The S&P/ASX 200 climbed 0.8% to around 8,850 in early Thursday trade after a three-session losing streak, tracking Wall Street gains amid easing US–Europe tensions, while investors weighed the latest local jobs report. Data showed the unemployment rate fell to a seven-month low of 4.1% in December as employment jumped 65,200, led by full-time hiring. The strong labor market result reinforces the Reserve Bank’s view that conditions remain tight and, along with next week’s quarterly inflation print, will be key for policymakers ahead of the February meeting. Elsewhere, US President Trump walked back tariff threats on Europe and ruled out taking Greenland by force. He also announced a framework of an deal had been reached. Among top performers were rate-sensitive banks, real estate, and consumer discretionay stocks. Gas producer Santos also advanced 3.1% after forecasting higher 2026 output, and mining giant Rio Tinto hit record high. However, gold miners fell as bullion prices eased.