Thanks @shovel40, @Fiji1 and morning crew.
Half-time wrap:
The share market sank to a three-week low after annual inflation increased for a second straight month, dashing hopes that slowing consumer price growth would further the case for interest rate cuts.
The ASX 200 dropped 101 points or 1.3% by mid-session. Rate-sensitive consumer stocks, REITs and banks led the selling, along with industrials. Gold miners offered a haven.
The Australian share benchmark ground steadily lower following the 11.30am AEST release of April figures showing headline annual inflation crept up to 3.6% from 3.5% in March. Economists had predicted a fall to 3.4%. Core inflation was flat at 4.1%.
"Good luck with your 2024 RBA rate cut calls," tweeted City Index market analyst David Scutt. "Whether headline or underlying, Australian annual inflation measures are now trending flat to higher and well above the midpoint of the RBA's target," he added.
The market was already under pressure following a mixed session in the US when trade resumed after the Memorial Day long weekend. The S&P 500 finished near flat as the Dow dropped 0.55% and the Nasdaq gained 0.59%.
Personal trading: Suffered the curse of part-filled orders, but got something out of fleeting rebounds in FRS and LM8.
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