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

On 03 July 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining  20.10 points or 0.26%, and is currently trading at 7,739.60 levels. Out of 11 sectors, 8 sectors are trading higher along with the gain in the S&P/ASX 200.

The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 0.42% and 0.32% in their index values. On the other hand, Consumer Discretionary and Telecommunication Services sectors are the top 2 declining sectors, declining 0.12% and 0.07% in their index values.

Alumina Limited (ASX: AWC) and Paladin Energy Limited (ASX: PDN) are the top-gaining stocks, gaining 3.892% and 2.502% in their stock prices. On the other hand, Graincorp Limited (ASX: GNC) and Neuren Pharmaceuticals Ltd (ASX: NEU) are the top-losing stocks and are declining by 4.167% and 1.393% in their stock prices.

Factors influencing the market-

• Australian shares trading higher, taking direction from Wall Street as US equities advanced and bond yields declined after Federal Reserve chairman Jerome Powell said the disinflationary path is intact, opening the door to a pivot to rate cuts later this year.
• APA Group Limited’s shares declined today after it said it expected a non-cash impairment of $145 million to its Moomba Sydney Ethane pipeline. The forecasted impairment would result in a full write-down of the book value of Moomba Sydney Ethane pipeline and will be recorded in its FY24 statements.
• Crude oil prices fell in the previous session as fears faded that Hurricane Beryl would disrupt supplies as the storm will avoid most oil fields as it barrels toward Jamaica.
• The Dow has closed up by 0.41%, the S&P 500 closed up by 0.62%, and the NASDAQ ended higher by 0.84%.
• Hang Seng is up by 0.29%, and FTSE 100 is down by 0.56%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com