Market Wrap / Friday fizzer

Wall Street tailwinds did not last long on this Friday, as profit-taking hit CBA and many of the REITs traded ex-dividend. The S&P/ASX 200 was 0.4% lower today, but slightly higher over the week, standing at 8514.2 points. Higher iron ore prices pushed the local miners forward, with BHP up 3.9% and Fortescue rising 3.5%. Lithium players registered their second day of gains, after Tesla jumped in the US over its latest robotaxi tests. At the same time, Boss Energy leapt 2.4% on a US mine production upgrade.

On the negative side, Reece plummeted 18.7%  as it highlighted housing market softness affecting the business.

Elsewhere, Wesfarmers will sell its BWP holding for $142.6 million, which will see the Bunnings landlord move management in-house. And, Woolworths is set to close its MyDeal customer website to instead focus its retail marketplace offer. 

Looking ahead to next week, retail, housing and trade data will enlighten investors and the RBA ahead of the July decision.