Up, up, but not away 🛫

Another day another gain, helped by a solid performance from the retailers. The S&P/ASX 200 added 0.31%, closing at a fresh two-month high of 7127.7. Following the strong lead provided by US retailers Walmart and Home Depot after their earnings easily beat lowered analyst forecasts, consumer discretionary and consumer staples were the standout performers for the session, climbing 1.4% and 1.7% respectively. Positive profit results from local retailers Super Retail and Bapcor was another factor – the former climbing 5.3% while the latter added a smaller 1.2%. Outside of the consumer space, real estate climbed 1.4%, industrials 1% while materials chimed in with a gain of 0.5%. Financials were flat while healthcare skidded 0.8%, weighed down by 1.5% fall in CSL after it released its full-year accounts. Results from Downer, Magellan, Domain Group and Santos also disappointed, finishing trade down between 1.8% to 5.9%.

Our top three VODs:

Scott Phillips: Most of retail has been left for dead

Are US markets delusional? 

Positivity for equities in second half of 2022

Hosted on Acast. See acast.com/privacy for more information.