The ASX closed 0.5% higher, driven by solid gains on Wall Street, with strong results lifting JB Hi-Fi and other consumer stocks. Meanwhile, Aurizon and Beach Energy declined, and the RBA issued a warning about ‘false prophets’ — here’s how it unfolded.

The ASX closed 0.5% higher, buoyed by Wall Street’s resilience in overcoming recession fears, recent volatility, and last week’s steep decline. The local market saw solid gains from banks and consumer stocks like JB Hi-Fi, which posted strong results, offsetting declines in mining stocks driven by falling iron ore futures. Catch up on the day’s developments in our live markets blog.