Mid-Market: S&P/ASX 200 Rallying Today By 0.49%; Lifted by Materials

On 14 July 2023, at AEST 10:37 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 34.70 points or 0.49%, and is currently trading at 7,281.60 levels. Out of 11 sectors, 8 sectors are trading higher along with the S&P/ASX 200. The Materials and Information Technology sectors are the top 2 gaining sectors, gaining 1.15% and 0.93% in their index values.

Block Inc. (ASX: SQ2) and Sandfire Resources Limited (ASX: SFR) are the top-gaining stocks, gaining 4.896% and 4.160% in their stock prices. On the other hand, Domain Holdings Australia Limited (ASX: DHG) and Eagers Automobile Limited (ASX: APE) are the top-losing stocks and are declining by 1.575% and 1.068% in their stock prices.

Factors influencing the market-

• The Australian share market opened with a 0.4% increase, rising 30.2 points to reach 7277.1, driven by gains in technology stocks following the positive performance of New York markets.
• The probability of an August cash rate increase in the market has decreased to 43% from its previous level of over 60% on Monday.
• Neuren, a junior biotech company, experienced a significant surge of 18.4% in its share price after signing an expanded licensing agreement with its US distribution partner, Acadia.
• The Dow closed with a 0.25% increase, the S&P 500 rose by 0.74%, and the NASDAQ ended the day higher with a 1.15% gain.
• The Hang Seng index recorded a notable increase of 2.60%, while the FTSE 100 showed a modest rise of 0.32% today.

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