Market Wrap / Jobs surprise

Tailwinds from the Wall St session helped lift the S&P/ASX 200. The Fed hit the right note for markets, flagging future rate cuts and pledging to keep an open mind as the data directs.

Locally, an unexpected fall in jobs participation stoked hopes for a RBA interest rate cut this year. This brought the market 1.2% higher to 7918.90 points.

The banks and REITs rallied this Thursday. ANZ and CBA notably benefitted from positive broker coverage. The largest bank gaining 2.2% at market close. 

The tech sector leaped 2.4% pushed by Wall Street gains. WiseTech advanced 2.5%. 

Only the materials space ended in the red, with BHP slipping 1.1%. However, the uranium players extended on previous gains amid tensions in Ukraine. Boss Energy was a standout, up 8.4%. 

In company news, Brickworks CEO Mark Ellenor said demand for building materials is expected to "remain at a cyclical low" and flagged subdued sales for the remainder of 2025. The stock’s return to profitability still allowed it to gain 1%. 

Overnight, focus will turn to the Bank of England, which is also expected to leave its directing rate at 4.50%.