The ASX 200 jumped 139 points, or 1.6%, to 8,732 on Friday, erasing the prior session’s weakness with broad-based gains led by electronic tech, non-energy minerals, consumer durables, and financials. Sentiment improved after reports of a U.S.–Iran memorandum extending the truce for 60 days, though President Trump reportedly has yet to approve it. Locally, expectations of further rate hikes eased following a weaker-than-expected headline inflation in April, an unexpected drop in employment, and a decline in household spending. Standouts included BHP (2.9%), Rio Tinto (1.2%), Evolution Mining (4.3%), and Northern Star (3.4%), while the big four banks added 0.2%–0.9%. In contrast, energy stocks fell, with Santos down (-0.5%) and Origin Energy edged down 0.2%. Local equities notched a second straight weekly rise, contributing to back-to-back monthly gains of about 0.8%. Focus now shifts to key domestic releases next week, including Q1 current account, GDP, and April trade data.