%Mid-Market: S&P/ASX 200 Trading Sharply Lower; After A Surprise Jump In US Jobs Data

On 13 January 2025, at AEDT 12:30 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 112.10 points or 1.35%, and is currently trading at 8,182.00 levels. Out of 11, 9 sectors are trading lower along with the decline in the S&P/ASX 200.

The Energy and Utilities sectors are the top 2 gaining sectors, gaining 1.75% and 0.50% in their index values. On the other hand, Information Technology and Financials sectors are the top 2 declining sectors, declining 2.20% and 1.87% in their index values.

Woodside Energy Limited (ASX: WDS) and The Star Entertainment Group Limited (ASX: SGR) are the top-gaining stocks, gaining 2.335% and 2.272% in their stock prices. On the other hand, Premier Investments Limited (ASX: PMV) and NRW Holdings Limited (ASX: NWH) are the top-losing stocks and are declining by 15.255% and 9.318% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is trading sharply lower after a surprise jump in US jobs data dashed hopes for an imminent interest rate cut from the Federal Reserve.
• Insignia Financial’s share price lifted after the company received an offer from Bain Capital to acquire its shares for $4.30 to match CC Capital’s bid.
• Novonix Limited’s shares are declining today after the US Department of Energy did not permit the battery materials producer to receive certain tax credits that would have made it eligible for an additional loan to fund its Tennessee facility.
• Australian 10-year bond yields jumped 10 basis points to a two-month high of 4.63%, tracking US Treasuries higher and marching towards a peak of 4.71% set in November 2024.
• Oil prices hit their highest level in more than three months today, extending their rally on expectations that wider U.S. sanctions will affect Russian crude supplies to the world's top and third largest importers China and India.
• The Dow has closed down by 1.63%, the S&P 500 closed down by 1.54%, and the NASDAQ ended lower by 1.63%.
• Hang Seng is down by 1.24%, and FTSE 100 is down by 0.86%.

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