The S&P/ASX 200 traded slightly higher around 8,598 on Thursday, staying near record highs, as market sentiment remained upbeat following remarks from US President Donald Trump regarding the US-China trade deal. On Wednesday, Trump said he was very happy with a trade agreement that appears to revive a fragile truce in the prolonged trade war, a day after negotiators from both sides agreed on a framework covering tariff rates. In Australia, investors are now turning their attention to the upcoming release of consumer inflation expectations for June 2025, a key data point that could influence the RBA's monetary outlook. Markets are now pricing in a 97% probability of a 25 bps cut in July, with futures suggesting a cumulative 75 bps of easing, which would bring the cash rate down to 3.1% by year-end. The financial sector saw modest gains, with Commonwealth Bank of Australia rising 0.6%, National Australia Bank adding 0.3%, and Westpac Banking Corporation edging up 0.2%.