Mid-market: S&P/ASX 200 Trading Lower; A11 Sectors Are Trading In Red

On 19 July 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 95.60 points or 1.19%, and is currently trading at 7,940.90 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. Materials and A-REIT sectors are the top 2 declining sectors, declining 2.20% and 1.42% in their index values.

Audinate Group Limited (ASX: AD8) and Domino’s Pizza Enterprises Limited (ASX: DMP) are the top-gaining stocks, gaining 4.014% and 2.204% in their stock prices. On the other hand, Lifestyle Communities Limited (ASX: LIC) and Sandfire Resources Limited (ASX: SFR) are the top-losing stocks and are declining by 13.123% and 6.026% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is declining today after tech stocks plunged, tracking a global sell-off in businesses linked to the rise of artificial intelligence and partially reversing an 18-month rally for the sector.
• Telix Pharmaceuticals Limited’s shares are declining despite the company has lifted its sales guidance for FY24 to be between $745 million and $776 million as a result of strong sales for its prostate cancer imaging product Illuccix.
• Shares of Domino’s Pizza are declining today following it has warned that it will close stores in France and Japan as it downgraded guidance for group store growth in the years ahead.
• Australian bond yields and the dollar edged fractionally higher after the release of data that showed Australia’s jobs market remains “relatively tight”.
• Oil rebounded from three-week lows as technical levels provided a floor for losses and a government report showed another decline in US crude stockpiles.
• The Dow has closed down by 1.29%, the S&P 500 closed down by 0.78%, and the NASDAQ ended lower by 0.70%.
• Hang Seng is up by 0.22%, and FTSE 100 is up by 0.21%.

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