The S&P/ASX 200 edged up 0.1% to end at 8,860 on Friday, extending gains from previous session as gains in gold and tech stocks lifted the market. However, the benchmark index fell 0.5% for the week, as expectations for a near-term rate hike ramped up. A strong jobs report in December sharply lifted bets of a rate increase in February to 60%, and over 80% odds in May. Focus now turns to next week’s quarterly inflation data. Meanwhile, gold miners jumped nearly 5% as bullion prices hit record high. Sector leaders Northern Star and Evolution Mining surged over 5% each. Technology stocks also advanced 3.8%, with Life360 climbing 27% to hit its highest level since December 15, after the family-tracking app provider forecast full-year revenue around 31–32%. In contrast, rate-sensitive sectors retreated, led by financials, with the four largest banks trading in the red. While higher interest rates support bank profitability, they risk dampening the mortgage market by deterring new borrowing.
