S&P/ASX 200 Sharply Lower Today; Fed’s Powell Signaling Rate Hike

As of 22 April 2022, 12:00 AM AEST, the benchmark index S&P/ASX 200 opens lower today and declining 133.10 points or 1.75% and trading at 7459.70 price levels. 10 out of 11 sectors are trading in a red zone along with the S&P/ASX 200. The Materials and Information Technology sectors are top 2 loser sectors and declining 3.30% and 2.85% in their index value. While on the other hand, Healthcare sector is the only gaining sector, which is gaining 0.66% in its index value.

CSL Limited (ASX: CSL) and Corporate Travel Management Limited (ASX: CTD) are the top gaining stocks, which are gaining 1.535% and 1.251% in their stock prices. Megaport Limited. (ASX: MP1) and Paladin Energy Limited (ASX: PDN) are the top losers with a drop of 13.487% and 7.778% in their stock prices.

Factors Influencing the market-

• In a panel discussion held by the International Monetary Fund during its spring meetings, Fed’s chair Jerome Powell signaling that there would be a possibility of 50 basis points rate increase at each of its three meetings.
• AUD/USD lost 1% post Fed Chief Jerome Powell statement on possible 50 basis points rate for May 2022 meeting.
• Dow has closed down by 1.1%, S&P 500 was declined by 1.5% and NASDAQ closed down by 2.1%.
• Hang Seng is declining by 2.07% and FTSE 100 is up 0.02%.      

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Suite 1A, Level 2, 802-808 Pacific Highway, Gordon NSW 2072, Australia | 1800 005 780 | info@kapitales.com.au