To The Moon

The Australian sharemarket fell on Friday as fears of AI-driven overinvestment and disruption to software companies triggered broad selling. The S&P/ASX 200 Index dropped 125.90 points, or 1.4%, to 8917.60, with nine of the 11 sectors lower. The benchmark gained 2.4% for the week. Concerns that AI could erode software companies’ margins have seen the ASX tech sector shed 23% of its value over the past month. WiseTech Global fell 10.4% to $42.62 on Friday, Xero by 4.5% to $73.49, and TechnologyOne 7.1% to $20.17. Morningstar market strategist Lochlan Halloway said the so-called “SaaSpocalypse” has been building for months, with AI threatening every variable in the SaaS model: seats, modules, and price. “Some software companies, particularly those selling commoditised tools with shallow

The Australian sharemarket fell at Friday’s open, hit by renewed fears of AI overinvestment and disruption, while steep declines in gold and silver added to the selling pressure. The S&P/ASX 200 Index dropped 60.60 points, or 0.7% to 8982.90 at 10.15am AEDT, with eight of the 11 sectors off. The benchmark however remains up 3.1% for the week, which would be its strongest since April. Gold fell as much as 4.1%, while silver plunged 11% and copper by 2.9% before paring some losses as concerns about AI spurred a selloff across financial markets. Capital.com senior market analyst Kyle Rodda said that the deleveraging and repositioning that began with the gold and silver melt down probably hasn’t played-out entirely, causing cross asset weakness and volatility. “The narrative here is about

The Australian sharemarket rose for a second day on Thursday, as ANZ delivered its best session in nearly six years after reporting a $1.94 billion first-quarter cash profit that smashed market expectations. The S&P/ASX 200 Index hit an intraday high of 9105 – near its 52-week best of 9115.20, but heavy selling of software stocks late on Thursday on renewed AI fears saw it finish up just 28.70 points, or 0.3%, at 9043.50. Four of the 11 sectors were stronger. Financials rallied for a second consecutive session as ANZ jumped 8.5% to a record $40.35 as the pace of restructuring by chief executive Nuno Matos took the market by surprise. ANZ’s cash profit for its first quarter rose 6%, driven by cost savings from thousands of staff layoffs. Commonwealth Bank rose a further 5.4% to $178.74

The Australian sharemarket opened at higher on Thursday after ANZ smashed market expectations with a $1.94 billion cash profit in the December quarter. The S&P/ASX 200 Index rose 40 points, or 0.4% to 9054.80 at 10.13am AEDT. ANZ soared 7.4% in the opening minutes after cost-cutting helped lift its profits over the latest quarter, up 17% on average of the two previous quarters, to $1.94 billion. The result was ahead of market expectations by 8%. “A positive trading update for ANZ with good progress on costs. We expect that the result will be well received given the progress on strategy and signs that the improving macro environment is being experienced broadly across the sector,” Citi analyst Thomas Strong said. Commonwealth Bank rose a further 1.1% after its best trading session since

The Australian sharemarket rallied on Wednesday, lifted by strong earnings beats from major index heavyweights, including Commonwealth Bank, that helped offset a plunge in CSL’s share price. The S&P/ASX 200 Index climbed 1.7%, or 147.40 points, to 9014.80, putting 1.1% off its record high of 9115.20 set in October. Eight of the 11 sectors were trading higher. Gains came after the dollar hit a three-year high as it rose above US71¢. Financials buoyed the market as Commonwealth Bank jumped 6.8% to $169.56, its biggest one-day gain since its 10.9% rally in March 2020. That’s after cash profit for Australia’s largest lender came in $200 million ahead of market expectations for the half year, while its interim dividend at $2.35 topped market consensus for $2.31. National Australia Bank adde

The Australian sharemarket opened higher on Wednesday as Commonwealth Bank rallied following a stronger-than-expected interim dividend and cash profit of $5.4 billion, offsetting heavy selling of CSL. The S&P/ASX 200 Index rose 0.5%, or by 41.60 points, to 8909 at 10.11am AEDT, with five of the 11 sectors up. Moomoo Australia dealing manager Chris Strazzeri said that a heavy slew of results released could determine whether markets break out of their current holding pattern, as traders looked to be range-bound and selective rather than directional. “Softness in metals may weigh on resources, while mixed global equity signals suggest limited upside for growth stocks, keeping investors cautious as they wait for clearer leads.” Financials were the strongest sector as Commonwealth Bank jump

The Australian sharemarket rose on Tuesday as a recovery in technology and uranium stocks gathered momentum after last week’s sell-off from concerns over massive spending on artificial intelligence. The S&P/ASX 200 Index added 16.80 points, or 0.2%, to 8886.9. Nine of the 11 sectors were trading in the black, led by tech. The Australian dollar was also higher as it consolidated around US70.80¢ after rising to a three-year high of US70.98¢, buoyed by a falling US currency and a global rally in equities. Technology was the strongest sector as data centre operator NextDC jumped 3.4% to $13.78, Megaport 2.6% to $11.12 and Xero by 2.2% to $84.76. Uranium miners saw strong gains after heavy selling last week on fears that AI demand would not trigger a boom in nuclear power. Paladin rose 5.5%

The Australian sharemarket opened higher on Tuesday, extending its biggest one-day gain since April last year, as miners were supported by rising silver and gold prices. The S&P/ASX 200 Index added 52.80 points, or 0.6% to 8922.90 at 10.10am AEDT, with 10 of the 11 sectors stronger. The benchmark is now closing in on a three-month high as the Australian dollar rose 1% to US70.98¢ on Monday, the highest level in two years, buoyed by a falling US currency and a global rally in equities. Materials were the strongest as gold rose 0.3% to $US5074.30 at the open, and silver by 0.6% to $US83.89. Northern Star rose 1.8%, Newmont 2.3% and South32 2.6%. Uranium miners were back after heavy selling last week on fears that AI may not spark a boom in nuclear power. Paladin rose 3%, Deep Yellow 5.9%

The Australian sharemarket rose the most since US President Donald Trump’s “liberation day” as broad advances across risk assets took hold as bargain hunters returned to technology and gold stocks. The S&P/ASX 200 Index climbed 161.30 points, or 1.9%, to 8870.10 – the biggest rise since April 8, when stocks rose 2.3%, and follows Friday’s 2% slide that wiped about $65 billion from the market in the sharpest fall since April 7, 2025. IG market analyst Tony Sycamore said that the Australian market remained driven by offshore events with a strong PMI reading from the US on Friday helping to snap market jitters, while the re-election of Japanese Prime Minister Sanae Takaichi further added to sentiment. “The Japanese LDP coalition securing a super majority paves the way for the Prime Minist

The Australian sharemarket bounced on Monday from its worst one-day loss since US President Donald Trump’s “liberation day”, after $65 billion was wiped from the market on Friday, with investors snapping up technology and mining stocks. The S&P/ASX 200 Index rose 132.20 points, or by 1.5% to 8841 at 10.10am AEDT, with all 11 sectors up. It comes after Friday’s pullback of 2%, driven by sliding commodity prices, concerns about AI and a dive in bitcoin triggered broad equity derisking. After falling nearly 13% last week on concerns artificial intelligence capex, the ASX tech sector had a strong start to Monday on dip buying as WiseTech Global rallied 4.6%, NextDC 4.8% and TechnologyOne 4.9%. Miners were buoyed by a rebound in commodity prices with gold up 4% towards $US5000 an ounce and