ASX 200 adds 0.47%, banks up as IT stocks bounce back

The news: The Australian sharemarket gained 0.47% to 7,182.1 on Thursday as hopes for AI, tech and markets more generally were buoyed by Nvidia's performance overnight. The Aussie dollar is buying 0.647 US cents. Natural gas prices rolled over after Woodside reached an in-principle agreement with unions to avoid strikes at three of its LNG facilities.

The numbers: Volatility in IT shares continued with the sector gaining 4.2%, but it's only 1.58% stronger for the week. WiseTech bounced back by 8% after losing a fifth of its share price on Wednesday over weak guidance. Financials lifted 1.04% as CBA, NAB, Westpac and Macquarie all recorded decent gains. Utilities were down 1.06% and consumer staples lost 1.09%, handing back most of yesterday's Woolworths-led gains.

The context: Earnings season continues tomorrow, with Wesfarmers, Mayne Pharma, Ardent Leisure and Pilbara Minerals to post results. Central bankers, finance ministers and other market participants will kick-off the Jackson Hole Economic Policy Symposium overnight. Investors are keenly awaiting a speech from Federal Reserve chair Jerome Powell, expected on day two (12:05am Saturday morning AEST), for an indication of liquidity conditions in the coming months.