S&P/ASX 200 lifts but BHP, CBA drop

After a fast start then a lunchtime dive the ASX consolidated to post an 0.15 per cent gain on Tuesday, despite a dip in the closing match.

Markets remain worried that the global economic rebound will cause strong price rises and in turn force the US Federal Reserve and other central banks to raise borrowing costs or “taper” stimulus measures. Picture: AAP

Welcome to the Trading Day blog for Tuesday, June 8. After a fast start then a lunchtime dive the ASX consolidated to post an 0.15 per cent gain on Tuesday, despite a dip in the closing match.

OVernight the Dow closed down 0.4 per cent, the S&P 500 lost less than 0.1 per cent and the Nasdaq rose 0.5 per cent. European markets were mixed and the US dollar dipped after US Treasury Secretary Janet Yellen downplayed fears over the prospect of higher interest rates triggered by a spike in inflation. Locally, NAB’s business confidence survey was released.