The S&P/ASX 200 rose 0.7% to around 8,880 on Thursday, hitting a fresh record-high, as investors closely watched the critical July jobs report for insights into the policy outlook. The data, due later today, comes after the Reserve Bank of Australia cut rates by 25 bps to 3.6%. Economists expect 25,000 new jobs in July, following June’s modest 2,000 gain, with unemployment forecast to ease to 4.2% from 4.3% and participation holding at 67.1%. While subdued job growth has supported rate cuts, a stronger report could point to renewed economic momentum. Elsewhere, mounting expectations for a September US Fed rate cut also supported sentiment globally. In corporate news, Westpac climbed 6.5% to an all-time high after reporting a steady A$1.9 billion Q3 profit, up 5% from last year. Meanwhile, CBA extended losses by 1.2% after record profit failed to ease valuation concerns. Copper miners also fell, led by Rio Tinto (-2.4%), after Chile cut its forecast for 2025 copper production growth.