The market reacts to trade talks between the US and China as pharma stocks take a tumble.

MARKET WRAP:

• ASX200: Up 0.01% or 2 points to 8,233
• GOLD: down 1.3% to $3,271/oz
• BITCOIN: $163,018

• A positive day on the markets today, seeing early rises as investors await the outcomes of trade talks between the US and China, with an update to be delivered overnight our time.
• Energy and iron ore mining stocks rallied, seeing a gain from investors hoping lower tariffs on China could stimulate demand for commodities.
• 5 of the 11 markets finished in the green, with healthcare and utilities each suffering a 1% drop thanks to profit taking.

CURRENCY UPDATE:

• AUD/USD: 64 US cents
• AUD/GBP: 48 British pence
• AUD/EUR: 57 Euro cents
• AUD/JPY: 94 Yen
• AUD/NZD: 1.09 NZ dollars