The S&P/ASX 200 rose 0.4% to above 8,595 on Thursday, reversing losses from the previous session, supported by a positive lead from Wall Street overnight. Market sentiment improved after US President Trump signaled no intention to remove Fed Chair Powell, easing concerns over central bank independence. Domestically, investors turned their focus to Australia’s June employment report, expected to show the jobless rate steady at 4.1% for a sixth straight month, alongside a gain of 20,000 jobs. The Reserve Bank of Australia will closely monitor the data, as a stronger labor market could temper expectations of an August rate cut, while softer figures may reinforce the case for easing. In corporate news, Santos reported Q2 production of 22.2 million barrels of oil equivalent, flat from last year and up 1% from Q1. Leading across the index were gold miners, up nearly 1% amid higher bullion prices, such as Newmont (1.7%). Major banks were also in the green, including CBA and Westpac, up 4%.