Market Wrap / inflation nation

A new record high for the S&P/ASX 200, closing at 9,128.30 points, with a 1.17% gain on Wednesday. 

Inflation data showed a stronger consumer environment, while the mining momentum continued, and investors piled again into tech carried by Wall Street tailwinds. 

Core inflation hit a six-month high to 3.4% in January. 

And reporting season was still front of mind. Woolworths was on track for its best daily performance since listing, up 13% after reporting a rise in underlying profit for the half year, thanks to improved sales and EBIT across all segments.

Elsewhere, Fortescue half profit rose thanks to record iron ore shipments and higher iron ore prices. The stock appreciated by 4.7%. 

In logistics and tech, WiseTech advanced by 11% as it is planning a two-thousand job cut with AI continuing to overhaul business. Iress was also higher as it forecast a lift in Full Year 26 underlying profit, thanks to cost reductions. 

Among the stocks dragging the market, Domino’s Pizza dropped by 11% this Wednesday. It says a shift away from discounting has reduced sales, but swung from a loss a year ago to net a profit of nearly $41-million dollars for the half year.

Nvidia results will now be the focus point overnight, especially for an AI-attentive tech sector. On the reporting calendar, Coles, Qantas, Karoon Energy and Lynas Rare Earths are among companies reporting tomorrow.