The share market's winning run stretched into a third session, but faltered within reach of last week's decade high.
The ASX 200 advanced 23 points or 0.4% to 6328 by the halfway mark and needed to close above 6345 this afternoon to mark a new post-GFC peak. Advances in financials +0.9%, materials +0.7% and consumer staples +0.3% were tempered by falls in telecoms -1.7%, gold -0.5% and health -0.4%.
Regional markets struggled to extend this week's rally following a night of slender gains on Wall Street, where the S&P 500 edged up 0.03% and the Dow 0.06%. China's Shanghai Composite retreated 0.16%. Hong Kong's Hang Seng tacked on 0.21% and Japan's Nikkei 0.68%. S&P 500 futures were recently ahead five points or 0.17%.
“End-of-month flows could start to take hold into the end of the week," analysts at JPMorgan told Reuters. "Combined with light news flow and the risk of impending trade war escalation [that] could result in conviction remaining light.”
Crude oil futures improved six cents or 0.09% this morning to US$68.59 a barrel. Gold futures ebbed $4.70 or 0.39% to US$1,209.70 an ounce. The dollar was buying 73.44 US cents.
Good to see the market recoup last week's 'leadership-spill losses'. Not sure voters will get over it as quickly. Trading: struggled to find clear signals this morning. Eventually had a dab at SHO, but wouldn't call it a high-conviction trade.
