Market Wrap / tariff talks

New hopes of a trade war de-escalation fuelled optimism on the S&P/ ASX 200, which gained 0.33% to 8178.30 points this Thursday.

Scott Bessent, the US Treasury Secretary, mentioned trade negotiations were underway with an undisclosed number of countries, and he will meet Chinese representatives on Thursday.  

China announced further stimulus, cutting its reserve requirement ratio by 50 basis points and the seven-day reverse repurchase rates by 10 basis points to 1.4%, which sent the Aussie dollar and iron ore prices higher. Locally, this benefited the likes of BHP and Rio, with the latter 0.6% higher at the end of the session. 

The banking sector also pushed the local market ahead. NAB was up 1.6% as it reported a slight jump in half-yearly cash profit. Westpac was in the red as it trades ex-dividend tomorrow. 

Meanwhile, ASIC pulled up Macquarie Group for "ineffective supervision" of its trading desk, but the share price still advanced as the company held the second day of its annual conference. There, Zip addressed investors as it reported an FY25 operating margin surge, which sent the stock 13% higher. 

Elsewhere; the healthcare sector showed a poorer form as President Trump reaffirmed plans to tax healthcare imports into the US. CSL shed 3%. 

Investors will keep looking at the US tonight as the FOMC hands down its interest rate decision.