Daily Market Update: 19 June 2026

Australian shares slide as Fed signals possible rate rise

The Australian sharemarket fell on Thursday after US Federal Reserve policymakers signalled a potential rate increase later this year, pressuring metals prices and dragging mining stocks lower. The S&P/ASX 200 Index (INDEXASX: XJO) dropped 55.2 points, or 0.6 per cent, to 8911.1, with seven of the 11 sectors finishing in the red after a choppy session in which early gains were quickly eroded. The retreat followed a weaker lead from Wall Street, where money markets moved to price in a rate rise by October, lifting bond yields and weighing on rate-sensitive sectors across the local bourse.

Miners and tech lead losses, banks mixed

Gold miners were sold off, with Ora Banda Mining Limited (ASX: OBM) down 7.5 per cent to $1.29, Pantoro Gold Limited (ASX: PNR) 6.7 per cent to $2.85 and Northern Star Resources Limited (ASX: NST) 1.6 per cent to $21.50. Iron ore’s slide to about $US99 a tonne sent BHP Group Limited (ASX: BHP) down 0.8 per cent to $65.04 and Fortescue Limited (ASX: FMG) 1.7 per cent to $19.97, while WiseTech Global Limited (ASX: WTC) fell 3.4 per cent and Xero Limited (ASX: XRO) 3.9 per cent. Woodside Energy Group Limited (ASX: WDS) lost 1.2 per cent as Brent crude dropped 2.8 per cent. Banks were mixed. In company news, Lifestyle Communities Limited (ASX: LIC) soared 9.8 per cent on accelerating sales, Washington H. Soul Pattinson and Company Limited (ASX: SOL) rose 0.8 per cent after agreeing to sell Brickworks Limited (ASX: BKW) property-trust stakes to Goodman Group (ASX: GMG) for $1.89 billion, and Challenger Limited (ASX: CGF) added 1 per cent on a Fidante merger.

Wall Street rebounds as chipmakers extend rally

US equities rebounded as chip producers rallied and markets reconsidered the risk of a Fed hike. The S&P 500 Index rose 1 per cent, the Nasdaq 100 Index advanced 2.3 per cent and the Dow Jones Industrial Average added 300 points to test a record high. The Fed held rates steady, with half the FOMC projecting at least one hike this year. Intel Corporation (NASDAQ: INTC) surged more than 10 per cent after President Donald Trump cited a deal with Apple Inc (NASDAQ: AAPL), while Micron Technology Inc (NASDAQ: MU) rose 8 per cent, NVIDIA Corporation (NASDAQ: NVDA) 2 per cent, and Advanced Micro Devices Inc (NASDAQ: AMD) and Broadcom Inc (NASDAQ: AVGO) over 4 per cent.