Mid-Market: S&P/ASX 200 Trading Lower By 0.86%; Mirroring US Markets

On 07 September 2023, at AEST 11:20 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 62.70 points or 0.86%, and is currently trading at 7,194.40 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Materials and Information Technology sectors are the top 2 losing sectors, declining 2.19% and 0.89% in their index values.

Liontown Resources Limited (ASX: LTR) and Chalice Mining Limited (ASX: CHN) are the top-gaining stocks, gaining 4.332% and 3.620% in their stock prices. On the other hand, Super Retail Group Limited (ASX: SUL) and BHP Group Limited (ASX: BHP) are the top-losing stocks and are declining by 6.407% and 4.144% in their stock prices.

Factors influencing the market-

• The share market opened lower, tracking Wall Street’s sombre mood after stronger-than-expected U.S. services sector data revived fears that the Federal Reserve may have to lift interest rates again to suppress still sticky inflation.
• Bubs Australia rallied today on news that it had started a nationwide enrolment for its growth monitoring study clinical trial in the United States.
• Perenti Limited’s share price fell despite news that its African unit won a US$235 million (AU$368 million) contract at the Sandfire Resources’ copper mine in Botswana.
• Oil prices rose slightly, sticking to 10-month peaks as signs of another draw in U.S. inventories added to expectations that global crude supplies will tighten further this year.
• The Dow has closed down by 0.57%, the S&P 500 down by 0.70%, and the NASDAQ ended lower by 1.06%.
• Hang Seng is down by 0.04%, and FTSE 100 is down by 0.16%.

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