ASX eases back after surge to two-month high

Summary

• The ASX 200 gained as much as 1.2% on Tuesday and was at a two-month high. The index has since pulled back 
• Wall Street investors flocked to value stocks overnight, sending the Dow and S&P 500 higher and the NASDAQ lower
• Victoria recorded 19 coronavirus-related deaths for the second consecutive day and has 331 new cases. NSW has 22 new cases, with eight linked to a growing school cluster
• The ABS says payroll jobs nationally fell by 0.1% in the fortnight between July 11 and 25, dragged down by Victoria