Company Interview / the COB: too hot to cut?

The S&P/ASX 200 erased this morning’s meager gains to lose 0.96% this Wednesday, with inflation figures coming in higher than expected, dashing hopes of an RBA rate cut next week.As a result, the banks flashed red, with CBA shedding 2.1% today. Meanwhile the real-estate space was also declining and Stockland lost 3.9% off its share price. The consumer staples sector proved more resilient, with Woolworths advancing by 2.4% as it said total group sales for the quarter rose 2.7 percent. Below expectations, but the stock still benefited from a flight to defensive positions.Amongst resources, gold miners tracked higher as well. And Boss Energy leapt 19.8% following its strong September quarter.

Lynas unveiled plans to build a new rare earths facility in Malaysia. The stock was higher in early trade, but ended the session 3.4% lower. In healthcare, CSL extended its decline, down 4% today.Tonight, all eyes will be on the Fed, which is expected to cut rates by 25 basis points.