Monday 16th February 2026
Daily Market Update: 16 February 2026
Australian market retreat despite weekly gain
The S&P/ASX 200 Index (ASX: XJO) fell 1.4 per cent, or 125.90 points, to 8917.60 on Friday, with nine of 11 sectors finishing lower, as concerns over artificial intelligence-driven disruption weighed on sentiment. Despite the decline, the benchmark index closed the week 2.4 per cent higher. The information technology sector has shed 23 per cent over the past month amid fears that artificial intelligence could compress software margins and undermine traditional SaaS models.
Technology and corporate updates weigh on sentiment
Technology stocks led losses, with WiseTech Global Limited (ASX: WTC) down 10.4 per cent to $42.62, Xero Limited (ASX: XRO) falling 4.5 per cent to $73.49, and TechnologyOne Limited (ASX: TNE) retreating 7.1 per cent to $20.17. Gold miners declined, including Northern Star Resources Limited (ASX: NST) down 3.5 per cent to $28.37, Newmont Corporation (ASX: NEM) 1.9 per cent lower to $169.12, and Genesis Minerals Limited (ASX: GMD) off 4.6 per cent to $6.87. The major banks saw profit-taking, with Commonwealth Bank of Australia (ASX: CBA) down 1.4 per cent, National Australia Bank Limited (ASX: NAB) 1.1 per cent lower and Westpac Banking Corporation (ASX: WBC) slipping 1.2 per cent, while Australia and New Zealand Banking Group Limited (ASX: ANZ) rose 1.3 per cent and AMP Limited (ASX: AMP) jumped 9 per cent. Among individual movers, Austal Limited (ASX: ASB) plunged 22.8 per cent after cutting earnings guidance, Cochlear Limited (ASX: COH) fell 18.9 per cent on weaker profit, Webjet Group Limited (ASX: WJL) tumbled 25.2 per cent following the end of takeover talks, GQG Partners Inc. (ASX: GQG) gained 7.8 per cent on higher funds under management, and Nick Scali Limited (ASX: NCK) dropped 22.3 per cent on softer regional sales.
Global markets steady amid AI and inflation focus
In the United States, the S&P 500 Index (NYSE: SPX) and the Dow Jones Industrial Average (NYSE: DJI) were little changed, while the Nasdaq Composite Index (NASDAQ: IXIC) rose 0.2 per cent, though all three major indices finished around 1.5 per cent lower for the week. A softer January inflation report reinforced expectations of multiple Federal Reserve rate cuts this year, but artificial intelligence-related volatility persisted. Semiconductor and megacap technology stocks, including NVIDIA Corporation (NASDAQ: NVDA), Apple Inc. (NASDAQ: AAPL), Alphabet Inc. (NASDAQ: GOOGL), Meta Platforms Inc. (NASDAQ: META) and Broadcom Inc. (NASDAQ: AVGO), remained under pressure, while Salesforce Inc. (NYSE: CRM) and Oracle Corporation (NYSE: ORCL) advanced. Applied Materials Inc. (NASDAQ: AMAT) and Arista Networks Inc. (NYSE: ANET) posted strong gains following upbeat earnings results.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -1.4 | 2.4 | 1.3 | 2.2 | 7.7 |
| Financials | -0.6 | 6.4 | 7.9 | 5.5 | 11.6 |
| Resources | -1.3 | 6.6 | 7.4 | 16.1 | 42.3 |
| Information Technology | -3.4 | -4.2 | -20.8 | -27.0 | -34.7 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.0 | -3.1 | -7.9 | -6.6 | 11.7 |
| Europe | -0.7 | -1.0 | -3.2 | -0.1 | 15.0 |
| Japan | -0.5 | 6.0 | 5.0 | 6.1 | 26.7 |
| China top 50 | -1.0 | -0.3 | -8.8 | -12.3 | 1.3 |
| India top 50 | -0.5 | -1.4 | -6.3 | -10.1 | -5.5 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.3 | 0.4 | 0.0 | -0.7 | 2.4 |
| Australian Corporate Bond | 0.2 | 0.4 | 0.1 | -0.4 | 3.3 |
| US Treasury | 0.5 | 0.6 | 0.9 | 0.9 | 5.8 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -1.5 | 0.1 | 2.2 | 10.3 | 53.4 |
| Silver | -7.5 | 9.5 | -8.8 | 42.3 | 123.9 |
| Crude Oil | -3.5 | -1.1 | 3.2 | 8.3 | -0.6 |
| Bitcoin | -0.7 | -0.7 | -30.4 | -37.2 | -36.5 |
