Day traders' after-market lounge November 14

Thanks afternoon crew.

End-of-day summary:

Resource stocks powered the Australian market to its first gain in three sessions as rising commodity prices helped offset signs of strain in the economy.

The ASX 200 bounced 58 points or 0.83% to 7007. Oil's one-week high lifted the energy sector 2.5%. The materials sector gained nearly 1.5% as BHP and Rio Tinto tested recent peaks and Fortescue closed at a level last seen in August 2021.

The market took in its stride soft consumer and business confidence data released this morning. Westpac's consumer confidence gauge suffered its biggest tumble in six months after the RBA raised the cash rate target. Forty per cent of Australian consumers polled said they planned to spend less on Christmas this year. Business confidence flipped from tentative optimism to mild pessimism.

US stocks finished mixed overnight ahead of consumer inflation data tonight that could push the needle on interest rates. The S&P 500 and Nasdaq finished lower, while the Dow inched up 0.16%.