In early Friday trading, the S&P/ASX 200 increased by 0.6%, reaching approximately 8,640, following a stagnant day in the previous session. The upward movement was spurred by gains in banking and technology sectors. The market sentiment improved significantly after Wall Street experienced an overnight boost, attributed to the recent lower-than-expected US inflation data which bolstered expectations for forthcoming Federal Reserve interest rate cuts. Local tech stocks advanced by 1.5%, mirroring the rise of their US counterparts, as tech major Micron Technology offered a favorable market outlook. This development allayed concerns regarding artificial intelligence investments and technology valuations. Leading the sector, companies such as Wisetech Global, Xero, and Technology One experienced increases ranging from 0.7% to 2.6%. Financial stocks also saw a rise, climbing over 1%, with the notable "Big Four" banks posting gains between 0.8% and 1.6%. Other significant gainers included Macquarie Group, a premier investment bank (+1.2%), biotech leader CLS (+1.1%), and gold mining company Newmont (+0.5%). However, the main index is on track for its first weekly dip in a month, influenced by persistent inflation and a central bank stance that remains hawkish, damping projections for additional rate cuts by the Reserve Bank of Australia.