The S&P/ASX 200 Index (ASX: XJO) is edging higher again on Friday after a choppy start to September.
At the time of writing, the benchmark index is up 0.12% to 9,031 points, after briefly climbing above 9,060 earlier this morning.
That follows Thursday's 0.46% gain, which snapped a 3-day losing streak and helped the market recover some of Wednesday's 0.97% fall.
The positive start is being seen across much of the market. At the latest check, 126 ASX 200 shares were trading higher, compared with 57 fallers and 17 unchanged.
So, what is driving the market higher today?
Image source: Getty Images
US markets set the tone
The biggest support came from Wall Street, where US stocks finished higher overnight.
The Dow Jones Industrial Average Index (DJX: .DJI) rose 1.18%, while the S&P 500 Index (SP: .INX) lifted 1.06% and the Nasdaq Composite Index (NASDAQ: .IXIC) shot up 1.40%.
The rally came after US Federal Reserve Governor Christopher Waller said he would support keeping interest rates unchanged this month if upcoming data shows inflation is continuing to cool.
That saw markets reduce the chance of a September rate hike to around 50%, down from more than 63% a day earlier.
But investors will get another important piece of data tonight when the latest US jobs report is released.
Economists expect the US economy added around 56,000 jobs in August, with the unemployment rate holding at 4.1%.
Banks and gold stocks move higher
Back home, the major banks are helping push the market higher this morning.
Commonwealth Bank of Australia (ASX: CBA) shares are up 0.85% to $161.95, while ANZ Group Holdings Ltd (ASX: ANZ) is 0.97% higher at $38.38.
National Australia Bank Ltd (ASX: NAB) shares have gained 0.56% to $39.49, and Westpac Banking Corp (ASX: WBC) is up 0.63% to $35.13.
Gold miners are also having a strong morning after the gold price rose around 2.54% overnight to roughly US$4,480 an ounce.
Northern Star Resources Ltd (ASX: NST) shares are up 1.99% to $23.63, while Evolution Mining Ltd (ASX: EVN) has gained 1.50% to $15.24.
BHP and Rio Tinto weigh on ASX 200
Not everything is moving higher today, with weakness among the big miners holding the ASX 200 back.
BHP Group Ltd (ASX: BHP) shares are down 1.73% to $62.68, despite its US-listed shares pointing to a stronger start before the opening bell.
Rio Tinto Ltd (ASX: RIO) is also down 1% to $175.34, although Fortescue Ltd (ASX: FMG) is moving the other way, up 1.65% to $17.23.
