The ASX 200 surged out of the gates on Tuesday, steadily building on its early gains to finish up +1.1%, helped by broad-based buying with close to 90% of the market’s main board closing higher. The financials took over the baton from the miners in terms of market gains, but only just; the banks & Co added 34 points while the materials sector added 33 points, and importantly, there were no major groups that weighed on the index
The ASX finished at a two-month high this afternoon as a broad-based rebound in global equities and falling oil prices lifted sentiment. Wall Street had its strongest session since April overnight, with the market swarming back to technology stocks after last week’s sharp sell-off, just as easing crude prices helped take some of the pressure off inflation and interest-rate concerns.
The ASX 200 had a choppy Monday before finally closing up just +0.1%, despite the losers just nudging the number of winners. Fortunately, from an index perspective, the materials sector (+2.9%) carries more weight than the financials (-1.1%).
Australian shares managed a modest gain after a choppy session as a rebound in miners and technology helped offset pressure on banks and property stocks, with the market still navigating the fallout from last week’s sharp AI-led sell-off on Wall Street. ANZ was the major drag after a softer full-year result which triggered selling across the Big Four, while gold and copper strength supported a recovery across parts of the resources sector.
The storming victory by the Democrats in the US, taking both the House and Senate, was largely expected, although the emphatic nature of the result surprised many. It led to investors reassessing the risks around the AI infrastructure buildout - the “picks and shovels trade” was literally hammered.
The RBA and US midterms drove a volatile week for the ASX 200, which ultimately finished up a solid 1.3%. Not a bad result, given the uncertainty sweeping through some sectors after the ‘blue wave’ of discontent washed through the US. Except for the energy sector, most pockets of the ASX contributed to the market’s close back above the psychological 9000 level, with a 10% gain by the software names, the standout.
Aussie shares finished lower as Wall Street’s AI sell-off spilled into global markets, with miners and technology stocks bearing the brunt of fears around tighter data centre regulation and a potential slowdown in infrastructure spending.
A huge day for Aussie equities, with the ASX bouncing strongly following the US mid-term elections, a pullback in oil and lower bond yields. Technology led the charge, surging around 10%, while Materials ripped 7.5% higher - 8 of the 11 sectors finishing in the green. Energy and Financials were the notable laggards. Energy weakness was understandable as oil prices cooled, while NAB’s soft FY26 result was enough to put the kibosh on the banks, making the broader market move even more impressive.
The ASX 200 followed the US futures aggressively lower on Wednesday as it became clear that President Trump and the Republicans had lost control of both the Senate and House; the bookies got it correct.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Something went wrong. Please try again in a moment.
You're trying to view member-only content
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
