Hello everyone, this is Sage and welcome to The Market Movers by Kalkine TV.
The S&P/ASX200 is lower today, dropping -27.70 points or -0.39% to 7037.90 after scaling a fresh 52-week high. 9 of the 11 sectors are trading in red, while Telecommunications and Consumer discretionary are the only two sectors that are in black. Consumer staples and Industrials are the worst performing sectors with cuts over 0.45%. RBA Minutes reveal an optimistic stance on economic recovery, as per the RBA minutes, Australia is expected to continue its strong economic recovery in 2021 as well. The board of the central bank observed that housing prices had increased significantly in recent months, buoyed primarily by the demand coming from first-time home buyers.