S&P/ASX 200 Trading Lower; Dragged Down By Materials and Financial Sectors

On 15 July 2022, at AEST 11:55 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 83.90 points or 1.26%, and is currently trading at 6,566.70 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200.

The Consumer Staples and Healthcare sectors are the top 2 gaining sectors, gaining 0.58% and 0.57% in their index values. On the other hand, the Materials and Financial sectors are the top 2 losing sectors, declining 3.30% and 1.73% in their index values.

Wisetech Global Limited (ASX: WTC) and Megaport Limited (ASX: MP1) are the top gaining stocks, gaining 4.382% and 3.731% in their stock prices. On the other hand, Pendal Group Limited (ASX: PDL) and IGO Limited (ASX: IGO) are the top losing stocks and are declining 8.824% and 6.131% in their stock prices.

Factors influencing the market-

• Iron ore majors are sliding again today after heavy falls in the iron ore price overnight, being attributed to concerns over China’s lockdown-hit property market and the broader economy.
• Wisetech Global Limited’s share price jumped after the company upgraded its FY22 guidance.
• Federal Reserve governor Christopher Waller backed raising rates by 75 basis points this month after a hot inflation report, though he said he could go bigger if warranted by the data.
• Dow has closed down by 0.5%, S&P 500 down by 0.3%, and NASDAQ closed higher by 0.03%.
• Hang Seng is down by 0.98%, and FTSE 100 is down by 1.63%.

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