Market Wrap / defensive dominance

The local market continued its upward trajectory during Tuesday's trade, despite uncertainty over the Trump administration tariffs.

The S&P/ASX 200 Index rose 0.2% to close at 7761.70 points. 

A higher iron ore price saw BHP rise 0.4%.Defensive players also rose with market leader CBA adding 0.5% and CSL rising 2.6% as Morgan Stanley flagged its competitive advantage in the healthcare sector. ResMed rose 0.6% with analysts at MS also singling it out as one of its preferred exposures to weather US tariffs.

Clarity Pharmaceutical also gained in the healthcare sector, after reporting positive results regarding its prostate cancer treatment, sending its shares higher by 4.9%. 

Accent Group leapt 4.7% after announcing it will launch UK sports retailer Sports Direct in the ANZ market.Heading the other way, shares in Collins Foods fell 7.7% after announcing it would exit its Australian Taco Bell business. 

And the Star Entertainment saga continued with the embattled-casino finally releasing half-year results. Its net loss stood at $302 million, with significant liquidity issues.  

In the US tonight; Bank of America, Citigroup and Johnson & Johnson release earnings. The Empire Manufacturing Survey is released.