Afternoon trading July 7

Thanks @shovel40, @Fiji1, @uncleBuck, @JohnI and morning crew.

Half-time wrap:

Aussie shares pulled back from Friday's record close as traders exercised caution at the start of a week that brings an RBA interest rate decision and a deadline for US trade deals.

The ASX 200 eased 18 points or 0.21% by mid-session. Gains in utilities, healthcare providers and supermarkets partly offset declines in most of the major miners and banks.

Buying interest was kept in check by a slide in US stock futures over the Independence Day long weekend ahead of a Wednesday deadline for trade agreements. S&P 500 futures pared their decline to 0.43% after Treasury Secretary Scott Bessent indicated tariff hikes would not kick in until August 1, implying some wiggle room to negotiate after President Trump's 90-day tariff pause expires.

Trump this morning announced trade letters containing tariff levels would be despatched to US trading partners this evening. He also said countries that aligned with the BRICS group's "anti-American policies" faced an additional 10% tariff.

The RBA commenced a two-day meeting this morning that is expected to conclude with another rate cut tomorrow afternoon.


Personal trading: Keeping it simple while easing back in. Easy pip from GCM. Took ARU on the retest of the breakout. Part-fill in JNS.