The S&P/ASX 200 climbed 99 points or 1.2% to close at 8,605 on Tuesday, halting weakness in the prior two sessions, as bargain hunting emerged after markets hit a six-week low. Traders largely shrugged off a modest decline in U.S. stock futures, as they welcomed an improvement in consumer mood during May after April's 2-1/2-year low. However, strength was capped by the central bank's May minutes, which indicate underlying inflation in Australia will stay above 3% until late 2027, highlighting that persistent cost pressures had already been running before the Middle East conflict began. Almost all sectors gained, led by communications, logistics, and retail trade. Financials also rose solidly, following Australian government changes to investor tax concessions that could improve asset quality at the country's major lenders. The four big banks advanced between 0.9% to 1.9%. Other top performers were Woolworths Group (4.4%), SGH Ltd. (3.6%), Pro Medicus (3.3%), and QBE Insurance (3.1%).