Sunday 1st March 2026
Daily Market Update: 02 March 2026
Australian market records strongest monthly gain since May
The S&P/ASX 200 Index (ASX: XJO) advanced 23.3 points to 9198.6, up 0.3 per cent for the session and securing a record close, as investors wrapped up a volatile reporting season. The benchmark rose 3.7 per cent in February, marking its third straight monthly gain and strongest performance in 10 months. Consumer staples underperformed, with Coles Group Limited (ASX: COL) tumbling 7.4 per cent to $20.56 after reporting weaker-than-expected first-half sales growth, particularly in liquor, while Woolworths Group Limited (ASX: WOW) eased 1 per cent to $36 amid profit taking following its recent rally.
Rare earths and technology stocks lift materials and communications
Gains were led by communication services and materials stocks, with REA Group Limited (ASX: REA) rising 3.6 per cent to $166.39. Rare earth producers rallied after a major offshore supply agreement, driving Lynas Rare Earths Limited (ASX: LYC) up 10.1 per cent to $18.98 and Iluka Resources Limited (ASX: ILU) 9.1 per cent higher to $6.75. Block, Inc. (ASX: SQ2) surged 27.8 per cent to $94.15 after announcing plans to cut 4,000 roles and reporting a 17 per cent lift in gross profit to US$10.36 billion. Among other movers, Bapcor Limited (ASX: BAP) plunged 49.3 per cent following a discounted capital raising, Harvey Norman Holdings Limited (ASX: HVN) fell 9 per cent on weaker domestic sales, while PEXA Group Limited (ASX: PXA) gained 4.7 per cent after delivering stronger-than-expected core profit.
US markets retreat as inflation and tech weakness weigh
In the United States, the S&P 500 Index (NYSE: SPX) and the Nasdaq Composite Index (NASDAQ: IXIC) each declined 0.4 per cent, while the Dow Jones Industrial Average (NYSE: DJI) fell 1.1 per cent as stronger-than-expected inflation data clouded the outlook for Federal Reserve rate cuts. Technology stocks were pressured, with NVIDIA Corporation (NASDAQ: NVDA) down 4.1 per cent and CoreWeave, Inc. (NASDAQ: CRWV) sliding 18.6 per cent on disappointing guidance, although Dell Technologies Inc. (NYSE: DELL) jumped 21.8 per cent on robust AI server demand and a sizeable buyback plan. Despite volatility, February recorded US$233.3 billion in corporate buyback authorisations, providing support for large-cap equities.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.3 | 1.2 | 3.0 | 7.1 | 15.9 |
| Financials | -0.5 | -1.0 | 9.7 | 11.1 | 19.0 |
| Resources | 1.5 | 5.8 | 7.3 | 24.7 | 58.3 |
| Information Technology | 2.5 | 0.7 | -16.0 | -23.1 | -23.9 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -0.4 | -0.2 | -2.8 | -6.4 | 14.7 |
| Europe | 0.1 | 0.3 | 0.2 | 3.3 | 14.4 |
| Japan | 1.1 | 1.1 | 4.9 | 6.0 | 22.9 |
| China top 50 | -0.4 | -2.0 | -8.1 | -12.1 | -4.4 |
| India top 50 | -0.5 | -0.4 | 0.0 | -11.4 | -4.7 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.3 | 0.2 | 1.0 | -0.1 | 2.1 |
| Australian Corporate Bond | 0.2 | 0.2 | 0.9 | 0.1 | 2.8 |
| US Treasury | 0.4 | 0.2 | 1.2 | 0.8 | 4.4 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -0.1 | 2.0 | 0.1 | 14.4 | 59.0 |
| Silver | -0.1 | 7.1 | -24.0 | 48.8 | 142.0 |
| Crude Oil | -0.5 | -1.9 | 4.9 | 12.7 | 4.9 |
| Bitcoin | -0.3 | -2.8 | -26.5 | -33.4 | -31.7 |
