S&P/ASX 200 Trading Higher; Mirroring Wall Street Gains

On 18 May 2022, at AEST 11:54 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 51.40 points or 0.72%, and is currently trading at 7163.90 levels. 9 out of 11 sectors are trading higher along with the S&P/ASX 200.

The Materials and Industrials sectors are the top 2 gaining sectors and gaining 2.39% and 1.13% in their index values. On the other hand, the Consumer Staples and Financials sectors are the top 2 losing sectors, declining 0.43% and 0.16% in their index values.

Megaport Limited (ASX: MP1) and South32 Limited (ASX: S32) are the top gaining stocks, gaining 5.903% and 4.250 % in their stock prices. On the other hand, Eagers Automotive Limited (ASX: APE) and Boral Limited (ASX: BLD) are the top losing stocks and are declining 6.224% and 3.427% in their stock prices.

Factors influencing the market-

• Australian shares are rising, mirroring the overseas gain as retail sales and industrial production data from the US relaxed some concerns about the economic outlook.
• Eagers Automotive’s share price is falling after the company warned that a reduction in the number of new vehicles delivered to customers in the first half of 2022 is assumed to impact its half-year financial performance.
• Dow has closed up by 1.3%, S&P 500 up by 2.0%, and NASDAQ closed higher by 2.8%.
• Hang Seng is down by 0.84%, and FTSE 100 is up by 0.72%.

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