Our market gave back about half of the previous sessions gai...

CyberMongrel wrote a post · Jun 26 21:46

Our market gave back about half of the previous sessions gains as inflation came in higher than expected.

Consumer discretionary stocks closed mostly lower on fears higher interest rates in the future could translate to weaker retail sales.

Harvey Norman $Harvey Norman Holdings Ltd(HVN.AU)$ fell 8.3%, JB Hi Fi $JB Hi Fi Ltd(JBH.AU)$ dropped 2.63% while SuperCheap ( $Super Retail Group Ltd(SUL.AU)$ ) finished up 3.13% thanks to UBS upgrading the stock to a BUY. $S&P/ASX 200(.XJO.AU)$

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