The S&P/ASX 200 climbed 0.7% to around 8,870 on Friday morning trade, reversing losses from the previous session, after Wall Street rallied to a third straight record close. Global equities have been advancing as mixed US data reinforced expectations of a Federal Reserve rate cut next week, with a weak jobs report outweighing a hotter inflation print. Still, the ASX 200 looks set to finish the week on a muted note, partly due to global trade uncertainties and the Reserve Bank of Australia’s likely decision to hold rates steady this month. On the corporate side, financials and gold stocks led the charge. The “Big Four Banks” jumped between 1% and 1.5%, while gold miners Newmont and Northern Star gained 1.3% and 0.9%, respectively, as bullion hovered near all-time highs. Conversely, energy stocks fell, with Woodside down 0.8% and Santos Limited 0.9%, as oil prices dropped on concerns over weakening US demand and oversupply, despite geopolitical tensions in the Middle East and Ukraine.