Thanks afternoon crew.
End-of-day wrap:
Aussie shares retreated from a five-month high after US stocks declined and two of the big four banks predicted a rate rise next week.
The ASX 200 trimmed a third week of gains with a fall today of 52 points or 0.7%. The decline cut the tally for the week to 90 points or 1.2%.
Miners and REITs spearheaded today's retreat as all 11 sectors lost ground. Macquarie Group, Woodside and Coles were the only blue-chips to advance.
Overnight, the Dow's longest winning run since 1987 ended. The industrial average dropped 0.67% to its first loss in 14 sessions.
The odds on an August rate hike at next week's meeting have fallen to 20% in recent trade after weaker-than-expected retail sales data today. Retail turnover declined by 0.8% last month.
Nonetheless, Commonwealth Bank and Westpac both predicted the Reserve Bank will increase the cash rate target by 25 basis points to 4.35%. CBA said the decision was "finely balanced".
Another successful week's trading, hopefully for most. The weekend lounge is now open for cocktails and shenanigans. This week's Lounge Special is a Balinese treat for those dreaming of warmer climes: the Thousand Nights special from the Four Seasons Jimbaran Bay. Recipe here.
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Thanks afternoon crew. End-of-day wrap: Aussie shares retreated...
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