Mid-Market: S&P/ASX 200 Trading Sharply Higher; All 11 Sectors Are Trading In Green Zone

On 16 August 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 104.70 points or 1.33%, and is currently trading at 7,970.20 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Materials and Energy sectors are the top 2 gaining sectors, gaining 1.91% and 1.89% in their index values.

Domain Holdings Australia Limited (ASX: DHG) and Arcadium Lithium Limited (ASX: LTM) are the top-gaining stocks, gaining 5.744% and 5.711% in their stock prices. On the other hand, Amcor Plc (ASX: AMC) and ASX Limited (ASX: ASX) are the top-losing stocks and are declining by 2.169% and 1.750% in their stock prices.

Factors influencing the market-

• Australian shares opened higher today and posting their sixth straight session of gains in a broad rally as investors lift bets on central banks cutting interest rates later this year.
• ASX Limited’s shares are declining after it reported an underlying profit slightly down on last year, with revenues hitting a record high.
• Oil prices gained more than $1 a barrel in the previous session after U.S. economic data allayed fears of recession in the world's biggest economy, although the rally was limited by concerns of slower global demand.
• The Dow has closed up by 1.39%, the S&P 500 closed up by 1.61%, and the NASDAQ ended higher by 2.32%.
• Hang Seng is down by 0.02%, and FTSE 100 is up by 0.80%.

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