Afternoon trading August 14

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

The Australian share market rose for the sixth time in seven sessions after benign US wholesale inflation data bolstered the case for a US rate cut next month.

The ASX 200 rallied 48 points or 0.61% to 7874. The index has now recovered roughly half of the losses recorded during a harrowing two-day tumble at the start of the month. The S&P/ASX 200 Volatility index fell 3.1% to its lowest in almost two weeks.

Tech companies, property trusts and healthcare providers outperformed. Trading updates boosted CBA, AGL, Evolution Mining, Seven Group and Pro Medicus. ASX shed 3.29% after the corporate regulator, ASIC, launched proceedings alleging the market operator failed to keep the market informed about a disastrous project to replace the CHESS trade management system.

US stocks continued to heal overnight after a smaller-than-expected increase in wholesale inflation prompted traders to increase their bets on a bumper rate cut next month. The S&P 500 climbed 1.68%.


Personal trading: Slim pickings. Had some HYT from Monday to sell into today's rebound. Subsistence rations.