Trading Day: S&P/ASX 200 falling, Tabcorp offer revised, BlueScope lifts guidance

Stocks lower. IT and retail weigh on ASX 200. New Wall Street records, but mixed close. Iron ore up. Entain revises Tabcorp offer. BlueScope raises earnings guidance. BoJ policy unchanged.

The rush into the sharemarket among investors is accelerating as low cash rates and rebounding share prices combine to promise strong returns. Picture: Christian Gilles

Welcome to the Trading Day blog for Tuesday, April 27. The ASX 200 is falling, despite Wall Street having set new records but closing mixed, ahead of a busy week featuring Fed and OPEC meetings and major US corporate earnings. Bank of Japan has left policy unchanged.

The Nasdaq Composite climbed 0.9 per cent, the S&P 500 ticked up 0.2 per cent - both hitting new records - and the Dow slipped 0.2 per cent.

Oil prices sank on stubborn fears over demand given the spike in Covid cases in India, before OPEC and its allies meet later in the week.

Iron ore jumped nearly 4pc to $US193.6/tonne and the copper price was up 2.5pc at$US4.44/lb driven by soaring demand and tight supply for both commodities.