Market Wrap / tariff tactics... again

Trump's tariff tactics once again rattled investor sentiment, sending the local market lower during Monday's trade. The S&P / ASX 200 fell 0.34% to 8,482.80 points after the US President announced 25% levies on all steel and aluminium imports.The materials sector fell 0.72% as market heavyweight BHP lost 0.95%. Pilbara Minerals was also in the red as it flagged it expects to swing to an underlying loss for the first half of the year, notably amid lower lithium prices. However, BlueScope Steel bucked the trend, as investors considered its strong US footing as a shield against new tariffs on steel. Ansell, a medical gear manufacturer, jumped 8.37% after announcing plans to raise prices to counter US tariffs.In the retail space, JB Hi-FI shares briefly hit a record after its 1H results before closing the session lower by 4.28% to $97.69 as CEO Terry Smart said the group remains cautious due to "uncertainty in the retail market" and heightened competitor activity. And CAR Group lost 7.06% as its 1H earnings fell short of consensus and it failed to provide guidance. 

Star Entertainment Group surged as it rejected takeover offers for its 50% stake and debt in Brisbane's Queen’s Wharf complex. Mayne Pharma Group surged 23.14% after forecasting a 275% jump in earnings, driven by strong growth in its women’s health range.Elsewhere, WiseTech shares fell 4.17%. The company has confirmed it has received two further complaints of allegations against founder and Founding CEO Richard White. 

Tonight, US consumer inflation expectations will be released. Tuesday locally will bring more earnings reports from ASX-listed companies, notably CSL, Macquarie and Computershare.