Afternoon trading February 16

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

Aussie shares pushed back towards record territory after weak US retail sales data soothed concerns that inflationary pressures might delay interest rate cuts.

The ASX 200 rallied 42 points or 0.55% by mid-session. The advance wiped out three days of losses through the first half of the week and lifted the index briefly to within 20 points of its record close earlier this month.

An uneven earnings season continued with more brickbats than bouquets handed out by investors this morning. While Charter Hall Retail went up 2.54% after reporting, Inghams lost 13.19%, ASX Ltd 3.91%, IAG 3.48%, QBE 2.62%, Cleanaway Waste 1.69% and HomeCo Daily Needs REIT 1.17%.

The S&P 500 closed at a fresh high in the US overnight after glum January retail sales figures rekindled hopes that the Federal Reserve will soon start lowering benchmark rates.


Personal trading: NEU was a trade I badly needed at the end of a mixed week. Got in very near the low. Didn't get all of the bounce, but enough. Cashed out before the trading halt. Wish trading was always that straight-forward.