The local market closed at yet another record high, driven by strong gains in cyclical sectors. The S&P/ASX 200 climbed 0.3% to 7584.3. The Chi-X 200 added a smaller 0.2% - a podcast by ausbiz

The local market closed at yet another record high, driven by strong gains in cyclical sectors. The S&P/ASX 200 climbed 0.3% to 7584.3. The Chi-X 200 added a smaller 0.2%. Financials were the standout performer, inspired by the CBA’s full year result which beat across almost every metric. Australia’s largest lender added 1.5%. Along with a steeper yield curve and solid lead from Wall Street, all the big four banks added more than 0.8%. Utilities were also in demand, possibly helped by the $US1 trillion infrastructure bill passing the US Senate. Local earnings season continues to rattle along with Telstra, Goodman Group, QBE and NAB just some of the bigger names who’ll report tomorrow (Thursday).

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