Market Wrap / guac and roll 🌮

In a week of extreme volatility on the local index, Australian shares finished on a high on Friday.Optimism over an end to the Middle East conflict and the possibility of less aggressive monetary policy has been enough to sustain investors.The S&P/ASX200 rose 0.4% to end at 8,657 points, leaving it up 0.3% for the week and taking it back to where it began the year.The resources sector led the gains with Rio Tinto adding 1.4%, while gold miner Evolution Mining rebounded and copper miner Sandfire Resources jumped 4% after broker upgrades.The banks ended higher while insurer IAG fell 4% on warnings it could face claims arising from the failed financier Greensill. Guzman y Gomez shares surged 9%, adding to the previous session's gains, after calling it quits in the US. Tuas fell 1.7% after terminating its $1.5 billion deal for subsidiary Simba Telecom to buy M1 in Singapore. Monadelphous rose 1.7% after signing $120 million in new contracts and Appen jumped 9.4% as it reaffirmed its 2026 revenue guidance.Tonight, US consumer sentiment and inflation expectations are revealed ahead of the Memorial Day long weekend.