End-of-day summary:
The ASX 200 broke above 8100 for the first time as signs of cooling inflation here and in the US fuelled rate cut bets.
The Australian benchmark finished the day at a new closing high of 8114.7 after rising 22 points or 0.26%. Earlier, the day also brought a new intraday all-time high of 8148.7.
Following yesterday's positive news on domestic inflation, a new wave of rates optimism swept financial markets after the US Federal Reserve indicated it was readying to cut rates next month if inflation continues to cool. Confirmation from Fed Chair Jerome Powell helped sweep the Nasdaq 2.64% higher and the S&P 500 up 1.58%.
Oil and base metals also rose overnight, boosting miners and energy producers. The ASX tech sector climbed to within sight of its 2021 highs with a gain of 1.62%. The REIT sector was also at a multi-year high after advancing 1.74%.
