The Australian sharemarket slid sharply on Thursday after a stronger-than-expected jobs report dampened hopes of a 2025 interest-rate cut. The S&P/ASX 200 fell as much as 1 per cent to a 10-week low, with the unemployment rate unexpectedly dropping to 4.3 per cent in October alongside a 42,200 jobs surge. Money markets slashed the probability of a June RBA cut to 30 per cent, down from 80 per cent a week earlier.

The ASX 200 rose 0.1% to 8833.8 on Wednesday, supported by strength in energy and mining stocks, while losses in tech and financials capped gains. Rio Tinto rallied 2.6% and BHP added 0.8% after a rebound in iron ore prices. Mineral Resources surged 9% after selling a $1.2 billion stake in its lithium business to South Korea’s POSCO, while Liontown jumped 6% on a new digital trading partnership. Gold miners extended their rally as bullion climbed to US$4,134 an ounce, with Evolution up 2.3%.

The ASX surged on Monday, tracking global optimism after US senators reached a deal to reopen the government, lifting investor sentiment. By 2pm AEDT, the S&P/ASX 200 rose 0.6% to 8822.5, on track for its best day in two weeks. Wall Street futures also strengthened, with Nasdaq up 1%.

The Australian sharemarket edged lower on Friday, heading for its second straight weekly loss as investor sentiment cooled following the Reserve Bank’s decision to keep rates unchanged. The S&P/ASX 200 fell 0.5% to 8787.1 at 2:10pm AEDT, with the benchmark on track for a 1% weekly decline.

The ASX rebounded on Thursday, with the S&P/ASX 200 up 0.3% to 8823.7 by 2pm AEDT, snapping a multi-day decline as stronger gold prices and gains in major miners lifted the market. Gold stocks rallied after bullion rose 1.2% overnight to hold above US$3970 an ounce. Newmont climbed 2.6%, Northern Star 2.9% and Evolution Mining 3%.

The Australian sharemarket declined on Wednesday, pressured by weakness in mining and technology stocks as investors reassessed the interest rate outlook. The S&P/ASX 200 fell 0.3% to 8790.1 by mid-afternoon, positioning the index for its sixth loss in seven sessions. Sentiment softened after RBA governor Michele Bullock cautioned that inflationary pressures may prove more persistent, reducing expectations for further rate cuts this cycle.