Mid-Market: S&P/ASX 200 Trading Lower; Dragged Down By Mining Stocks

On 26 June 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 58.80 points or 0.75%, and is currently trading at 7,780.20 levels. Out of 11 sectors, 8 sectors are trading lower along with the decline in the S&P/ASX 200.

The Healthcare and Information and Industrials sectors are the top 2 gaining sectors, gaining 0.21% and 0.07% in their index values. On the other hand, Materials and A-REIT sectors are the top 2 declining sectors, declining 0.96% and 0.54% in their index values.

Super Retail Group Limited (ASX: SUL) and Neuren Pharmaceuticals Limited (ASX: NEU) are the top-gaining stocks, gaining 2.911% and 1.780% in their stock prices. On the other hand, Arcadium Lithium Ltd (ASX: LTM) and Healius Limited (ASX: HLS) are the top-losing stocks and are declining by 5.190% and 5.000% in their stock prices.

Factors influencing the market-

• Australian shares are declining at the open of trading, tracking losses in Europe and on the Dow Jones in New York and ahead of the latest batch of inflation data later this morning.
• In the US overnight, Nvidia snapped a three-day rout and lifted both the S&P 500, up 0.4%, and the Nasdaq Composite, up 1.3%. The Dow was 0.8% lower, paced by Home Depot, Dow and Nike.
• Crude oil prices fell 1% in the previous session as weak U.S. consumer confidence data fed worries about the economic outlook and fuel demand after a slow start to the U.S. summer driving season.
• The Dow has closed down by 0.76%, the S&P 500 closed up by 0.39%, and the NASDAQ ended higher by 1.28%.
• Hang Seng is up by 0.25%, and FTSE 100 is down by 0.41%.

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