The local market surged for a second straight day, lifting 1% to a two-week high. Sentiment was bolstered by a record lead from Wall Street and fresh optimism for a US-Iran peace deal. With President Trump claiming a truce is "very possible," oil prices tumbled 7% back toward 100 USD, providing broad market relief. Mining stocks led the charge, jumping 3.7%, while Orica rocketed 8% on a narrowed loss and dividend hike. Conversely, Tabcorp cratered 23% following regulatory concerns, and Super Retail Group fell 3.5% after warning that "War Fatigue" and high fuel costs have dented discretionary spending.

Steve Daghlian and Laura Besarati are Market Analysts at CommSec. Each episode, they break down the day's market movements and explain what the numbers really mean.

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