Market Wrap / it's a marathon, not a sprint

The Australian share market reset an all-time high for a third time this week during Friday's trade, before closing off those highs.The S&P/ASX 200 climbed 0.19% by close to finish at 8,555.80 points, a 0.52% gain over the course of the week.

CBA (ASX: CBA) shares weighed on the financial sector after Australia's largest listed stock was subject to profit taking after hitting yet another all time high in early trade of $166.72. Elsewhere, traders shrugged off tariff threats from President Trump, with tech stocks rising 1.37% and the consumer discretionary sector up 0.93%.The materials sector was higher by 0.29% despite concerns a cyclone set to hit Australia's iron ore hub could disrupt production. 

In earnings news, AMP (ASX: AMP) and Cochlear (ASX: COH) shares were punished. AMP's full-year profit nearly halved sending shares down 15.16% while Cohlear slumped 12.91% after downgrading its full-year forecast.

Avita Medical (ASX: AVH) leapt 12.32% after increasing full-year guidance.

And Temple & Webster hit a fresh record on the back of its sales topping market expectations, driven by a surge in sofa and bathroom fixture sales. 

Tonight, Moderna releases earnings in the US. Next week, the RBA meets while more than 140 ASX companies release their earnings to the ASX including BHP (ASX: BHP), Telstra (ASX: TLS) and Fortescue (ASX: FMG).