Mid-Market: S&P/ASX 200 Sharply Higher By 1.59%; After US CPI Slows

On 15 November 2023, at AEDT 11:45 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 111.10 points or 1.59%, and is currently trading at 7,117.80 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200.

The A-REIT and Information Technology sectors are the top 2 gaining sectors, gaining 3.55% and 3.02% in their index values. On the other hand, the Energy sector is the only losing sector, declining 0.51% in its index value.

Centuria Capital Group (ASX: CNI) and Nufarm Limited (ASX: NUF) are the top-gaining stocks, gaining 8.202% and 7.905% in their stock prices. On the other hand, Karoon Energy Limited (ASX: KAR) and Computershare Limited (ASX: CPU) are the top-losing stocks and are declining by 10.417% and 3.834% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 shares have gained more than 100 points today, tracking solid gains from US markets, after the latest US inflation report boosted speculation that interest rates might have peaked.
• Life360 Inc.’ shares are gaining following the company reported $78.6 million in revenue in its third quarter, up 38% compared to the previous corresponding period.
• Seek Limited is rising after holding firm on its FY24 outlook as the job listing website begins its annual general meeting today.
• Allkem Limited’s shares are soaring after Australia’s foreign investment regulator has approved the proposed $16 billion merger between Allkem and Livent.
• Oil prices stayed in the black for a fourth day in a row as data showed US inflation moderated in October, cooling expectations for another rate hike before the year-end.
• The Dow has closed up by 1.43%, the S&P 500 up by 1.91%, and the NASDAQ ended higher by 2.37%.
• Hang Seng is down by 0.17%, and FTSE 100 is up by 0.20%.

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