Australian shares hit a record high on Friday, fuelled by miners and gold stocks, while the U.S. inflation data bore no surprises with traders assessing Federal Reserve officials’ comments earlier in the week on their monetary policy easing stance.
The S&P/ASX 200 index XJO rose 0.51% to 7,737.80 by 2347 GMT. The benchmark ended 0.5% higher on Thursday.
Overnight data from the world’s biggest economy showed U.S. inflation picked up in January, in line with expectations, while annual inflation was the lowest in three years.
Alluding to the data, Atlanta Fed President Raphael Bostic’s comments gave hopes to investors after he repeated his view that he sees the U.S. central bank cutting rates “in the summer months.”
The rate-sensitive financials 
XFJ gained as much as 0.3%, with both National Australia Bank 
NAB and Commonwealth Bank of Australia 
CBA up about 0.5% each.
Heavyweight miners XXMM rose 1.4%, and were on track for their best day in more than a week, if gains hold. Mining giants BHP Group 
BHP rose 1% while Pilbara Minerals gained 4.8%, hitting its highest level since Sept. 18.
Energy stocks 
XEJ gained 0.3% amid signs of weakening crude demand after the U.S. released positive inflation data.
Woodside Energy 
WDS and Santos 
STO gained 0.7% and 0.8%, respectively.
Gold stocks advanced 1.7% after the U.S. inflation print came in line with expectations, leading to a drop in the dollar. The stocks were on track for their best week since Feb. 2, if current trend holds.
Australian information technology stocks XXIJ rose 1.1%, while real estate shares (.AXRE) lost 0.2%, heading for their second consecutive drop.
Bucking the upbeat mood, health stocks 
XHJ dropped 1.8%, set for their worst day in more than two weeks, if losses hold.
Across the Tasman Sea, New Zealand’s benchmark S&P/NZX 50 index 
NZ50G lost 0.3% to 11,705.73.
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