Mid-Market: S&P/ASX 200 Trading Lower; After Hot US Labour Data

On 01 May 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 94.80 points or 1.24%, and is currently trading at 7,569.30 levels. Out of 11 sectors, 10 sectors are trading lower along with the decline in the S&P/ASX 200.

The Consumer Staples sector is the only gaining sector, gaining 0.24% in its index value. On the other hand, Energy and Information Technology sectors are the top 2 declining sectors, declining 2.12% and 2.06% in their index values.

Amcor Plc (ASX: AMC) and Boss Energy Ltd (ASX: BOE) are the top-gaining stocks, gaining 3.762% and 2.631% in their stock prices. On the other hand, Alumina Limited (ASX: AWC) and Coronado Global Resources Inc. (ASX: CRN) are the top-losing stocks and are declining by 5.847% and 5.824% in their stock prices.

Factors influencing the market-

• Australian shares declined more than 1% after hot US labor data shocked Wall Street amid concern that sticky inflation will force the Federal Reserve to keep interest rates high for longer.
• Qantas Limited’s shares are declining as it investigates a potential hack of its flagship mobile app, as travellers on Wednesday reported being able to access the frequent flyer details of strangers.
• Oil prices fell in the previous session, extending losses on the back of rising U.S. crude production, as well as hopes of an Israel-Hamas ceasefire.
• The Dow has closed down by 1.49%, the S&P 500 down by 1.57%, and the NASDAQ ended lower by 2.04%.
• Hang Seng is up by 0.09%, and FTSE 100 is down by -0.04%.

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