Key Highlights:

Market Performance: After a slow start, the S&P/ASX 200 index climbed by 0.84%, closing at 7,814. This rise was buoyed by slowing wage growth in Australia and easing US inflation, which have heightened expectations of potential rate cuts.

The 'Cost of Living' Budget: The federal budget introduced 'cost of living' measures, which, while aimed at boosting consumer spending, could potentially add to inflation pressures. These policies present a complex scenario for the RBA’s future monetary decisions.

Sector and Corporate Highlights: Significant gains were observed in the REITs (+3.9%) and tech (+3.1%) sectors. Aristocrat Leisure notably surged 12% following strong earnings reports, contrasting sharply with the underperforming energy sector.

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