Mid-Market: S&P/ASX 200 Trading Sharply Higher; Mirroring US Markets Gains

On 17 July 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 66.00 points or 0.83%, and is currently trading at 8,065.30 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 1.58% and 0.92% in their index values.

Polynovo Limited (ASX: PNV) and Arcadium Lithium Ltd. (ASX: LTM) are the top-gaining stocks, gaining 6.751% and 6.346% in their stock prices. On the other hand, Deep Yellow Limited (ASX: DYL) and Boss Energy Ltd (ASX: BOE) are the top-losing stocks and are declining by 2.632% and 2.245% in their stock prices.

Factors influencing the market-

• The Australian share market is trading higher and reset a new intraday record high after a sharp rally in interest rate sensitive technology and real estate stocks.
• Star Entertainment Group Limited’s shares advanced following it switched on all its electronic gaming machines and tables again after shutting them due to system performance issues.
• Cettire Limited rallied after it confirmed gross revenue will be between $975 million and $980 million for the 12 months ending 30 June 2024.
• Oil prices gained in the previous session, with global benchmark Brent hovering near the one-month low it hit in the prior session, as signs of weakening demand growth in China clashed with the prospect of declining U.S. oil stockpiles.
• The Dow has closed up by 1.85%, the S&P 500 closed up by 0.64%, and the NASDAQ ended higher by 0.21%.
• Hang Seng is up by 0.01%, and FTSE 100 is down by 0.22%.

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