The benchmark S&P/ASX200 index was up six points, or 0.07 per cent, to 8,923.6 at midday on Monday, after being up as much as 0.39 per cent in the first half-hour of trading.
The broader All Ordinaries was 10.3 points, or 0.11 per cent, higher at 9,149.3.
Over the weekend, a cooler-than-expected US inflation readout was seen as increasing the chances that the Federal Reserve would cut interest rates three times in 2026, rather than twice.
Eight of the ASX's 11 sectors were higher at midday, with materials, financials and utilities lower.
The tech sector was the biggest gainer, climbing 4.7 per cent after a punishing few weeks amid fears that artificial intelligence could disrupt their business models.
Xero had bounced back by 6.7 per cent, Wisetech Global had climbed 9.5 per cent, Life360 had grown 6.0 per cent and Appen was up 5.0 per cent.
The consumer discretionary sector had lifted 2.2 per cent after JB Hi-Fi reported a 7.3 per cent lift in first-half sales and an 8.1 per cent rise in earnings.
"In a retail environment where customers are seeking value, our brands continue to resonate strongly," said chief executive Nick Wells.
Harvey Norman had gained 2.2 per cent, Eagers Automotive was up 1.8 per cent, Lovisa had risen 2.2 per cent and pokies manufacturer Light & Wonder had added 8.4 per cent.
On the flip side, Treasury Wine Estates was the worst performer in the ASX200 at midday, falling 6.9 per cent to a two-month low of $4.875 after the Penfolds owner scrapped its dividend while reporting a statutory loss of $649.4 million following poor sales in the US and China.
A2Milk was up 4.3 per cent after the Kiwi milk-seller lifted its full-year guidance following a strong first half, including a 19.6 per cent rise in underlying profit.
In the heavyweight mining sector, Rio Tinto had slid 5.0 per cent to a one-week low of $161.19 after a weekend fatality at its Simandou iron ore project in the West African nation of Guinea led to a halt in its operations there.
BHP was down 2.0 per cent, Fortescue had fallen 4.2 per cent and Mineral Resources had dropped 2.2 per cent.
Goldminers were higher, however, as the precious metal traded around $US5,047 an ounce. Northern Star had advanced 2.3 per cent and Newmont had added 4.6 per cent.
Elsewhere in the sector, BlueScope Steel was down 1.8 per cent as the nation's largest steelmaker reported a half-year net profit of $391 million, more than double the number from a year ago.
The big four banks were mixed, with ANZ down 2.1 per cent and NAB dipping 1.1 per cent, while CBA had added 0.5 per cent and Westpac had advanced 0.2 per cent.
Bendigo and Adelaide Bank had dropped 2.7 per cent after the regional bank reported $256.4 million in half-year cash earnings, down 3.3 per cent from a year ago.Â
Eighty different ASX-listed companies will report earnings this week, one of the busiest stretches of the earnings season.
The Australian dollar was trading for 70.82 US cents, up from 70.68 US cents around 5pm on Friday.
