Thanks afternoon crew.
End-of-day wrap:
The share market trimmed a losing session after a jump in the unemployment rate raised hopes that interest rates have reached a top.
The ASX 200 pared an opening 88-point tumble to 49 points or 0.68% by the close. The partial recovery from a five-week low followed mid-morning news the jobless rate rose to 3.71% last month from 3.47% in June as the economy shed 14,600 jobs. The odds on a rate hike next month fell to just 5%, according to futures pricing.
Property trusts and energy producers led the turnaround. The gold sub-sector sagged 2.38% to a near five-month low after the yellow metal's longest losing run in six years. Spec stocks and healthcare providers were also notably weak.
The market's initial swoon followed a second straight losing night as the S&P 500 dropped further below its 50-day moving average, a key technical indicator for traders. The US benchmark shed 0.76% after the minutes from last month's Federal Reserve meeting showed most policy-makers think further rate hikes may be needed.
