SYDNEY — The S&P/ASX 200 Index climbed more than 1% on Wednesday, May 6, 2026, reaching 8,767.7 points in afternoon trading as investors welcomed strong U.S. corporate earnings, signs of stabilization in the Middle East and renewed optimism ahead of key domestic economic data.

At 3:18 p.m. AEST, the benchmark had gained 87.2 points or 1.01%, snapping a string of recent declines and moving back toward positive territory for the week. The broader All Ordinaries index followed a similar path, rising around 0.9%. Gains were broad-based, with eight of the 11 sectors trading higher.

The rebound came after Wall Street closed at record highs overnight, driven by solid earnings from major technology and industrial companies. U.S. indices benefited from easing fears over prolonged disruptions in the Strait of Hormuz and expectations of a more measured Federal Reserve policy path.

Mining and Energy Lead Gains

Mining stocks provided strong support as iron ore and copper prices stabilized. BHP Group and Rio Tinto both advanced solidly, while smaller miners benefited from improved commodity sentiment. Energy names also performed well amid a modest pullback in oil prices from recent highs, with Woodside Energy and Santos among the session's notable........

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