Market Wrap / January jump

The S&P/ASX200 climbed to a record high during Friday's trade, before closing slightly off those levels.The index rose 0.5% to 8532.30 points, and was up 1.5% over the course of the week. 

The miners and REITs did the heavy lifting while utilities stocks dragged the local market. Tech stocks powered ahead in late trade as NASDAQ futures rose.

The mining sector delivered a solid performance, with BHP higher by 1.2% and solid gold prices sparked by safe-haven demand on the threat of US tariffs. Newmont added 3.8%.

Lend Lease rose 2% as it announced offloading Capella Capital to Japanese firm Sojitz Corp for $235 million. 

However, the utilities sector was severely hit by Origin’s 6.7% slump. The company is forecasting lower LNG production in 2025.

In the health space, ResMed posted a 10% jump in revenue for the second quarter to US$1.3 billion. Speaking with ausbiz, CEO Mick Farrel says the company is well positioned to capitalise on the "once in a generation" opportunities relating to consumer wearables that track sleep health, as well as weight loss drugs. Shares fell by 0.8%

Next week, investors and the RBA will look at retail, building and trade data locally, before a highly anticipated rate decision later in February. Reporting season kicks off with NewsCorp, REA Group and Nick Scali among the companies reporting.