Wall Street’s S&P 500 jumped late to avoid a fifth-straight day of losses.

Wall Street’s S&P 500 jumped late to avoid a fifth-straight day of losses.Credit:Bloomberg

Fortescue Metals and Evolution Mining were among the declines as the materials sector dropped 1.94 per cent.

Shaw and Partners senior investments adviser Adam Dawes said the dividends paid out to shareholders this week would “take the heat out of resources” stocks.

“Investors will probably look to sell those to take advantage of where commodity prices have been in the last 3-6 months,” he said.

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But the biggest losses were reserved for payments provider Tyro,down 9.7 per cent,which Dawes said was likely due to investors looking to cash in on recent gains.

Dawes said the market was likely to head into a period of selling as a “news vacuum” forms after an anaemic earnings season.

“Generally,the AGM[season] is where we get that outlook statement right at the end of the presentation,and that’s what the market will be hanging its hat on,” he said.

Meanwhile,AMP entered a trading halt in the morning before announcing it had lost the management of its $2.7 billion Capital Retail Trust. Shares in the financial services company finished down 1.72 per cent.

On Wall Street overnight,indexes were mixed at the closing bell as the S&P 500 added 0.3 per cent,with all of it coming in the last 10 minutes of trading. The gain ended a four-day losing streak for the benchmark index.

Tweet of the day:

Quote of the day: “This is,I think,the beginning of a new era of co-operation and consensus,and our task now is to take this moment,take this momentum,and to build something bigger on it.” Treasurer Jim Chalmers was buoyant when announcing “36 concrete outcomes” to come from the federal government’s job summit.

You may have missed:Brazilian miner Samarco and its owners,Vale and BHP,agreed to almost double their offer in compensation for a mine waste disaster which killed 19 people in Brazil’s east in 2015. Bloomberg reported on Friday the mining companies raised the proposal to more than $US19 billion ($28 billion) after Brazilian authorities were disappointed with the $US10 billion previously offered.

With AP

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