AU Morning Wrap | ASX 200 sets a new record high by surpassing 8,500 points; ZIP drops due to co-founder's exit

At the close of the US market, $S&P 500 Index (.SPX.US)$ increased by 0.24% to 6,047 and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.97% to 19,403. The $Dow Jones Industrial Average (.DJI.US)$ was down 0.29% to 44,782.

Australian shares continue their upward trends and have reached a new milestone, surpassing the 8,500 mark for the first time, driven by broad gains, particularly in consumer staples. Among the 11 sectors, 10 saw gains, with technology leading the way, benefiting from a rally in the Nasdaq, including a new peak for $Apple (AAPL.US)$.

As of latest data, $比特币(BTC.CC)$is priced at $95810.63, down 1.54% in the past 24 hours, while $以太坊(ETH.CC)$is priced at $3,644.31, down 1.69% in the past 24 hours.

Buy now, pay later company $Zip Co Ltd (ZIP.AU)$ dropped slightly following the announcement that co-founder Larry Diamond will step back to focus on charitable activities.

$Collins Foods Ltd (CKF.AU)$ fell 2.2% after the operator of KFC and Taco Bell revised its FY25 earnings guidance and dividend downward, citing a tough consumer environment and inflation affecting profit margins.

Supermarket giant $Woolworths Group Ltd (WOW.AU)$ gained 0.96%, despite anticipating a $50 million decrease in food sales due to a pay strike in progress.

$Steadfast Group Ltd (SDF.AU)$, a insurance broker, rose 2% after an internal review found no evidence of improper incentives or compliance issues.