S&P/ASX 200 Trading Lower; Oil Prices Dropped Below $100 Per Barrel

On 13 July 2022, at AEST 12:02 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 3.40 points or 0.05%, and is currently trading at 6,602.90 levels. Out of 11 sectors, 6 sectors are trading higher despite the decline in the S&P/ASX 200.

The Information Technology and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 1.31% and 1.08% in their index values. On the other hand, the Energy and Utilities sectors are the top 2 losing sectors, declining 1.40% and 0.74% in their index values.

Megaport Limited (ASX: MP1) and Mesoblast Limited (ASX: MSB) are the top gaining stocks, gaining 5.853% and 5.128% in their stock prices. On the other hand, Tyro Payments Limited (ASX: TYR) and South32 Limited (ASX: S32) are the top losing stocks and are declining 3.788% and 2.395% in their stock prices.

Factors influencing the market-

• Platinum Asset Management’s shares declined 2.28% after booking another month of outflows.
• Oil prices are falling as U.S. inventory data showed buildups in crude oil and refined products amid rising fears of a global economic slowdown.
• Investors have sold oil positions on worries that aggressive interest rate hikes to stem inflation will spur an economic downturn that will hit oil demand.
• The Dow fell in the previous session, as energy stocks wobbled on falling oil prices and financials ran out of steam ahead of the inflation report due Wednesday.
• Dow has closed down by 0.6%, S&P 500 down by 0.9%, and NASDAQ closed lower by 1.0%.
• Hang Seng is up by 0.17%, and FTSE 100 is up by 0.18%. 

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