ASX on Watch as Inflation Test Looms After Volatile Week

Australian stocks edged down on Friday, with the S&P/ASX 200 dropping 4.8 points to 9,081.4. Still, the index wrapped the week up 1.8%—hovering right below Thursday’s record high of 9,118.3. Banks gained 0.7% while miners slipped 0.7%, dragged lower as Rio Tinto tumbled 3.1%. “All the major banks have now reported, and most delivered results ahead of consensus,” said Philip Pepe, senior equities analyst at Shaw and Partners, countering the “ex-growth” label critics have pinned on the sector, a term suggesting it’s out of earnings momentum.