%Mid-Market: S&P/ASX 200 Trading Higher; All 11 Sectors Are Trading In Green Zone

On 08 November 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 80.80 points or 0.98%, and is currently trading at 8,307.10 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Materials and A-REIT sectors are the top 2 gaining sectors, gaining 2.00% and 1.43% in their index values.

Neuren Pharmaceuticals Limited (ASX: NEU) and Deep Yellow Limited (ASX: DYL) are the top-gaining stocks, gaining 6.597% and 6.007% in their stock prices. On the other hand, Block Inc. (ASX: SQ2) and Mineral Resources Limited (ASX: MIN) are the top-losing stocks and are declining by 6.818% and 2.185% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is gaining today following US indexes higher after the Federal Reserve policymakers voted for a quarter-point rate cut and ahead of news of more stimulus out of China.
• SQ2 shares are declining after the company has reported a 19% jump in profits in the September quarter to US$2.25 billion ($3.37 billion) but missed market expectations.
• News Corporation Limited is rising today following the company’s long-time chief financial officer, Susan Panuccio, will step down from January to be replaced by Diageo’s Lavanya Chandrashekar, as it reports a revenue and earnings surge driven by its real estate investments. 
• Oil prices rose overnight, tracking equity markets, as traders digested competing narratives on how Donald Trump’s presidency will affect the crude market.
• The Dow has closed flat, the S&P 500 closed up by 0.74%, and the NASDAQ ended higher by 1.51%.
• Hang Seng is up by 2.02%, and FTSE 100 is down by 0.32%.

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