Mid-Market: S&P/ASX 200 Trading Higher By 1.18%; following US FED left rates on hold

On 02 November 2023, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 80.80 points or 1.18%, and is currently trading at 6,919.10 levels. Out of 11 sectors, 9 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 2.52% and 2.49% in their index values. On the other hand, the Utilities and Energy sectors are the top 2 losing sectors, declining 0.52% and 0.39% in their index values.

Core Lithium Ltd (ASX: CXO) and Domain Holdings Australia Limited (ASX: DHG) are the top-gaining stocks, gaining 5.072% and 4.678% in their stock prices. On the other hand, Chalice Mining Limited (ASX: CHN) and Amcor Plc (ASX: AMC) are the top-losing stocks and are declining by 3.077% and 2.770% in their stock prices.

Factors influencing the market-

• The Australian share market is trading higher, tracking gains on Wall Street, following the Federal Reserve left rates on hold and traders upped their bets that US interest rates may finally have peaked.
• Origin Energy Limited’s shares are dropping after Brookfield and EIG sweetened their takeover bid for the company to $9.53 per share, after pressure from shareholders to up the previous $18.7 billion offer.
• CSR Limited is gaining today after earnings in the company’s building products segment jumped 18% to $165 million in the six months to September 30.
• Infratil Limited’s shares are pushing higher, following news that construction at the renewable energy developer’s major US solar farm is now underway.
• The Dow has closed up by 0.67%, the S&P 500 up by 1.05%, and the NASDAQ ended higher by 1.64%.
• Hang Seng is down by 0.06%, and FTSE 100 is up by 0.28%.

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