Thanks afternoon crew.
End-of-day wrap:
The share market ground out a third day of gains as a two-and-a-half year high in energy stocks helped offset declines in tech companies, utilities and gold miners.
The ASX 200 firmed 19 points or 0.26%, closing at a one-week high. The energy sector was easily the day's best, rallying 2.27% after crude oil closed at its highest in the US this year. Consumer stocks, healthcare providers and property companies also advanced.
However, rising energy prices represent a two-edged sword. While investors in Santos and Woodside celebrated today, recent price rises in oil and gas sharpen the risk of a resurgence of inflation. July consumer inflation data tonight may set the near-term tone on Wall Street as investors try to gauge whether the Federal Reserve will raise benchmark rates again next month.
A rebound in US futures helped investors look past overnight weakness on Wall Street. S&P 500 futures lifted 0.38% this afternoon. Overnight, the broadest of the main US indices shed 0.7%.
