Market Wrap / Tuesday turnaround

It was a choppy day's trade ahead of the all-important June CPI data due Wednesday.

After dropping sharply at the open, the S&P/ASX 200 Index recovered to finish up by just 0.1% to 8704.60.

Financial sector pared losses, falling 0.2% with CBA extended Monday's decline, down 0.3% after flagging it was making a number of roles redundant following the roleout of a new chatbot system. 

Woodside jumped 1.6% after strengthening its Australian operations by assuming operatorship of the Bass Strait gas assets following an agreement with ExxonMobil Australia.

Viva Energy dropped 6.4% after posting a 10% drop in first half convenience sales, driven by a near 30% fall in tobacco sales.

And Boss Energy fell a further 5.5% following a round of broker downgrades. 

Wednesday sees the crucial quarterly inflation data release, key numbers guiding the RBA’s monetary policy outlook.