S&P/ASX 200 Bounced Back; Mirroring Wall Street Gains

On 27 May 2022, at AEST 11:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 62.60 points or 0.88%, and is currently trading at 7,168.50 levels. Out of 11 sectors, 10 are trading higher along with the S&P/ASX 200. The Energy and Materials sectors are the top 2 gaining sectors, gaining 1.86% and 1.70% in their index values.

PointsBet Holdings Limited (ASX: PBH) and Liontown Resources Limited (ASX: LTR) are the top gaining stocks, gaining 8.200% and 5.078% in their stock prices. On the other hand, Appen Limited (ASX: APX) and Incitec Pivot Limited (ASX: IPL) are the top losing stocks and are declining 22.370% and 3.699% in their stock prices.

Factors influencing the market-

• The energy sector is rising 1.86% as the big players such as Paladin Energy and Woodside energy gaining 4.89% and 3.05% in their stock prices, respectively.
• Appen Limited share price is falling by more than 22%, following Canadian IT Services Company Telus International pulled its $1.2 billion offer.
• Brent Crude rises to $114.50 per barrel as US crude and gasoline stockpiles showed signs of declining ahead of the summer driving season. The European Commission this month proposed new sanctions against Russia for invading Ukraine.
• Dow has closed up by 1.6%, S&P 500 up by 2.0%, and NASDAQ closed higher by 2.7%.
• Hang Seng is up by 2.87%, and FTSE 100 is up by 0.56%.

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