Market Close 16 Jan 25: Best day of the year

US inflation data fuelled optimism across markets, with softer-than-expected core inflation restoring hopes for rate cuts in the US this year. The ASX 200 surged 1.3%, marking its best day of the year, buoyed by US market gains and a strong local jobs report, albeit mostly part-time. Financials and tech stocks rebounded sharply after recent losses, while commodity prices rose on a weaker US dollar. Iron ore miners saw mixed performance, with Rio Tinto noting higher production costs but strong copper output. Buy-now-pay-later firm Zip also made gains amid lower US borrowing costs and positive broker sentiment. Looking ahead, key data from the US, China, and major corporate earnings could shape market movements into the week’s close. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.