10 Top-Traded US Stocks for Wednesday (6/23)

Movers and Shakers wrote a column · Jun 24, 2021 10:24

The $S&P 500 Index (.SPX.US)$ snapped a two-day winning streak Wednesday, closing the regular session 0.1% lower. The $Dow Jones Industrial Average (.DJI.US)$ also shed 71.34 points, or 0.2%. Meanwhile, the $Nasdaq Composite Index (.IXIC.US)$ gained 0.1% to squeeze out another record closing high.

10 Top-Traded US Stocks for Wednesday (6/23)

Energy stocks rose as oil prices keep rising, outpacing other sectors

Eight out of 11 S&P 500 sectors closed in the red, led by utilities, which dropped 1.1%. However, energy names like $Exxon Mobil (XOM.US)$, $Occidental Petroleum (OXY.US)$ and $Devon Energy (DVN.US)$ rose as oil prices continued to climb. Technology names like $Tesla (TSLA.US)$ and $Netflix (NFLX.US)$ also closed higher.

Despite Wednesday's hiccup, the three major indexes are up more than 1% this week, rallying from a sell-off last week after the Federal Reserve heightened inflation expectations and forecast rate hikes as soon as 2023.

Comments from Fed Chair Jerome Powell during a Congressional testimony Tuesday reiterated that inflation pressures should be temporary, which seemed to soothe market sentiment.

10 top-traded US stocks for Wednesday

$Tesla (TSLA.US)$ stocks were up 5.27% during the session. According to Cars.com's annual American Made Index, Tesla Model 3 is the most American-made car, which is the first time an EV took the top spot, and Model Y ranks third.

$Amazon (AMZN.US)$ dropped slightly and closed at 0.05% lower. For the second year, Amazon said merchants' Prime Day sales grew more than its own retail business. Small businesses got $1.9 billion from pre-Prime Day promotions.

$Apple (AAPL.US)$, $AMC Entertainment (AMC.US)$, $NVIDIA (NVDA.US)$, $Microsoft (MSFT.US)$ and $Meta Platforms (FB.US)$ follow, with lower than 1% change in price.

$Roku Inc (ROKU.US)$, the eighth top-traded stock, is 3.3% higher, joining a market uptrend this morning after Deutsche Bank reiterated its Buy rating, expecting secular streaming trends will outpace pandemic gains.

$Alibaba (BABA.US)$ ranks 10th and closed 1.68% higher. According to TipRanks' analyst rating consensus, BABA stock comes in as a Strong Buy and good stock for long-term investors.

Movers & Shakers for Wednesday