Mid-Market: S&P/ASX 200 Trading Higher; Gained By Energy And Materials Sectors

On 10 October 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 44.90 points or 0.55%, and is currently trading at 8,232.00 levels. Out of 11, 8 sectors are trading higher along with the gain in the S&P/ASX 200.

The Energy and Materials sectors are the top 2 gaining sectors, gaining 0.78% and 0.78% in their index values. On the other hand, Utilities and Healthcare sectors are the top 2 declining sectors, declining 0.34% and 0.11% in their index values.

Liontown Resources Limited (ASX: LTR) and Netwealth Group Limited (ASX: NWL) are the top-gaining stocks, gaining 6.962% and 3.937% in their stock prices. On the other hand, Steadfast Group Limited (ASX: SDF) and Spark New Zealand Limited (ASX: SPK) are the top-losing stocks and are declining by 1.856% and 1.596% in their stock prices.

Factors influencing the market-

• Australian shares are rising in line with Wall Street on expectations of more US interest rate cuts, with miners pushing higher on hopes of further stimulus coming from China.
• Netwealth Group Limited’s shares grew after posting a record increase in funds under administration over the September quarter thanks to new money and positive market movements.
• Oil prices settled lower as a larger-than-expected jump in U.S. crude supplies offset ongoing supply disruptions concerns stemming from ongoing conflict in the Middle East and imminent landfall of Hurricane Milton in the United States.
• The Dow has closed up by 1.03%, the S&P 500 closed up by 0.71%, and the NASDAQ ended higher by 0.60%.
• Hang Seng is down by 1.38%, and FTSE 100 is up by 0.65%.

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