Retail renaissance 🛍️

Early gains evaporated quickly, mirroring the performance on Wall Street overnight. It was a turnaround Tuesday, just not in a good way. The S&P/ASX 200 fell 0.56% to 6649.6, giving back some of Monday’s gains. It feels like we’re stuck in a perpetual game of snakes and ladders where the only winner are day traders. It was a uniformly soggy performance with every sector aside from energy and utilities finishing lower. Healthcare and technology were belted, tumbling 2.3% and 2.9% respectively. Losses elsewhere ranged from 0.5% to 0.9%. Financials were flat. Energy was the one bright spot, soaring 2.5% on the back of higher crude and coal prices. Lake Resources took out top spot at the individual level, soaring 12.8% as it continued to resemble a yo-yo rather than one of Australia’s largest companies. Whitehaven Coal rose 6% as brokers reacted to its quarterly update on Monday. Pendal climbed 5.2% on takeover speculation from Perpetual. JB HiFi added 2.1% following the release of its preliminary full-year results. Growth names dominated the laggards list with Pointsbet and Xero tumbling more than 5% apiece. BHP slid 0.5%, giving back big early gains following a quarterly production update. 

Our top three VODs:

Have we hit peak inflation? Or when will we...

Phillips: JB Hi-Fi results tell a story of quality

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