The S&P/ASX 200 Index (ASX: XJO) is little changed on Tuesday.
After climbing as high as 8,697 points shortly after the open, the benchmark has since slipped back.
The ASX 200 is currently up just 0.04% at around 8,682 points, leaving it pretty much where it started the day.
It’s also a mixed session across the market, with 87 shares higher, 101 lower and 12 unchanged.
There are some big moves among individual shares, but investors also have one eye on this afternoon’s interest rate decision.
That could make things a lot more interesting later today.
So, let’s take a look at what’s happening.
Tech shares steal the show
The S&P/ASX 200 Information Technology Index (ASX: XIJ) is one of the strongest areas of the market today, up 2.41%.
Megaport Ltd (ASX: MP1) shares are 12% higher after announcing three new AI infrastructure contracts worth a combined $978.6 million.
The company also upgraded its FY27 revenue guidance to between $720 million and $810 million.
Codan Ltd (ASX: CDA) shares have also jumped around 18% to $60.84 after upgrading its earnings guidance.
Elsewhere, South32 Ltd (ASX: S32) shares are up 3.18% to $5.04, while QBE Insurance Group Ltd (ASX: QBE) has climbed 1.43% to $23.44.
However, those gains are being offset by weakness elsewhere in the market.
Banks weigh on the market
The major banks aren’t offering much support today, with all four trading lower.
Commonwealth Bank of Australia (ASX: CBA) shares are down 0.67% to $151.45, and National Australia Bank Ltd (ASX: NAB) has slipped 0.61% to $41.70.
Westpac Banking Corp (ASX: WBC) shares are down 0.50% to $38.15, with ANZ Group Holdings Ltd (ASX: ANZ) having fallen 0.62% to $37.04.
Wall Street falls overnight
Our share market also received a weak lead from Wall Street overnight.
The Dow Jones Industrial Average (DJX: .DJI) fell 0.67%, while the S&P 500 (SP: .INX) dropped 0.77%.
The Nasdaq Composite (NASDAQ: .IXIC) fell the most, down 0.92%.
US Treasury yields also moved higher, with the 10-year yield climbing above 5.2%.
All eyes on the RBA
The big event is still to come, with the RBA set to announce its latest interest rate decision at 2:30pm AEST.
The cash rate currently stands at 4.35% after three increases in 2026, with another rise widely expected today.
Investors also received new household spending figures this morning.
Spending was flat in August after climbing 1.1% in July, while annual growth remained at 6.8%.
The RBA decision, and what Governor Michele Bullock says afterwards, could have a much bigger say in where the market finishes today.
The post ASX 200 holds steady as investors brace for a big afternoon appeared first on The Motley Fool Australia.
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More reading
- Why I’d buy NAB shares in October
- This ASX tech company just surged past the $10 billion valuation mark after a major profit upgrade
- Megaport shares on watch after locking in almost $1 billion of new AI deals
- Megaport lifts FY27 outlook after landing $1B in new AI infrastructure deals
- Codan trading update: Record H1 FY27 profit and revenue
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.