Afternoon trading June 5, page-60

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05/06/24

13:57

Post #: 74176043
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Originally posted by highlandlad: ↑

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

The share market rose after positive Wall Street leads helped investors look past anaemic domestic economic growth figures.

The ASX 200 briefly halved a 25-point mid-morning advance on news that gross domestic product expanded just 0.1% last quarter, half as much as economists expected. Annual growth of 1.1% was the weakest recorded since the pandemic in 2020.

The index quickly regained momentum to reach mid-session 32 points or 0.41% ahead.

Earlier, the Reserve Bank warned it expected the GDP report to show "quite low" growth. Governor Michele Bullock told a Senate committee the economy continued to walk a "narrow path" towards reducing inflation without triggering a recession. The central bank remained committed to increasing or lowering rates, as needed, she said.

A mixed market saw gains in telcos, REITs, banks and consumer stocks outweigh declines in resource stocks following a challenging session for commodity prices. Oil, iron ore and precious and base metal prices all deteriorated overnight.

US stocks overcame early weakness, carving out slender gains as traders looked past soft employment data to the rising prospect of rate cuts later in the year. The S&P 500 gained 0.15%.

Personal trading: Busy morning. Caught a part-fill bounce in BM8. Back into RNX to see if I do better than yesterday. Wanted ENV at 1.7c but only got a tiny part-fill. Also took STP for any partial recovery.

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been up on the wood theres a ute that needs unloading noticed IDT did a bit wasnt on it hope some on here got a bit of it
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Afternoon trading June 5, page-60

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