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

On 09 September 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 65.70 points or 0.82%, and is currently trading at 7,947.90 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The Information Technology and Energy sectors are the top 2 declining sectors, declining 1.36% and 1.34% in their index values.

Liontown Resources Limited (ASX: LTR) and Pilbara Minerals Limited (ASX: PLS) are the top-gaining stocks, gaining 2.521% and 2.489% in their stock prices. On the other hand, Super Retail Group Limited (ASX: SUL) and Red 5 Limited (ASX: RED) are the top-losing stocks and are declining by 7.845% and 6.667% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is declining after worse-than-expected hiring figures in the US fanned concerns that the Federal Reserve may have not acted fast enough to avert a downturn in the world’s largest economy.
• Gomez y Guzman is trading higher after the announcement that the stock will be included in the benchmark S&P/ASX 200 index from September 23, following the index’s quarterly rebalance.
• Oil prices settled 2% lower on Friday, with a big weekly loss after data U.S. jobs data was weaker than expected in August, which outweighed price support from a delay to supply increases by OPEC+ producers.
• The Dow has closed down by 1.01%, the S&P 500 closed down by 1.73%, and the NASDAQ ended lower by 2.55%.
• Hang Seng is down by 0.07%, and FTSE 100 is down by 0.73%.

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