By Oliver Gray
Investing.com - The S&P/ASX 200 added 51.90 points or 0.70% to 7,464.30 during Tuesday’s deals, gaining for the 6th straight session and closing at fresh 10-week highs as investors remained optimistic ahead of Treasurer Josh Frydenberg’s delivery of the Federal Budget later tonight, which expected to provide temporary and targeted measures to relieve cost-of-living pressures.
Among stocks, technology companies finished 3.29% higher overall, as Block Inc (ASX:SQ2) rallied 6.82%, Appen Ltd (ASX:APX) added 6.69%, Megaport Ltd (ASX:MP1) lifted 4.27%, Novonix Ltd (ASX:NVX) added 1.52%, Altium Ltd (ASX:ALU) gained 1.85%, Xero Ltd (ASX:XRO) lifted 3.26% and Wisetech Global Ltd (ASX:WTC) added 3.69%. Zip Co Ltd (ASX:Z1P) also gained 4.76%.
Consumer Discretionary also gained 2.12% as JB Hi-Fi Ltd (ASX:JBH) gained 2.34%, Crown Ltd (ASX:CWN) added 0.87%, Domino's Pizza Enterprises Ltd (ASX:DMP) lifted 3.01%, Tabcorp Holdings Ltd (ASX:TAH) added 3.17% and Wesfarmers Ltd (ASX:WES) gained 1.83%
Materials were 0.18% lower collectively, as Rio Tinto Ltd (ASX:RIO) lost 1.38%, BHP Billiton Ltd (ASX:BHP) fell 0.59% while Fortescue Metals Group Ltd (ASX:FMG) added 0.36%.
Financials gained 0.57%, as Macquarie Group Ltd (ASX:MQG) added 1.37%, National Australia Bank Ltd (ASX:NAB) lifted 0.6%, Westpac Banking Corp (ASX:WBC) gained 1.08% and Commonwealth Bank Of Australia (ASX:CBA) increased 0.22%.
On the bond markets, Australia 10-Year rates were at 2.893% while United States 10-Year yields were around 2.47%.
In New Zealand, the NZX 50 added 0.07% to 11,920.