STOCKS SLIDE HALTED: Here's what you need to know

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The Australian market ended a six session losing streak, closing flat with energy stocks rallying on a rise in oil prices and retailers weaker on poor consumer sentiment numbers.

  • S&P ASX 200: 5,478.60 +7.29 +0.13%
  • All Ordinaries: 5,486.00 +6.28 +0.11%
  • AUD/USD: 0.7733 +0.0043 +0.57%

On Wall St, the S&P 500 closed up 0.2%. On the local market, five sectors were down and five were up.

Among energy stocks, LNG was up 4% to $3.74, Santos 0.88% to $8.07 and Woodside Petroleum 1.74% to $36.22.

Retail stocks suffered with JB Hi-Fi down 3.5% to $20.71 and Harvey Norman 1.7% to $4.62.

The top stories Wednesday:

1. Australian consumer confidence collapsed in June. The post budget bounce has unwound.

2. Here’s the best reason we’ve heard why Sydney property prices aren’t likely to cool – perhaps ever.

3. The door to another rate cut just opened. Glenn Stevens has just delivered an amazingly frank assessment of where the Australian economy is.

4. Nine Entertainment says CEO David Gyngell followed the rules when he sold shares in the weeks before Friday’s profit warning.

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