Day traders' after-market lounge December 6

Thanks afternoon crew.

End-of-day summary:

The share market closed at an 11-week high as slowing economic growth bolstered expectations that interest rates have peaked and will start to fall next year.

The ASX 200 surged 117 points or 1.65% to its strongest close since mid-September. All 11 sectors rallied, led by REITs, telcos and consumer staples.

Investors added to early buys after unexpectedly soft GDP figures implied the Reserve Bank has likely done enough to slow the economy and steer inflation on course for the bank's 2-3% target range. The economy grew just 0.2% in the September quarter, half the rate anticipated by economists. Household spending declined 2%.

Financial markets quickly priced in the likelihood that the central bank will start cutting benchmark rates next year.

"There is now a 50% chance of a 25 percentage point rate cut by June next year and a full 25 percentage point cut priced for November 2024," IG market analyst Tony Sycamore said.