The S&P/ASX 200 Index (ASX: XJO) experienced a wild, and ultimately negative day of trading this Thursday, in stark contrast to yesterday’s more optimistic showing.

After some initial volatility at market open this morning, the ASX 200 spent most of the session deep in red territory. A late-afternoon rally couldn’t quite save the markets, and the index ended up closing 0.0045% lower at 8,840.7 points.

This sulky session for the ASX comes despite a more confident day over on the American markets last night.

The Dow Jones Industrial Average Index (DJX: .DJI) did well, rising 0.29%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) did even better, gaining 0.62%.

But let’s return to the local markets now and check out how the different ASX sectors navigated today’s lethargic trading conditions.

Winners and losers

Fitting with the market’s small drop, we saw a fairly even split between winners and losers this Thursday.

Leading the latter were mining shares. The S&P/ASX 200 Materials Index (ASX: XMJ) was hit hard today, cratering 1.58%.

Energy stocks had another rough one as well, with the S&P/ASX 200 Energy Index (ASX: XEJ) plunging 1.53%.

Continuing the commodities theme, gold shares came next. The All Ordinaries Gold Index (ASX: XGD) saw its value dive 0.82%.

Consumer staples stocks were on the nose too, as you can see from the S&P/ASX 200 Consumer Staples Index (ASX: XSJ)’s 0.31% dip.

Utilities shares joined the losing team, too. The S&P/ASX 200 Utilities Index (ASX: XUJ) slid down 0.21% this session.

That’s it for the losers, though, so let’s get to the green sectors. Leading the winners were communications stocks, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) enjoying a 1.1% surge.

Consumer discretionary shares also ran hot. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) added 1.09% to its total this Thursday.

Financial shares proved popular as well. The S&P/ASX 200 Financials Index (ASX: XFJ) roared 0.88% higher.

Real estate investment trusts (REITs) fared half as well, evidenced by the S&P/ASX 200 A-REIT Index (ASX: XPJ)’s 0.44% bounce.

Healthcare stocks were right behind REITs. The S&P/ASX 200 Healthcare Index (ASX: XHJ) lifted 0.39% today.

Tech shares were in that ballpark as well, with the S&P/ASX 200 Information Technology Index (ASX: XIJ) advancing 0.38%.

Finally, industrial stocks had a lucky finish, illustrated by the S&P/ASX 200 Industrials Index (ASX: XNJ)’s 0.08% bump.

Top 10 ASX 200 shares countdown

This Thursday’s index winner was financial stock AMP Ltd (ASX: AMP). AMP shares soared 9.83% higher today to close at $1.90 each.

This big jump followed a well-received earnings update from the company.

Here’s how the other winners landed their planes: 

ASX-listed company	Share price	Price change
AMP Ltd (ASX: AMP)	$1.90	9.83%
Mesoblast Ltd (ASX: MSB)	$2.77	6.95%
REA Group Ltd (ASX: REA)	$158.71	6.61%
Tabcorp Holdings Ltd (ASX: TAH)	$0.91	5.20%
Life360 Inc (ASX: 360)	$26.52	5.03%
Lovisa Holdings Ltd (ASX: LOV)	$23.63	4.93%
IRESS Ltd (ASX: IRE)	$6.61	3.93%
Fletcher Building Ltd (ASX: FBU)	$3.13	3.64%
Washington H. Soul Pattinson and Co Ltd (ASX: SOL)	$45.49	3.32%
PEXA Group Ltd (ASX: PXA)	$7.85	3.15%

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Lovisa, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Life360 and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Well, it has been just over a month since the much-hyped initial public offering (IPO) of Space Exploration Technologies Corp (NASDAQ: SPCX). The IPO of Space Exploration Technologies Corp, better known as SpaceX, was perhaps the blockbuster investing event of the year. It was the largest IPO in history.

When SpaceX floated at US$135 a share last month, it valued the company at a whopping US$1.75 trillion. Despite valuation concerns, the initial float went exceedingly well for anyone who already owned SpaceX stock, or was able to secure some at US$135. After just a few days of trading, the company had rocketed (no pun intended) more than 67% to a high of US$225.64 on 16 June. That valued SpaceX at a near-inconceivable US$2.93 trillion.

Bear in mind that, as we’ve previously discussed, some investors have noted the disparity between SpaceX’s financials and the value that investors were willing to place on the company. To reiterate, the company generated US$18.7 billion in revenue last year and recorded an operating loss of US$4.2 billion.

That might explain why SpaceX stock hasn’t been doing that well since that 16 June high. In fact, SpaceX shares seem to be going in just one direction since that date a month ago. Last night (our time), the company closed at US$135.27 a share. That’s just a whisker above the initial SpaceX IPO price. What’s more, the company dipped below US$135 a share during intraday trading, hitting a low of US$132.15 (US$1.58 trillion). At that price, only investors who held shares prior to the IPO would not have been sitting on an on-paper loss.

So what’s going wrong with the SpaceX IPO then?

You might be wondering what has gone wrong with SpaceX shares since the IPO. After all, it’s not too often that a company whipsaws between US$1.58 trillion and US$2.93 trillion over just a month.

Well, I think this is a classic case of a hype bubble inflating and then deflating as excitement dies down and profits are taken off the table. We often see this happen with IPOs. The case of Guzman y Gomez Ltd (ASX: GYG) is a good local example. IPOs are, by nature, designed to maximise the profits of insider sellers, brokers, and the company itself, not to enrich retail investors. Once the rush is over, the market tends to revert to normalised valuation. And that is often bad news for those who were first to jump onto the train.

SpaceX was, and arguably still is, being priced on what it might deliver in the future, not what kind of profits it is bringing in the doors today (which were reportedly none last year). Potential is a difficult thing to price. So it’s no surprise to see the shares coming off the boil since the SpaceX IPO. I wouldn’t be surprised to see this stock continue to drift lower until we get a look at the company’s books when it reports its first set of public results. Perhaps even beyond that. Let’s see what happens to the SpaceX share price going forward.

The post What’s gone wrong with the SpaceX IPO? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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.

When it comes to retirement, we all want to make sure we have enough superannuation to afford the best lifestyle possible. 

But working out exactly how much money you need is trickier than you’d think. 

After all, the super balance you need depends on your living situation, your expected retirement age, and what type of retirement lifestyle you’re aiming for.

Do you own your own house outright? Are you a single person or living as part of a couple? What type of travel do you expect to do after you finish working? Do you have any debts? What age do you want to retire?

Let’s assume you’re aiming for a comfortable retirement starting at age 67.

Here’s a breakdown of what that could look like, what it could cost you, and how much superannuation you’d need.

What does a comfortable retirement look like?

The Association of Superannuation Funds of Australia (ASFA) splits retirement into two broad categories: comfortable and modest.

ASFA defines a comfortable retirement as one that gives retirees a good standard of living well beyond the age pension. It budgets for expenses beyond a modest retirement, including top-tier private health insurance and regular leisure activities. It allocates funds for home repairs or renovations, and perhaps even an annual holiday.

Meanwhile, a modest retirement is defined as being able to cover expenses just slightly above what the full Centrelink Age Pension would provide from age 67. 

How much is a comfortable retirement expected to cost?

A comfortable ASFA retirement is expected to cost around $55,923 per year for single Australians, and $78,566 for a couple living together.

These figures also assume you’ll receive a part Age Pension, that you own your home in full, and that you already have an emergency fund set aside.

How much superannuation do I need at age 67 to afford that?

In order to fund a comfortable retirement, ASFA calculates that at age 67, single Australians will need around $630,000. Meanwhile, couples will need a superannuation balance of around $730,000.

How do I know if I’m on track to reach that balance by age 67?

I’ve crunched the numbers using ASFA’s super detective tool to work out what superannuation balance you should have at each age milestone to be able to reach that goal.

At age 40, Australians should have a superannuation balance of around $178,000.

By age 45, this should be closer to $239,000.

At age 50, you’ll want to have around $313,500 in your superannuation.

This should then increase to about $399,000 by age 55.

Aussies aged 60 should have close to $496,500.

By age 65, to remain on track, your total superannuation balance should be around $604,500.

Are you on track?

The post How much superannuation do I need to retire comfortably at age 67 appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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.