Market Wrap / shiny things & wild swings

The S&P/ASX 200 reached a closing intraday high this Thursday, as the likelihood of a November rate cut was boosted by a rise in unemployment. The local market jumped 0.86% to 9,068.40 points by close of trade. The real-estate sector realised solid gains, with Stockland up 4% as it also reaffirmed its FY26 guidance. Meanwhile, the banks were also in the green. Macquarie Group, which is selling some of its data centres for $61 billion, advanced by 5.1% today. And Westpac closed 0.2% higher despite saying its reported after tax profit for 2025 will be reduced by 56-million. And the bullion kept its rally going on US rate cuts anticipation, which sent Bellevue Gold 5.9% higher.In company news, AMP was today’s best performer with quarterly AUM and platform net cash flows tracking higher. And Treasury Wine Estate was holding its AGM today, just after having withdrawn its earnings guidance.