U.S Stock Market Weekly Summary – From June 10 to June 14, 2024

Written by Dreamer

Weekly Summary:

• S&P 500: Started the week at 5,341.22 and closed at 5,431.60, up by 90.38 points or +1.69%.
• Dow 30: Started the week at 38,784.90 and closed at 38,589.16, down by 195.74 points or –0.50%.
• Nasdaq: Started the week at 17,083.45 and closed at 17,688.88, up by 605.43 points or 3.54%.
• Russell 2000: Started the week at 2,012.22 and closed at 2,006.16, down by 6.06 points or –0.30%.

This week, the S&P 500 rose by 90.38 points (+1.69%), closing at 5,431.60. The Nasdaq saw significant gains, up 605.43 points (+3.54%) to 17,688.88. In contrast, the Dow 30 fell by 195.74 points (-0.50%) to 38,589.16, and the Russell 2000 dipped slightly by 6.06 points (-0.30%) to 2,006.16. Overall, the market showed mixed results with strong performances in the S&P 500 and Nasdaq, while the Dow 30 and Russell 2000 saw minor declines.

Contents:

• Stock Trading Volume
• Average Number of Companies By Sector in a Week
• Average Market Cap By Sector in a Week
• Average Trading Volume By Sector in a Week
• Top 10 Growth Stocks
• Stock in Focus

Insights:

Stock Trading Volume:

Daily trading volume fluctuated significantly over the week. Monday, 10 June 2024, started with a volume of 8.93 billion shares. This increased slightly to 9.02 billion shares on Tuesday. Wednesday saw the highest volume of the week at 9.45 billion shares. However, trading volume decreased to 8.41 billion shares on Thursday. Friday’s volume remained relatively stable at 8.46 billion shares. These changes suggest varying investor activity influenced by market news and economic data.

Average Number of Companies By Sector in a Week:

• Leader: Finance leads with 1,706 companies.
• Follow Closely: Health Care, Consumer Discretionary, and Technology follow closely with 1,220, 1,179, and 783 companies, respectively.
• Last in the List: Miscellaneous has the fewest with 61 companies.

The Finance, Health Care, and Consumer Discretionary sectors are the most populated, suggesting high level of importance in the market. Technology also shows strong representation, aligning with current trends in innovation.

Average Market Cap By Sector in a Week:

• Leader: Technology is the leading sector, accounting for 34.2% of the total market cap.
• Follow Closely: Consumer Discretionary comes next with 17.8%, followed by Finance at 11.4% and Heath Care at 10.8%.
• Last in the List: Basic Materials (0.8%) and Miscellaneous (0.1%) have the second smallest and smallest market caps, respectively.

The Technology sector holds a commanding lead in market capitalization, indicating its critical role in the market. Consumer Discretionary, Finance and Health Care also have substantial market caps, reflecting their significant impact. In contrast, sectors like Basic Materials and Miscellaneous have minimal market presence.

Average Trading Volume By Sector in a Week:

• Leader: Consumer Discretionary sector leads with the highest average trading volume of 2,054 million shares.
• Follow Closely: Technology (1,917 million) also has high trading volumes.
• Last in the List: Miscellaneous (119 million) has the lowest trading volumes.

The Consumer Discretionary sector dominates in trading volume, highlighting its attractiveness to investors. Technology also sees substantial trading activity. In contrast, Miscellaneous has the lowest trading volumes, indicating less market interest.

Top 10 Growth Stocks:

Stock Trading Summary as of 14 June 2024

These are the top 10 growth stocks that have shown significant growth in recent months. Out of these 10 stocks, INSM is selected for detailed analysis as shown below.

Stock in Focus:

Overview:

Insmed Incorporated (INSM) is a biopharmaceutical company that develops and commercializes therapies for patients with serious and rare diseases. The company’s key product, ARIKAYCE, is used to treat lung diseases caused by Mycobacterium avium complex. Insmed is also developing Brensocatib for bronchiectasis and other neutrophil-mediated diseases, and Treprostinil Palmitil Inhalation Powder for pulmonary hypertension associated with interstitial lung disease and pulmonary arterial hypertension. Founded in 1988, Insmed is headquartered in Bridgewater, New Jersey.

Institutional Investment:

INSM has significant institutional backing, with 95.04% of its shares held by institutions. Major institutional investors include Vanguard Group Inc. (9.76%) and Blackrock Inc. (7.94%). The high percentage of institutional ownership indicates strong confidence from major investors.

Financial:

• Market Cap: $10.43 billion
• Profit Margin: -236.74%
• Recent Earnings (Most Recent 4 Quarters)
  • Q2 2023: EPS of -$1.78 (missed estimate by $0.65), negative earnings surprise of -57.50%.
  • Q3 2023: EPS of -$1.11 (beat estimate by $0.02), positive earnings surprise of 1.80%.
  • Q4 2023: EPS of -$1.28 (missed estimate by $0.13), negative earnings surprise of -11.30%.
  • Q1 2024: EPS of -$1.06 (beat estimate by $0.17), earnings surprise of 13.80%.

INSM is currently not profitable, as indicated by its negative profit margin and earnings. However, the company has shown some improvements in earnings surprises, beating estimates in two out of the last four quarters.

The chart:

In the last six months, there is a significant upward trend, with the stock price increasing by 122.64%. The closing price on 14 June 2024 was $63.92, up by 4% from the previous close.

Conclusion:

INSM is making strides in the biopharmaceutical industry with its innovative therapies for serious and rare diseases. The company has strong institutional backing, reflecting confidence in its growth potential. Despite current financial losses, Insmed has managed to achieve positive earnings surprises in recent quarters. The stock has performed well over the past six months, indicating strong investor interest and optimism about the company’s future prospects.

See more:
Yahoo Finance: Insmed Incorporated (INSM)