Mid-Market: S&P/ASX 200 Trading Lower By 0.36%; Tracking Wall Street

On 10 May 2023, at AEST 10:40 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 26.10 points or 0.36%, and is currently trading at 7,238.00 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200.

The Energy and Financials sectors are the top 2 gaining sectors, gaining 2.18% and 1.23% in their index values. On the other hand, the A-REIT and Consumer Staples sectors were the top 2 losing sectors, declining 1.19% and 1.14% in their index values.

Imugene Limited (ASX: IMU) and Lynas Rare Earths Limited (ASX: LYC) are the top-gaining stocks, gaining 4.347% and 2.884% in their stock prices. On the other hand, Imugene Limited (ASX: IMU) and Bank Of Queensland Limited (ASX: BOQ) are the top-losing stocks and are declining by 4.431% and 3.830% in their stock prices.

Top 5 Gainers & Losers (As At AEST 10:40 AM)

Factors influencing the market-

• Australian share market is trading lower as investors absorbed the effects of a federal budget that has had to walk the line between addressing the cost-of-living crisis and fuelling inflation.
• Appen Limited's share price is declining sharply after it warned that it expects its revenue to decline materially in FY23 compared to FY22.
• Oil prices were higher on Tuesday, reversing a more than 2% drop earlier in the session, as markets weighed the U.S. government's plans to refill the nation's emergency oil reserve and anticipated higher seasonal demand.
• Dow has closed down by 0.17%, S&P 500 down by 0.46%, and NASDAQ ended lower by 0.63%.
• Hang Seng is down by 2.12%, and FTSE 100 is down by 0.18%.

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