Mid-Market: S&P/ASX 200 Trading Higher By 0.41%; US FED Pause Lifting Rates

On 15 June 2023, at AEST 11:15 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 29.50 points or 0.41%, and is currently trading at 7,191.20 levels. Out of 11 sectors, 8 sectors are trading higher along with the S&P/ASX 200.

The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 1.12% and 0.89% in their index values. On the other hand, the Healthcare and Utilities sectors are the top 2 losing sectors, declining 1.97% and 0.42% in their index values.

Aurizon Holdings Limited (ASX: AZJ) and Champion Iron Limited (ASX: CIA) are the top-gaining stocks, gaining 3.501% and 3.220% in their stock prices. On the other hand, Incitec Pivot Limited (ASX: IPL) and Lynas Rare Earths Limited (ASX: LYC) are the top-losing stocks and are declining by 3.861% and 3.060% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is trading higher after US Fed opted to pause lifting rates this month even though they updated forecasts and pointed to rates peaking another half point higher later this year.
• Crude prices fell almost 2% in the previous session, clawing back most of their gains from the, after data showed crude stockpiles grew seven times more than expected last week.
• Gold prices are muted today, tracking mixed signals from the Federal Reserve after the central bank kept rates steady but warned that it would likely hike at least two more times this year.
• Dow has closed down by 0.68%, S&P 500 up by 0.08%, and NASDAQ ended higher by 0.39%.
• Hang Seng is down by 0.58%, and FTSE 100 is up by 0.10%.

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