Thanks @shovel40, @Fiji1 and morning crew. Half-time wrap:...

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

Australian stocks struggled for a second day as markets priced in the threat of higher rates and weak overnight leads from Wall Street.

The ASX 200 dropped 41 points or 0.54% to a near four-week low. The Australian benchmark skidded 1.3% yesterday after annual inflation ticked higher for a second straight month, dashing hopes for rate cuts this year and elevating the threat that the RBA may lift the cash rate target.

Wall Street added to headwinds with a solid fall overnight as weak demand for treasuries pushed yields to four-week highs. The S&P 500 dropped 0.74%. The Dow declined 1.036% to a four-week low.

Wesfarmers, Aristocrat Leisure and QBE were the only companies among the ASX 20 group of heavyweights to resist the down-trend. Bulk metal miners, BHP, Rio Tinto and Fortescue Metals were the biggest drags following a third straight decline in the price of iron ore.


Personal trading: Caught a rebound in HMX, but also took a couple of turkeys that do not look like paying out.