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

On 03 May 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 31.60 points or 0.42%, and is currently trading at 7,618.60 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Healthcare sectors are the top 2 gaining sectors, gaining 0.30% and 0.28% in their index values. On the other hand, Consumer Discretionary and Energy sectors are the top 2 declining sectors, declining 0.48% and 0.14% in their index values.

Block Inc. (ASX: SQ2) and Arcadium Lithium Limited (ASX: LTM) are the top-gaining stocks, gaining 9.413% and 3.935% in their stock prices. On the other hand, Evolution Mining Limited (ASX: EVN) and Bapcor Limited (ASX: BAP) are the top-losing stocks and are declining by 4.051% and 2.273% in their stock prices.

Factors influencing the market-

• Australian shares are trading higher on track for its fourth advance in five sessions after being rattled by the prospect of higher for longer interest rates.
• The technology sector is higher after iPhone retailer Apple revealed a record-shattering US$110 billion ($167 billion) buyback that sent US equity futures higher.
• The Australian dollar crawled upward to US65.65¢ after the US Federal Reserve ruled out lifting interest rates and suggested that rate cuts were still on the table, albeit not for some time.
• Oil prices settled in the previous session near their lowest level in seven-weeks, narrowly mixed and under pressure from weaker global demand, rising inventories and fading hopes for a quick cut in US interest rates.
• The Dow has closed up by 0.85%, the S&P 500 up by 0.91%, and the NASDAQ ended higher by 1.51%.
• Hang Seng is up by 2.50%, and FTSE 100 is up by 0.63%.

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