Market Wrap / record refused

After attempting to reach all time highs in the morning session, investor fatigue moved in during Thursday's late trade. The S&P/ASX 200 finished the session down just 3 points to 8,538.90.

CBA, the index’s largest stock, managed to gain 0.1% to $181.3 despite some profit taking earlier in the trading session. 

Elsewhere the miners edged up, supported by rare earths and lithium players. Overnight, major European carmakers indicated China’s rare earths export controls were disrupting supply. Lynas Rare Earths rose 12.5% while Mineral Resources gained 14.8%. 

IperionX leapt 28.8% after winning a contact with the US Department of Defence worth over $150 million.

Clarity Pharmaceuticals flagged positive results for one of its tumour detection products. This stock was among the day's best performers with a 12% gain.But Tyro Payments fell 10.4% amid uncertainty after its CEO announced his resignation.

And Australia's trade goods surplus narrowed by around $1.48 billion in April, with Australia now back in a trade deficit with the US. 

Tonight, the ECB hands down its rate decision, with a quarter point rate cut expected. Then, it will be America’s turn to reveal its trade balance, ahead o key non-farm payrolls data due Friday.