Mid-Market: S&P/ASX 200 Trading Higher; Mirroring US Markets Gains

On 03 October 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 11.00 points or 0.09%, and is currently trading at 8,204.50 levels. Out of 11, 5 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Industrials sectors are the top 2 gaining sectors, gaining 0.52% and 0.05% in their index values. On the other hand, Utilities and Consumer Staples sectors are the top 2 declining sectors, declining 0.32% and 0.07% in their index values.

Car Group Limited (ASX: CAR) and Arcadium Lithium Limited (ASX: LTM) are the top-gaining stocks, gaining 3.132% and 1.744% in their stock prices. On the other hand, New Hope Corporation Limited (ASX: NHC) and Pilbara Minerals Limited (ASX: PLS) are the top-losing stocks and are declining by 5.748% and 4.532% in their stock prices.

Factors influencing the market-

• Australian share market rising cautiously as traders weigh the risks of escalating tensions in the Middle East that gripped markets in the previous session.
• The yen plunged after Japan’s new Prime Minister, Shigeru Ishiba, jolted currency markets by saying the economy isn’t ready for another interest-rate hike from the central bank.
• Oil prices edged up in the previous session on worries that the escalating conflict in the Middle East could threaten oil supplies from the world's top producing region, but a large build in U.S. crude inventories limited gains.
• The Dow has closed up by 0.09%, the S&P 500 closed up by 0.01%, and the NASDAQ ended higher by 0.08%.
• Hang Seng is up by 6.20%, and FTSE 100 is up by 0.17%.

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