Afternoon trading October 27

Thanks @shovel40, @Fiji1, @Patterns and morning crew.

Half-time wrap:

The share market rebounded this morning despite headwinds including negative leads from Wall Street and hotter-than-expected wholesale inflation data.

The ASX 200 reached the halfway mark 25 points or 0.36% ahead. A positive close today would be only the second from the last seven sessions as rates fears curb buying interest.

Defensive assets outperformed here this morning after the S&P 500 dropped near correction territory overnight and the Nasdaq traded below its 200-day moving average. Consumer staples was the best of the sectors, rising almost 1.5%. Also strong were gold miners, banks, utilities and property stocks.

The tech sector was a minor drag, falling 0.26% after the Nasdaq slumped 1.76%. The broader S&P 500 shed 1.18% as a strong GDP report kept interest rate hikes on the table.

Producer prices increased more than twice as much as economists expected last quarter, according to ABS data released this morning. The Producer Price Index rose 1.8% in Q1 for an annualised rate of 3.8%. Economists had forecast a more modest quarterly increase of 0.7%.


Personal trading: Looking for something from EL8, ASN, VR1 and FHE.