Mid-Market: S&P/ASX 200 Trading Flat; Ahead of US Federal Reserves Rates Decision This Week

On 30 April 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 11.50 points or 0.15%, and is currently trading at 7,648.90 levels. Out of 11 sectors, 10 sectors are trading lower despite with the gain in the S&P/ASX 200.

The Materials sector is the only gaining sector, gaining 0.64% in its index value. On the other hand, Energy and Industrials sectors are the top 2 declining sectors, declining 0.94% and 0.79% in their index values.

Arcadium Lithium Limited (ASX: LTM) and IGO Limited (ASX: IGO) are the top-gaining stocks, gaining 10.322% and 6.105% in their stock prices. On the other hand, Worley Limited (ASX: WOR) and Ampol Limited (ASX: ALD) are the top-losing stocks and are declining by 10.975% and 4.071% in their stock prices.

Factors influencing the market-

• Australian shares trading flat today, as investors took a breath while they waited for the US Federal Reserve’s rates decision this week.
• Ampol Limited’s shares are declining after reporting a 21% drop to US$11.80 per barrel in Lytton Refiner Margin (LRM) in the three months to March from a year ago, as Singapore refined product cracks were lowered.
• Oil prices lost more than US$1 a barrel as Israel ceasefire talks in Cairo tempered fears of a broader Middle East conflict, while US inflation data dimmed the prospect of imminent interest rate cuts.
• The Dow has closed up by 0.38%, the S&P 500 up by 0.32%, and the NASDAQ ended higher by 0.35%.
• Hang Seng is up by 0.54%, and FTSE 100 is up by 0.09%.

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