Australia's share market is sputtering towards an anaemic final session of the week, with investors holding back on a quiet macroeconomic news day.
The S&P/ASX200 fell 9.6 points by midday, down 0.11 per cent, to 8.628, as the broader All Ordinaries gained 16 points, or 0.19 per cent, to 8.923.3.
The modest move tracked with a subtle Wall Street session, after US jobs data muddied the outlook for Federal Reserve interest rate cuts in 2026.
"The markets are in a holding pattern heading into the (Federal Reserve) decision next week," Capital.com senior market analyst Kyle Rodda said.
"Price action is choppy and there remains a modest bullish bias in the market."
Five of 11 local sectors traded lower by midday, with IT stocks outperforming the market with a one per cent gain, while the heavyweight financials and raw materials sectors were up and down 0.1 per cent, respectively.
Data centre company NextDC rocketed more than six per cent higher after announcing a memorandum of understanding with ChatGPT owner OpenAI, beating out the top 200 stocks.
Rio Tinto shares dropped almost three per cent, despite a broadly positive investor update on rising copper production guidance and easing per-unit costs.
Gold stocks rebounded after a weak session on Thursday, as spot gold edged up to $US4,200 ($A6,355) an ounce, helping Evolution and Newmont rebound more than two per cent each.
Northern Star notched a more muted 0.6 per cent improvement to $26.25 as it updated shareholders on a planned $225 million exploration spend for 2026.
Battery minerals and rare earth stock plays also bounced from the previous session's sell-off, led by a more than seven per cent rally in Liontown shares.
Shares in the Gina Rinehart-backed Arafura Rare Earths edged 0.9 per cent higher to 27 cents, ahead of a shareholder meeting to vote on a $50-70 million share purchase plan.
Energy stocks traded 0.1 per cent lower, tracking modest slips in Woodside and Santos, as oil prices continued to consolidate in a tight range.
Coal producers were mixed while uranium plays resumed their uptrend, sparked by China National Uranium Corporation's Shenzhen Stock Exchange listing earlier in the week.
Westpac was the best of the big four banks with a 0.8 per cent gain to $37.98, while CBA edged 0.2 per cent higher to $153.46.
Major insurers Suncorp, IAG and QBE dipped as heatwave warnings were issued in multiple states.
IAG also announced Phillip Gibson will replace Amanda Whiting as the group's New Zealand chief executive in March, subject to approvals.
Premier Investments was the worst performer in the top 200 stocks, plummeting 13 per cent after its sales guidance missed the market consensus.
The Australian dollar is buying 66.11 US cents, on par with Thursday at 5pm.
