- The S&P/ASX200 opens lower today, falling by 48.60 points or 0.66% to 7,335.60.
- The index has gained 0.85% over the last five days and is currently 3.89% off its 52-week high.
- Brent crude oil price increased by 1.7% to SU$79.41 a barrel.
The Australian share market was expected to open at 43 points or 0.6% lower today. The index fell by 48.60 points or 0.66% to 7,335.60 at 10:59 AM AEST. However, it has gained 0.85% over the last five days and is currently trading 3.89% off its 52-week high.
Representative Image Source: © Jirsak | Megapixl.com , image description – Share price chart
Beach Energy, Incitec Pivot Limited, Santos Limited and Oil Search Limited were some of the market movers today. Here are Five things to watch for today.
Oil price Hike
Supported by supply constraints, the oil prices increased overnight. The energy producers like Beach Energy Limited (ASX:BPT) and Woodside Petroleum Limited (ASX:WPL) gained by 6.48% and 3.67%. The WTI crude oil price is rose by 2% to US$75.44 a barrel and the Brent crude oil price increased by 1.7% to SU$79.41 a barrel.
Representative Image Source: © Jirsak | Megapixl.com
Sydney plans to reopen
With around 60% of people aged 16 and over fully inoculated, the Australian Government expects to reach its 80% target towards October-end. NSW Government has also planned to unveil its roadmap for reopening the state.
Tech shares slipped
The Dow Jones index closed 0.2% higher at 34,869 points, that resulted in drop of ASX technology shares in the early morning trade of Tuesday. Tech shares tend to underperform when the yields rise, and the US Treasury yields continued to rise overnight – climbing 1.5% for the first time since June 2021.