Thanks afternoon crew.
End-of-day summary:
Australian shares closed at a four-month high as financial markets started to price in interest rate cuts here and in the US across 2024.
Strong overnight leads catapulted the ASX 200 up 120 points or 1.65% to 7378. Today's close was the index's best since the first day of August.
Rate-sensitive stocks surged here after the US Federal Reserve flagged up to three rate cuts next year. Market pricing indicated traders anticipate the first Australian cut may now come as soon as June, with another likely to follow before the end of 2024.
The tailwind lifted every sector. Notable gains included the gold sub-sector +5.6%, REITs +3.92% and technology stocks +2.9%.
US futures were firmly positive as the Australian session ended. S&P 500 futures were trading 0.41% ahead.
Day traders' after-market lounge December 14
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