The S&P/ASX 200 Index shed 0.2% to close at 8,310 on Friday, giving back some gains from the previous session following a weak session on Wall Street overnight as megacap technology names came under pressure. Despite the decline, the benchmark index still posted a modest weekly gain, bolstered by a surprise slowdown in US core inflation, which fueled expectations of further Federal Reserve interest rate cuts this year. Domestically, traders are anticipating that the Reserve Bank of Australia will begin cutting rates as soon as next month, with an April rate reduction now fully priced in. Financial stocks led the retreat, with Commonwealth Bank (-1.2%), Westpac Banking (-1.5%), ANZ Group (-1.8%), and National Australia Bank (-1.7%) all posting losses. Energy stocks were also under pressure amid weaker oil prices, while mining shares saw a mixed performance.
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