The S&P/ASX 200 Index rose 0.66% on Tuesday, closing at 8,402 and marking its highest level in six weeks. This surge followed Donald Trump’s swearing-in for his second term as US President, with markets finding relief after he refrained from imposing new tariffs. Domestically, investors are anticipating Australia's quarterly inflation report, due next week, which could strengthen expectations for an earlier interest rate cut. Market speculation is growing that the Reserve Bank of Australia may begin reducing rates as early as next month. Leading the rally were heavyweight banks and mining stocks, with Commonwealth Bank rising 0.7%, ANZ Group up 1.7%, and BHP Group gaining 0.7%. Yancoal shares soared nearly 6% after reporting a 5% increase in saleable coal production to 36.9 million tonnes, in line with targets.
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