Wall Street wavered overnight as investors digested Monday’s strong rally. US consumer confidence fell to a four-year low, weighing on sentiment. Meanwhile, KB Home shares slipped on affordability concerns, while UPS also declined amid worries over weak demand. In contrast, International Paper gained as brokers predicted a guidance beat. Elsewhere, Tesla’s market share in Europe continued to decline, despite growth in overall EV registrations. In commodities, oil prices fell after Russia and Ukraine agreed to a Black Sea shipping truce, while US copper hit a record high. Closer to home, tax cuts for Australians were announced in the Federal Budget and looking ahead, the ASX is expected to lift on Wednesday ahead of key inflation data.
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