Day traders' after-market lounge December 19

Thanks afternoon crew.

End-of-day summary:

The share market swept to its strongest close in 10 months as the latest RBA minutes prompted economists to predict interest rates have peaked.

All 11 sectors rose as the ASX 200 rallied 63 points or 0.84% to 7489. Two sectors that benefit most from lower rates - utilities and tech - led the advance. Also strong were consumer stocks, emerging companies (spec stocks) and energy producers.

Positive leads from Wall Street were bolstered by signs the Reserve Bank is done with raising rates. While the minutes from this month's policy meeting left the door open for additional increases, several economists said the central bank is likely finished.

"We think the cash rate has peaked at 4.35 per cent,"ANZ's economics team wrote.

Commonwealth Bank economist Gareth Aird predicted three quarter-point cuts next year and another three in the first half of 2025, bringing the cash rate target down to 2.85%.

"The need for further rate rises has dissipated," he said.