Mid-Market: S&P/ASX 200 Trading Higher; Life360 Inc. Rallied By More Than 28%

On 01 March 2024, at AEDT 11:40 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 6.10 points or 0.08%, and is currently trading at 7,704.80 levels. Out of 11 sectors, 6 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Information Technology sectors are the top 2 gaining sectors, gaining 1.21% and 1.03% in their index values. On the other hand, Healthcare and Telecommunication Services sectors are the top 2 declining sectors, declining 1.18% and 0.15% in their index values.

Life360 Inc. (ASX: 360) and Core Lithium Ltd (ASX: CXO) are the top-gaining stocks, gaining 28.676% and 9.523% in their stock prices. On the other hand, Collins Food Limited (ASX: CKF) and Boss Energy Ltd (ASX: BOE) are the top-losing stocks and are declining by 7.000% and 5.578% in their stock prices.

Factors influencing the market-

• Australian shares touched the record high of 7733.2 points in early trade today with the benchmark index tracking to its sixth gain in seven sessions as markets bet central banks will pivot to rate cuts in 2024.
• Life360 Inc’s shares rallied today following the company reported a 33% increase in its revenue to US$305 million and full-year positive adjusted EBITDA of US$20.6 million ahead of guidance of US$12 million to US$16 million.
• Oil prices edged lower on today as US inflation data implied a softening of the world’s biggest economy that could weaken crude demand, with rising OPEC production also weighing on prices.
• The Dow has closed up by 0.12%, the S&P 500 up by 0.52%, and the NASDAQ ended higher by 0.90%.
• Hang Seng is down by 0.15%, and FTSE 100 is up by 0.07%.

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