Half-time wrap: The share market trimmed a morning advance as investors weighed a likely rate rise this afternoon against a retreat in energy prices and a rebound on Wall Street. A 49-point opening charge on the ASX 200 dwindled to eight points or 0.09% by mid-session. Most of the major banks and miners threw their weight behind the move, with support from real estate trusts and utilities. Energy stocks dragged in the wake of an overnight reversal in crude as the Trump administration said it was willing to let Iranian oil tankers transit the Strait of Hormuz. The implied odds on a quarter-point interest rate hike this afternoon were around 70%, according to recent market pricing. The Reserve Bank was due to announce the updated cash rate at 2.30 pm AEDT. US stocks rebounded overnight from three weeks of losses as energy prices subsided. The S&P 500 gained 1.01%.
Personal trading: Slow morning while the market mulled how seriously to take last night's US bounce. LYC tends to swing a bit intraday, so took that on retreat. Buying yesterday's panic in GRL paid off. Got out just before another dump this morning - a happy fluke.
