Daily Market Update: 19 March 2026

ASX (ASX:XJO) edges higher ahead of Fed decision; BHP (ASX:BHP) and Woodside (ASX:WDS) name new CEOs

The Australian sharemarket rose on Wednesday as investors positioned ahead of the US Federal Reserve’s interest rate decision overnight. The S&P/ASX 200 added 16.8 points, or 0.2 per cent, to 8,631.1 with seven of the 11 sectors higher. With the Fed expected to hold rates steady, the focus will be on how policymakers balance growth and inflation risks amid the Iran war. Rate-sensitive tech stocks led the gains – NextDC (ASX:NXT) added 2.9 per cent and Xero (ASX:XRO)2.2 per cent – while Goodman Group (ASX:GMG) rose 2.1 per cent. Energy held firm despite Brent easing 1 per cent to US$102.37, with the Strait of Hormuz still largely shut – Ampol (ASX:ALD) climbed 2.4 per cent and Santos (ASX:STO) 0.7 per cent. Woodside (ASX:WDS) rose 0.7 per cent after formalising Liz Westcott as chief executive, while BHP (ASX:BHP) gained 0.4 per cent after appointing Brandon Craig as its next CEO from July 1, replacing Mike Henry after six and a half years. Gold miners fell as bullion traded below US$5,000 – Westgold (ASX:WGX) dropped 3.6 per cent, Genesis Minerals (ASX:GMD) and Ramelius Resources (ASX:RMS) each 2.1 per cent. Banks were mixed after passing on Tuesday’s rate rise to mortgage holders – CBA (ASX:CBA) added 0.2 per cent but ANZ (ASX:ANZ) fell 1.4 per cent after Goldman Sachs cut it to neutral.

Sims (ASX:SGM) surges on strong earnings guidance; ARN Media (ASX:A1N) dumps Kyle Sandilands

In company news, Sims (ASX:SGM) surged 8.5 per cent after forecasting full-year underlying EBIT of $350–400 million, supported by strong non-ferrous metal prices and a buoyant memory chip market. Humm (ASX:HUM) rallied 6.1 per cent after the Takeovers Panel declared unacceptable circumstances over misleading statements to investors on a proposed takeover by Credit Corp (ASX:CCP). Macquarie Group (ASX:MQG) climbed 1.3 per cent after Reuters reported it had pulled out of the race for a stake in Kuwait’s oil pipeline network valued at up to US$7 billion, becoming one of the first investors to step back from a Gulf deal amid the Iran war. ARN Media (ASX:A1N) was flat after terminating its contract with Kyle Sandilands and Quasar Media Services, ending the long-running Kyle and Jackie O Show. On the downside, Novonix (ASX:NVX) dropped 5.5 per cent after Nasdaq warned it was not complying with the exchange’s minimum closing price requirement.

Wall Street drops as Fed holds rates but flags inflation risk from Iran war; S&P 500 posts worst Fed day since 2024

Wall Street fell sharply on Wednesday as surging oil prices and Federal Reserve Chair Jerome Powell’s cautious tone on inflation rattled investors. The S&P 500 dropped 1.4 per cent in its worst Fed decision day since 2024, with about 420 of its constituents retreating. The Fed held rates steady at 3.5–3.75 per cent in an 11-1 vote – Governor Stephen Miran was the sole dissent, calling for a quarter-point cut – while raising its 2026 inflation forecast to 2.7 per cent from 2.4 per cent. Powell said it was important to keep rates mildly restrictive, noting that progress on reducing inflation would be needed before any cuts. Traders are now pricing in only about 15 basis points of easing this year – less than one full quarter-point cut. Markets were further rattled as Iran and Israel traded strikes on key Gulf energy facilities, with a major LNG export complex suffering extensive damage and Brent crude hovering near US$110. Two-year Treasury yields jumped 10 basis points to 3.77 per cent and the dollar rose. In corporate news, Micron Technology (NYSE:MU) offered a positive forecast as surging memory chip prices bolstered its outlook, while AI drone software maker Swarmer Inc. surged 1,000 per cent in two days in the best US stock debut in nearly a year.