Day traders' after-market lounge December 27

Thanks afternoon crew.

End-of-day summary:

Two days of US stock gains and a surge in iron ore helped the Australian share market test 20-month highs.

The ASX 200 rallied 60 points or 0.79% to its strongest level since April 2021. Property and tech stocks led a rally that boosted all 11 sectors.

The heavily-weighted materials sector climbed 1.14% as BHP touched fresh heights. China-traded iron ore prices rallied 3% on Friday and another 1.3% yesterday after the government stepped up stimulus measures.

Traders were greeted this morning by two sessions of solid US gains since the ASX last traded. The S&P 500 lifted 0.42% overnight after a 0.17% rise on Friday.