Mid-Market: S&P/ASX 200 Trading Higher; Despite A Sharp Sell Off In Materials Sector

On 22 January 2025, at AEDT 12:30 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 41.00 points or 0.49%, and is currently trading at 8,443.40 levels. Out of 11, 9 sectors are trading higher along with the gain in the S&P/ASX 200.

The Information Technology and Financial sectors are the top 2 gaining sectors, gaining 1.50% and 1.08% in their index values. On the other hand, Materials and Energy sectors are the top 2 declining sectors, declining 0.68% and 0.40% in their index values.

Paladin Energy Limited (ASX: PDN) and Boss Energy Ltd (ASX: BOE) are the top-gaining stocks, gaining 9.401% and 9.042% in their stock prices. On the other hand, Iluka Resources Limited (ASX: ILU) and Sigma Healthcare Limited (ASX: SIG) are the top-losing stocks and are declining by 8.835% and 3.957% in their stock prices.

Factors influencing the market-

• The Australian share market is trading higher today despite a sharp sell-off in Australian miners as President Donald Trump announced he was considering a 10 per cent tariff on China.
• Woodside Energy Limited’s shares fell, dragging the energy sector lower. The company reported record output in 2024 but said production in the most recent quarter fell 3% due to seasonal demand.
• Oil prices settled lower on oversupply concerns after President Donald Trump declared a national energy emergency as part of plan to drastically boost domestic production, but oil traders may have some reprieve later this week as Macquarie forecast a larger drawn down in weekly domestic supplies, driven by surging crude exports.
• The Dow has closed up by 1.24%, the S&P 500 closed up by 0.88%, and the NASDAQ ended higher by 0.64%.
• Hang Seng is up by 0.91%, and FTSE 100 is up by 0.33%.

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