S&P/ASX 200 up marginally 0.13%; Investors awaiting RBA decision

On 03 May 2022, at AEST 1:12 PM, the benchmark index S&P/ASX 200 is trading up today. It is up by 5.7 points or 0.061%, and is currently trading at 7351.5 levels. 6 out of 11 sectors are trading in the green zone despite the decline in S&P/ASX 200. The Information Technology and Health Care sectors are the top 2 gaining sectors and gaining 1.57% and 1.21% in their index value. On the other hand, the Materials and Utilities sectors are the top 2 loser sectors and declining 1.11% and 1.05% in their index value.

Magellan Financial Group Limited (ASX: MFG) and ZIP Co Limited (ASX: ZIP) are the top gaining stocks, gaining 7.550% and 5.909% in their stock prices. Silver Lake Resources Limited (ASX: SLR) and Cleanaway Waste Management Limited (ASX: CWY) are the top losing stocks and are declining 5.085% and 4.762% in their stock prices.

Factors Influencing Market-

• RBA is about to provide update on monetary policy. Investors are also waiting for Federal Reserve’s policy meeting for more updates related to pace of monetary tightening.  
• Cleanaway Water declines after the company says higher fuel costs will affect the bottom line to be lower by $10 million and drag the EBITDA between $15 million and $20 million, which is lower than previously expected for the period.
• Dow has closed up by 0.3%, S&P 500 up by 0.6%, and NASDAQ closed up by 1.6%.
• Hang Seng is down by 0.36%, and FTSE 100 is up 0.47%.

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