Market Wrap / tech support

The local share market closed slightly lower during Tuesday's trade, as 10% tariffs came into effect at 4pm AEDT. The Aussie dollar fell.The S&P / ASX 200 edged lower by 0.06% to 8,374 points, after earlier rallying on a trade truce between Mexico, Canada and the US which will see tariffs there delayed by 30 days. 

The miners and tech sector provided support to the ASX during a turbulent session. 

The materials sector found reprieve in Canada and Mexico announcements of a 30-day reprieve on the 25% tariffs. BHP climbed 0.7%, and the gold miners benefited from sustained gains in precious metal’s price.

Elsewhere, Telix Pharmaceuticals hit record high as it said it was unaffected by US tariffs despite receiving most of its revenue from US sales.

The tech sector still managed to push ahead and gained 1.7%. However, Seek remained fairly flat as its proposed acquisition of software firm Xref fell through. Xref shares fell 22.6%.

Elsewhere, Brent crude prices fell on re-evaluation of the price dynamic regarding US crude imports from Canada and Mexico. Locally, the energy players were in the red this Tuesday, with Ampol receding 1.8%. 

Investors will remain attentive to this trade saga developments, while data on factory orders and JOLTS jobs openings are expected in the US. Alphabet, Chipotle, PayPal, Pfizer, Snap and Spotify release earnings.Locally tomorrow, we’ll receive earnings from Amcor and Karoon Energy.