S&P/ASX 200 Trading Higher By 1.24%; All Sectors Are Trading Higher

On 04 July 2022, at AEST 11:50 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 80.90 points or 1.24%, and is currently trading at 6,620.80 levels. All 11 sectors are trading higher along with the S&P/ASX 200. The A-REIT and Energy sectors are the top 2 gaining sectors, gaining 3.48% and 1.96% in their index values.

Ingenia Communities Group (ASX: INA) and Imugene Limited (ASX: IMU) are the top gaining stocks, gaining 5.822% and 5.128% in their stock prices. On the other hand, PointsBet Holdings Limited (ASX: PBH) and Magellan Financial Group Limited (ASX: MFG) are the top losing stocks and are declining 5.903% and 5.308% in their stock prices.

Factors influencing the market-

• Australian shares headed for a 1.5% gain at the start of trading following Wall Street rallied into the new financial year, and bond yields sunk as the global tightening impulse meets fresh challenges.
• Magellan Financial’s share price is declining after the company’s head of sales and distribution, Frank Casarotti, announced to leave the asset manager in December 2023.
• Oil prices are falling as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya, and sanctions on Russia.
• Dow has closed up by 1.0%, S&P 500 up by 1.1%, and NASDAQ closed higher by 0.9%.
• Hang Seng is down by 1.58%, and FTSE 100 is down by 0.01%.

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