Thanks @just browsing, @Fiji1 and morning crew.
Half-time wrap:
Australian shares gained 1% as a strong night for commodity prices helped the battered materials sector rise to its highest in more than three weeks.
The ASX 200 rallied 78 points or 1.01% by mid-session. The materials sector, which traded near eight-month lows earlier this week, put on 2.2%. The energy sector also fared well as Santos jumped 4.3% following reports of overseas takeover interest.
Today's mining rally followed overnight strength in iron ore, oil and base and precious metals after soft US economic data dragged on the greenback. (A weaker US dollar makes dollar-denominated commodities cheaper for buyers using other currencies.) Most commodities opened stronger this morning in China, according to CN Wire.
The S&P 500 and Nasdaq reset their highs overnight as soft employment and services sector reports added to signs that the US economy is losing heat, clearing the way for rate cuts. The odds on a September cut climbed above 70%. The S&P 500 put on 0.51% in thin trade ahead of tonight's US holiday.
Personal trading: Got in near the low in DXB. Took CCR on retrace. Bailed on TRS for brokerage.
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