The S&P/ASX 200 gained 0.7% to 9,093 on Tuesday, extending gains from the previous session as market sentiment remained buoyant amid progress on a key US-Australia trade agreement. Optimism was fueled by the signing of a critical minerals partnership between US President Donald Trump and Australian Prime Minister Anthony Albanese, as the US seeks to reduce its reliance on China, which has recently tightened export controls on its own critical minerals. Prime Minister Albanese hailed the agreement as a transformative step that takes the US-Australia alliance “to the next level.” Consequently, critical mineral stocks posted solid gains, with Iluka Resources Ltd surging nearly 5%, IGO Limited rising 2.5%, and Lynas Rare Earths adding 1.3%. Elsewhere, gold stocks also showed strength, with Evolution Mining climbing 4.9%, Northern Star Resources gaining 1.6%, and Newmont Corporation up 2.5%.