Afternoon trading June 1

Thanks @shovel40, @FlashPoinit, @Fiji1 and morning crew.

The share market mounted a tentative rebound from its worst fall in three months after a bill to raise the US federal debt limit passed in the House of Representatives.

The ASX 200 flipped a 13-point fall into a gain of 18 points or 0.26% as news came through from the US. The bill to raise the debt ceiling passed in the Republican-controlled House by 314-117 and now moves to the Senate.

US futures traders appeared unmoved by the latest development. S&P 500 futures were flat at the halfway mark of the Australian session.

Here, gold miners, tech stocks and supermarkets were among the morning's prime movers. Mining and spec stocks dragged. The Emerging Companies Index slid to its weakest level since October.

Personal trading: The first down-wave in ZLD bounced just before the 50% fib retrace, leaving me to lament not being more aggressive with a buy order. There were almost 70 pips in that bounce. Grrr. Got a pip from the first retrace in RFX.