S&P/ASX 200 Trading Lower By 0.12%; Dragged Down By Healthcare and IT Sectors

On 17 August 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 8.20 points or 0.12%, and is currently trading at 7,097.20 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200.

The Consumer Discretionary and Consumer Staples sectors are the top 2 gaining sectors, gaining 1.21% and 1.03% in their index values. On the other hand, Healthcare and Information Technology sectors are the top 2 losing sectors, declining 2.78% and 1.04% in their index values.

Super Retail Group Limited (ASX: SUL) and Brambles Limited (ASX: BXB) are the top gaining stocks, gaining 7.827% and 4.830% in their stock prices. On the other hand, Magellan Financial Group Limited (ASX: MFG) and PointsBet Holdings Limited (ASX: PBH) are the top losing stocks and are declining 7.667% and 7.436% in their stock prices.

Factors influencing the market-

• Super Retail Group Limited’s share price jumped more than 7% after the company posted record sales over fiscal 2022 as foot traffic returned to stores in the second half, but its bottom line still sank 20%.
• Australia’s seasonally adjusted wages price index rose 0.7% over the June quarter and 2.4% over the year, just below forecasts of a 0.8% quarterly rise and an annual 2.7% rise.
• Oil prices rose today, recovering from six-month lows hit the previous day, as a larger-than-expected drop in U.S. oil and gasoline stocks reminded investors that demand remains to increase if overshadowed by the prospect of a global recession.
• Dow has closed up 0.7%, S&P 500 up by 0.2%, and NASDAQ closed lower by 0.2%.
• Hang Seng is up 0.48%, and FTSE 100 is up by 0.36%.

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