End-of-day summary:
The share market closed at its highest in more than three months as a rally in US stock futures pointed towards a rebound session when Wall Street reopens for trade tonight following a long weekend.
The ASX 200 climbed 47 points or 0.56% to 8407.6. The Australian stock benchmark last finished higher on February 19, a few days after US President Donald Trump first declared plans to impose "reciprocal tariffs" on trading partners.
Banks, tech companies, industrials and healthcare providers provided momentum this session, offsetting weakness in iron ore producers as ore prices fell 2% in China for a second session.
US stock futures rallied with European stocks overnight after Trump rescinded a threat to impose a 50% tariff on European Union imports from this weekend. S&P 500 futures firmed 0.88% while regular share trade was suspended for the Memorial Day long weekend.
