Shares added 0.3 percent by lunchtime, on track for a tenth consecutive session of gains—the longest streak since 2015—amid a wave of earnings reports from corporate Australia. The rise mirrors gains on Wall Street, where revised US jobs data suggested a cooling labor market, raising expectations that the Federal Reserve may cut rates next month.

Gold hovered near its record high, fetching $US2509 an ounce, while iron ore rebounded, helping the materials sector gain 0.8 percent. The technology sector led with a 1.5 percent rise, driven by WiseTech’s 7 percent surge to a record high of $120.07.

However, not all companies fared well. Megaport plunged 15 percent after disappointing earnings, while Collins Foods fell 12 percent following a profit margin warning for 2025. G8 Education also dropped 15.3 percent despite profit growth, citing challenges ahead. Meanwhile, Medibank’s profit rose 14.1 percent to $570.4 million, with plans for further growth. Northern Star doubled its profit, and Whitehaven Coal announced the sale of a 30 percent stake in Blackwater mine to Nippon Steel for $US1.1 billion.