Daily Market Update: 17 June 2026

Sharemarket recovers as RBA holds rates steady

The Australian sharemarket clawed back its earlier losses on Tuesday after the Reserve Bank of Australia kept interest rates on hold at 4.35 per cent in a unanimous decision. The S&P/ASX 200 Index (INDEXASX: XJO) finished up 3.7 points to close at a two-month high of 8917.70, having fallen to a low of 8834 earlier in the session, with five of the 11 sectors closing higher. The central bank said the decision did “not rule out” further increases if needed to return inflation to target, flagging upside risks. Bond yields eased modestly and the Australian dollar held at US70.54¢, with the three-year and 10-year yields each down 1 basis point.

Energy and financials lift, tech slides on hawkish RBA

Energy advanced as bargain hunters bought in despite oil falling below US$83 a barrel on US-Iran peace optimism, with Woodside Energy Group Ltd (ASX: WDS) up 2 per cent to $30.04 and Santos Ltd (ASX: STO) up 0.8 per cent to $7.45. Financials also rose, led by Commonwealth Bank of Australia (ASX: CBA) up 0.1 per cent to $161.88, National Australia Bank Ltd (ASX: NAB) up 1.2 per cent to $37.89, Westpac Banking Corporation (ASX: WBC) up 1.2 per cent to $35.75 and Australia and New Zealand Banking Group Ltd (ASX: ANZ) up 0.9 per cent to $34.81. The RBA’s hawkish tone weighed on rate-sensitive retail and tech, with Wesfarmers Ltd (ASX: WES) down 1.1 per cent to $85.26, JB Hi-Fi Ltd (ASX: JBH) off 0.3 per cent to $78.25, WiseTech Global Ltd (ASX: WTC) down 4.2 per cent to $36.79 and TechnologyOne Ltd (ASX: TNE) down 2 per cent to $30.76. BHP Group Ltd (ASX: BHP) added 1¢ to a record $65.19 in a mixed mining session as gold miners soared and base-metal names declined.

Global markets wrap

US equities closed mixed on Tuesday amid a pullback in AI-related stocks, with the S&P 500 down 0.6 per cent and the Nasdaq Composite off 1.2 per cent as investors took profits in semiconductors after their recent rally. Nvidia Corporation fell 2.4 per cent, Broadcom Inc (NASDAQ: AVGO) 4.4 per cent, Micron Technology Inc (NASDAQ: MU) 6.2 per cent, Advanced Micro Devices Inc (NASDAQ: AMD) 7.3 per cent and Intel Corporation (NASDAQ: INTC) 8.5 per cent. In contrast, SpaceX (NASDAQ: SPCX) gained 4.8 per cent, extending its advance since Friday’s IPO, after reports it would acquire Cursor for $60 billion. The Dow Jones Industrial Average (INDEXDJX: .DJI) rose 328 points to a new high, supported by optimism around the preliminary US-Iran agreement, which both countries are expected to sign on Friday, with US officials stating the Strait of Hormuz will reopen.