Melt-up Monday 🥵

The market opened higher and kept on going, closing at three-week highs. It was a quintessential melt-up Monday, helped by soft volumes, month-end window dressing and hopes for a policy pivot from the Fed. Every sector except industrials finished higher, led by a 4.6% surge in information technology. Utilities fell 0.7%, dragged lower by a 1% decline in AGL shares as the company scrapped plans to split into two business units. Grok Ventures 1. AGL board 0. At the individual level, it was a contest between buy now, pay later firms and infant milk producers for top spot, the latter helped by acute shortages of formula in the United States. The S&P/ASX 200 rose 1.45%, adding 103.9 points to close at 7286.6.

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