Information technology stocks advanced over 2% at midday Friday.

According to data released on Thursday, the overall consumer price index in the US increased at a 2.7% annualized rate in November, boosting hopes of a rate cut in the US.

WiseTech Global (ASX:WTC) said that the board review into matters relating to its cofounder and current Executive Chair, Richard White, was completed. The review found that the allegations that the firm's funds were inappropriately used by White in relation to certain individuals were not supported by evidence.

However, the materials sector declined nearly 1%.

Nova Minerals (ASX:NVA), whose shares fell over 11%, said an underwritten public offering of 2.9 million American depository shares (ADS), with an ADS-to-ordinary-share ratio of one-to-12, at a price to the public of $6.83 per ADS, for gross proceeds of around $20 million.

The 35.1 million ordinary shares, which are represented by the 2.9 million ADS, will be issued using its existing placement capacity under the ASX listing rules. It plans to use the proceeds for planned exploration and development activities on its Estelle gold and critical minerals project in Alaska.