Written by Dreamer
On May 8, 2024, the U.S. stock market saw mixed results with the Dow extending its winning streak and the Nasdaq dipping slightly.
- S&P 500: Closed at 5,187.67, down 0.03 points or 0.00%.
- Dow 30: Closed at 39,056.39, up 172.13 points or 0.44%.
- Nasdaq: Closed at 16,302.76, down 29.80 points or -0.18%.
- Russell 2000: Closed at 2,055.14, down 9.51 points or -0.46%.
The mixed market performance highlighted the resilience of the Dow, which extended its winning streak despite mixed earnings reports and comments from Federal Reserve officials that failed to significantly move the market. The yield on 2-year Treasury notes increased, while the 10-year yield experienced weak demand. The upcoming consumer price index data for April will be a significant focus, potentially influencing future interest rate decisions.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Energy Stocks
- Top 10 Traded Technology Stocks
- Top 10 Traded Basic Materials Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 3085 stocks experienced an increase in their stock prices.
- Losers: 3580 stocks saw a decrease in their stock prices.
- Unchanged: 476 stocks remained unchanged in their stock prices.
The market experienced a mixed day with a larger number of losers than gainers, indicating a predominantly downward trend despite a significant number of stocks increasing in value.
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 shows that Small Cap companies overwhelmingly dominate the market in terms of numbers.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Energy: Leads with the highest trading volume.
- Technology and Basic Materials: These sectors show substantial trading activity, closely following Energy.
- Finance: Has relatively lower trading volumes compared to other sectors.
- Unknown: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Energy Stocks:
- Leader: *FCEL (FuelCell Energy) leads the chart with the highest daily trade volume, markedly ahead of the others.
- Following Closely: PLUG (Plug Power) and TELL (Tellurian Inc.) are significant but considerably lag behind FCEL.
- Bottom of the List: BP (BP plc) 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: *ISUN (iSun, Inc.) stands out with the highest daily trade volume, showing a dominant trading activity.
- Following Closely: PLTR (Palantir Technologies) and INTC (Intel Corporation) have significant volumes but are far behind ISUN.
- Bottom of the List: AMD (Advanced Micro Devices) has the smallest daily trade volume in the sector top 10.
ISUN, Inc. (ISUN) specializes in solar energy services, offering innovative solar products and solutions.
Top 10 Traded Basic Materials Stocks:
- Leader: *DNN (Denison Mines Corp) dominates with a substantial trade volume, significantly higher than its peers.
- Following Closely: NXE (NexGen Energy) follows closely with slightly less trade volume than DNN.
- Bottom of the List: EXK (Endeavour Silver Corp) has the smallest daily trade volume in the sector top 10.
Denison Mines Corp (DNN) is a uranium exploration and development company focusing on the Athabasca Basin area of northern Saskatchewan, Canada—a region known for its high-grade uranium deposits. The company is actively engaged in mine development, exploration, and related activities.
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