incorporated, a diversified energy company based in Newark, New Jersey. It operates primarily through its subsidiaries: PSEG Power, which manages various power generation facilities, and PSE&G, a regulated utility that provides gas and electricity in New Jersey.
Top 10 Traded Energy Stocks:
- Leader: *FCEL leads the chart with the highest daily trade volume, markedly ahead of the others.
- Following Closely: TELL and XOM are significant but considerably lag behind FCEL.
- Bottom of the List: MRO has the lowest daily trade volume among the top 10.
FuelCell Energy, Inc. (FCEL) specializes in designing, manufacturing, operating, and servicing fuel cell power plants that run on natural gas and biogas. These plants are used to generate clean, efficient, and reliable energy, supporting the shift towards sustainable energy solutions.
Top 10 Traded Technology Stocks:
- Leader: *PLTR stands out with the highest daily trade volume, showing a dominant trading activity.
- Following Closely: MARA and AAPL have significant volumes but are far behind PLTR.
- Bottom of the List: LYFT has the smallest daily trade volume in the sector top 10.
Palantir Technologies Inc. (PLTR) provides large-scale data analytics software solutions. Their platforms, Palantir Gotham and Palantir Foundry, are used by government agencies, financial institutions, and large corporations to integrate, manage, secure, and analyze vast amounts of information.
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