S&P/ASX 200 Trading Lower; After Inflation Data

On 27 July 2022, at AEST 12:15 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 6.40 points or 0.09%, and is currently trading at 6,800.90 levels. Out of 11 sectors, 6 sectors are trading higher despite the decline in the S&P/ASX 200.

The Healthcare and Industrials sectors are the top 2 gaining sectors, gaining 1.25% and 0.58% in their index values. On the other hand, the Materials and Information Technology sectors are the top 2 losing sectors, declining 1.07% and 0.62% in their index values.

Zip Co Limited (ASX: ZIP) and Silver Lake Resources Limited (ASX: SLR) are the top gaining stocks, gaining 8.780% and 4.135% in their stock prices. On the other hand, Champion Iron Limited (ASX: CIA) and Bluescope Steel Limited (ASX: BSL) are the top losing stocks and are declining 5.129% and 4.190% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is trading lower after falling from the positive territory after inflation data showed rising cost pressures across the economy.
• Inflation data released today showed prices had risen 6.1% in the past year, below forecasts, although core inflation jumped 4.9%, above estimates and the highest level in three decades.
• Silver Lake Resources Limited’s share price gained following the company has set fresh sales guidance of 260,000 ounces of gold production for the 2023 financial year after withdrawing its previous quarterly guidance in April amid higher costs and labor issue uncertainty.
• Oil prices gained in early Asian trade as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles.
• Dow has closed down 0.4%, S&P 500 down by 1.1%, and NASDAQ closed lower by 1.7%.
• Hang Seng is down by 1.15%, and FTSE 100 is down by 0.01%.

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