Half-time wrap: Aussie stocks built on yesterday's rebound after an International Energy Agency proposal to release emergency oil reserves cooled a rebound in crude. The ASX 200 reached mid-session 33 points or 0.38% ahead. A second-straight positive session for the major miners and banks helped offset weakness in tech, healthcare, utilities and REITs. The energy sector turned negative after the IEA proposed the largest release of oil reserves in its history to help calm energy markets. West Texas Intermediate had been up more than 4% this morning above US$88 a barrel, but was lately down 0.23% at US$83.26. Stock gains were contained by growing signs the RBA may hike official rates next week. The odds on a rate increase climbed to 70% after RBA Deputy Governor Anrew Hauser warned last night about the danger from "toxic" inflation. "Failing to raise rates to the level they need to be and allowing inflation to get out of control is a clear problem," Hauser said. Several banks amended their rates outlook this morning to factor in a hike next week, including NAB, Westpac, City and Deutsche. US stocks closed mixed but little changed overnight as the retreat in energy prices helped calm market jitters. The S&P 500 closed 0.21% lower in choppy trade amid confused messaging over the Iran war from the White House.
Personal trading: Not a lot of volatility this morning as the market caught its breath. Scraped a little coin from BEZ but otherwise struggled for ideas.
