Index Update: The Australian sharemarket returned to positive territory on Thursday, snapping a six-session losing streak. The S&P/ASX 200 gained 30.00 points, or 0.33%, to close at 9,083.80. Despite the rebound, the benchmark remains 1.14% lower over the past five sessions and is trading 2.29% below its 52-week high. A wave of full-year earnings announcements and easing pressure in Global Bond markets lifted sentiment.

Sector performance remained mixed, with more sectors finishing in negative territory despite the broader index gain. Materials led the market with a 3.52% rise, extending its five-day gain to 2.71%. Information Technology climbed 2.54%, while Health Care advanced 1.39% and Energy added 0.45%. On the downside, Financials fell 1.93%, followed by Consumer Staples at 1.17% and Industrials at 1.05%. Communication Services also declined 0.71%, while Consumer Discretionary slipped 0.27%. The session highlighted a divided market, with strength in Materials and technology stocks offsetting weakness across several heavyweight sectors.

Macro Update: Australia’s labour market softened in July, with the seasonally adjusted Unemployment rate rising to 4.5%, according to the Australian Bureau of Statistics (ABS). Employment fell by 16,000 people, while the number of unemployed increased by 4,000. The employment-to-population ratio slipped 0.2 percentage points to 63.9%, while the participation rate also fell 0.2 percentage points to 66.9%. The underemployment rate stood at 6.4%.

Globally, bond markets found some relief after a surprise move by the US Treasury to double long-end Debt Buybacks to at least USD 4 billion per operation. The announcement helped halt a broad rise in long-term borrowing costs after the benchmark US long Bond Yield reached its highest level since 2007. However, concerns around Inflation and expanding government debt continued to keep markets cautious, with yields remaining close to multi-decade highs.

Top Market Movers: ZIP Co Limited (ASX:ZIP) led the gainers, rising 18.22% to AUD 3.050, followed by Super Retail Group Limited (ASX:SUL), which gained 15.05% to AUD 14.450, and Ora Banda Mining Ltd (ASX:OBM), up 14.03% to AUD 1.585. Among decliners, Helia Group Limited (ASX:HLI) fell 11.09% to AUD 5.050, Downer EDI Limited (ASX:DOW) dropped 10.34% to AUD 6.680, while Sonic Healthcare Limited (ASX:SHL) declined 9.25% to AUD 21.380.

Commodity Update: The U.S. dollar remained under pressure on Thursday, hovering near three-month lows as investors assessed U.S. Treasury measures aimed at easing bond-market stress after long-term yields reached their highest levels since 2007. Gold edged up 0.07% to USD 4,548.60, while silver climbed 2.11% to USD 67.21. Copper slipped 0.03% to USD 14,048.25. Brent Crude advanced 0.30% to USD 91.87 as markets monitored the U.S.-Iran war and shipping risks around the Strait of Hormuz.

Our Stance: The Australian sharemarket ended Thursday higher, with the S&P/ASX 200 rising 0.33% to 9,083.80, snapping a six-session losing streak. Materials and Information Technology led gains, while Financials, Consumer Staples and Industrials remained under pressure. Australia’s unemployment rate rose to 4.5% in July, alongside softer employment and participation data. Globally, US Treasury buybacks provided some relief to stressed bond markets, although inflation and debt concerns persisted. Gold and silver advanced, while Brent crude edged higher amid geopolitical risks. Overall, the rebound is encouraging, but weak market breadth, softer labour data and elevated bond-market uncertainty suggest sentiment remains fragile.

On the technical front, the S&P/ASX 200 Index gained 30.00 points in the latest trading session, reinforcing the constructive near-term technical outlook. The index continues to hold above key support near 9,030, which remains crucial for sustaining the prevailing bullish bias. A sustained hold above this level could attract renewed buying interest and support a recovery towards recent highs, while a decisive break below 9,000 would weaken the technical setup and increase downside risk. On the upside, a breakout above the recent swing high near 9,120 could strengthen bullish momentum and potentially pave the way for further gains towards the 9,200 level.