S&P/ASX 200 Trading Higher Lifted By A-REIT and IT Sectors

On 16 June 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 29.30 points or 0.44%, and is currently trading at 6,630.30 levels. Out of 11 sectors, 6 sectors are trading higher along with the S&P/ASX 200.

The A-REIT and Information Technology sectors are the top 2 gaining sectors, gaining 2.48% and 2.25% in their index values. On the other hand, the Consumer Staples and Utilities sectors are the top 2 losing sectors, declining 0.96% and 0.40% in their index values.

Appen Limited (ASX: APX) and Eagers Automotive Limited (ASX: APE) are the top gaining stocks, gaining 10.392% and 7.256% in their stock prices. On the other hand, Link Administration Holdings Limited (ASX: LNK) and Hub24 Limited (ASX: HUB) are the top losing stocks and are declining 10.161% and 6.399% in their stock prices.

Factors influencing the market-

• The Information Technology sector is gaining 2.25%, mirroring U.S. Technology stocks got boosts in the previous session after the Federal Reserve raised rates by the most in nearly three decades. Still, it ruled out signs of a broader economic slowdown.
• Eagers Automotive's share price is rising following the company announced its intention to carry out on market share buyback.
• Oil prices dropped as investors worried that the Fed's aggressive tightening could dent demand, and also OPEC+ stuck to its forecast that world oil demand will exceed pre-pandemic levels in 2022.
• Dow has closed up by 1.0%, S&P 500 up by 1.5%, and NASDAQ closed higher by 2.5%.
• Hang Seng is down by 0.14%, and FTSE 100 is up by 1.20%.

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