Market Wrap / labour lift

Despite a lower open, the S&P/ASX 200 managed to end this Thursday 0.22% higher, reaching 8297.50 points. 

This was due in part to the tech sector, tracking a US momentum and being the best performing sector in percentage gains. 

Xero shares rose 4.7%, shrugging off a negative start after an earnings miss. Full year profit rose 30% to NZ$227.8 million.

GrainCorp was the best performer, rising 8.8% after declaring a special dividend and increasing its share buyback.

A 1.3% gain from index leader CBA saw the banks help the market's bounce back, with the 'Big Four' all in the green. The positivity in the banking sector came after an unexpected jump in jobs last month. Although a rate cut next week is still expected, some economists suggest a slower rate cut path moving forward. Unemployment remains at 4.1%. 

Elsewhere, the local miners reversed a previous iron ore rally. BHP was down 0.7%.

And NRW Holdings shed 8.3% as it warned that the SA government's intervention to accelerate the sale of the Whyalla steelworks could "seriously undermine" its business.

Overnight, US PPI and retail sales are due, while Fed Chair Jerome Powell will deliver some remarks on a monetary policy framework review.