The S&P/ASX 200 rose 0.2% to above 8,950 on Wednesday, recouping some losses from the previous session, with gold miners leading the market higher. Investors weighed US President Trump’s unprecedented removal of Federal Reserve Governor Lisa Cook, heightening worries about the central bank’s independence. Locally, the Reserve Bank of Australia signaled further rate cuts ahead, noting in its August minutes that the pace would depend on incoming economic data, particularly labor market conditions and inflation trends. Meanwhile, latest data showed Westpac Leading Index rose 0.1% in July, signaling sluggish growth and a slow recovery into 2026. On the corporate front, gold stocks led the advance, climbing 3% to a ten-week high amid higher bullion prices, as uncertainty over the US Fed’s independence drove safe haven demand. Conversely, Woolworths, Australia’s top supermarket chain, fell to a five-month low, tumbling 12.7% on a weak FY26 start and a 19% drop in full-year profit.