The ASX rose by 0.3% to reach a record high of 8,122 points, driven by Austal securing a significant US defense contract — here’s how it unfolded.

The ASX200 climbed by 0.3% to close at a record high of 8,122 points, surpassing the previous peak set in August by 8.9 points.

Meanwhile, Wall Street finished the week on an optimistic note, just 1% shy of a new record, as investors speculated about the scale of the Federal Reserve’s anticipated rate cut this week.

Here’s a recap of the day’s events.