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

On 09 July 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 45.30 points or 0.58%, and is currently trading at 7,808.50 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Telecommunication Services and Materials sectors are the top 2 gaining sectors, gaining 1.19% and 0.71% in their index values.

Sims Limited (ASX: SGM) and Life360 Inc. (ASX: 360) are the top-gaining stocks, gaining 5.268% and 3.177% in their stock prices. On the other hand, Deep Yellow Limited (ASX: DYL) and Boss Energy Ltd. (ASX: BOE) are the top-losing stocks and are declining by 2.993% and 2.632% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is trading higher today after a rally in blue-chip tech stocks pushed the S&P 500 to set its 35th record high.
• Bapcor Limited’s shares are declining after rejecting a $1.83b buyout offer from Bain Capital as it said the proposal from Bain did “not represent fair value” of the company.
• Oil prices steadied after a two-day drop with the worst of storm Beryl over, ahead of Federal Reserve Chair Jerome Powell’s report on monetary policy that’ll shape broader sentiment toward risk assets including commodities.
• The Dow has closed down by 0.08%, the S&P 500 closed up by 0.10%, and the NASDAQ ended higher by 0.27%.
• Hang Seng is down by 1.55%, and FTSE 100 is down by 0.13%.

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