Australian stocks are lower

Joe Scarnici/Getty Images

After a night of relative calm in US markets, where the S&P 500 fell just 1 point, the ASX 200 is opening lower this morning. It’s down 7 points to 5220 in early trade.

All sectors of the market are currently in the red with the energy sector under intense pressure after the price of crude oil collapsed again overnight to a week low.

ASX 200 Sector Performance (Reuters Eikon)

Among the leaders in the energy sector, Woodside is down 1.70%, Santos is 1.99% lower and Caltex is off 1.26%.

The big banks are mixed with the ANZ down 0.4% but the rest of the majors are higher. Of particular note, the Commonwealth Bank’s recovery from Tuesday’s close at $69.50 continues and it’s up another 0.87% at $70.77. The rally is on heavy volume early with the CBA currently the highest turnover stock on the ASX.

A short time ago the ASX 200 was trading at 5220.

ASX 200 (Investing.com)

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