Mid-Market: S&P/ASX 200 Trading Lower; JBH Declined By More Than 4%

On 09 May 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 39.50 points or 0.51%, and is currently trading at 7,765.20 levels. Out of 11 sectors, 5 sectors are trading lower along with the decline in the S&P/ASX 200.

The Utilities and Energy sectors are the top 2 gaining sectors, gaining 0.40% and 0.37% in their index values. On the other hand, Healthcare and Financials sectors are the top 2 declining sectors, declining 1.07% and 0.64% in their index values.

Strike Energy Limited (ASX: STX) and AUB Group Limited (ASX: AUB) are the top-gaining stocks, gaining 6.818% and 4.050% in their stock prices. On the other hand, Super Retail Group Limited (ASX: SUL) and JB Hi Fi Limited (ASX: JBH) are the top-losing stocks and are declining by 4.793% and 4.686% in their stock prices.

Factors influencing the market-

• Australian shares are declining as Commonwealth Bank’s March quarter profit prompted investors to sell the lender and its banking peers.
• JB Hi Fi Limited’s shares dropped sharply after the company posted flat sales  for the March quarter.
• As per the Macquarie, Brent oil prices are likely to fall below $80 a barrel rather than break through $90 a barrel as bearish storm clouds are likely grow in the months ahead.
• The Dow has closed up by 0.44%, the S&P 500 closed flat, and the NASDAQ ended lower by 0.18%.
• Hang Seng is down by 0.90%, and FTSE 100 is up by 0.49%.

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