S&P/ASX 200 Trading Higher By 0.84% Mirroring Wall Street Gains

On 11 August 2022, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 58.90 points or 0.84%, and is currently trading at 7,051.60 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200.

The Telecommunication Services and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 2.27% and 1.75% in their index values. On the other hand, Utilities and Energy sectors are the top 2 losing sectors, declining 1.52% and 0.21% in their index values.

Life360 Limited (ASX: 360) and Novonix Limited (ASX: NVX) are the top gaining stocks, gaining 9.052% and 8.813% in their stock prices. On the other hand, Rio Tinto Limited (ASX: RIO) and Computershare Limited (ASX: CPU) are the top losing stocks and are declining 2.693% and 2.479% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is gaining 0.84%, mirroring the U.S. market after the annual pace of headline inflation slowed in July from June, seen as easing pressure on how much U.S. interest rates must rise still.
• Oil prices fell slightly today but retained most of their recent gains as softer-than-expected U.S. inflation data drove expectations of a smaller rate hike by the Federal Reserve.
• Dow has closed up 1.6%, S&P 500 up by 2.1%, and NASDAQ closed higher by 2.9%.
• Hang Seng is up 1.17%, and FTSE 100 is up by 0.25%.

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