Australia's stock market is poised for a robust recovery, potentially ending its longest losing streak in eight years. Ahead of Friday's opening, local index futures climbed 1.5%, signaling that the S&P/ASX 200 Index may halt an eight-day consecutive decline and could even recover the 1.4% loss accumulated so far this week. The benchmark index has been under pressure due to rising inflation and growing expectations that the central bank will implement further interest rate hikes. Before the market opened, ANZ Bank reported an increase in its first-half profit but also cautioned that the most significant economic impact from the conflict involving Iran might still lie ahead. Qantas Airways announced it would extend adjustments to its flight schedule due to persistently high fuel costs. Meanwhile, supermarket operator Coles indicated it is grappling with increased expenses for fuel, freight, and packaging.