Daily Market Update: 20 February 2026

Australian market extends rally

The S&P/ASX 200 Index (ASX: XJO) rose 79.20 points to 9086.20, marking its longest winning streak in over a month and closing just shy of its October record after touching a new intraday high of 9118.30. Investors looked through steady unemployment of 4.1 per cent, even as bond markets priced in the likelihood of a June rate increase from the Reserve Bank of Australia. Strong earnings momentum and resilient economic data underpinned sentiment, with more than 70 per cent of stocks finishing higher amid elevated reporting season volatility.

Earnings and sector movers

Financials led gains as rising rate expectations supported margins, with Westpac Banking Corporation (ASX: WBC) up 2.7 per cent, National Australia Bank Limited (ASX: NAB) up 2.4 per cent, Australia and New Zealand Banking Group Limited (ASX: ANZ) up 2.1 per cent and Commonwealth Bank of Australia (ASX: CBA) up 0.7 per cent, extending the sector’s 8 per cent monthly advance. Energy outperformed as oil climbed above $US70 per barrel, lifting Woodside Energy Group Ltd (ASX: WDS) 4.5 per cent, Santos Limited (ASX: STO) 5.6 per cent and Beach Energy Limited (ASX: BPT) 2.7 per cent, while BHP Group Limited (ASX: BHP) and Rio Tinto Group (ASX: RIO) gained ahead of Rio’s US$10 billion annual profit result. Standout winners included HUB24 Limited (ASX: HUB), Sonic Healthcare Limited (ASX: SHL), IPH Limited (ASX: IPH), NRW Holdings Limited (ASX: NWH) and Telstra Group Limited (ASX: TLS), while Zip Co Limited (ASX: ZIP), Lovisa Holdings Limited (ASX: LOV), Medibank Private Limited (ASX: MPL), Wesfarmers Limited (ASX: WES) and Lifestyle Communities Limited (ASX: LIC) posted notable declines.

Global markets ease on Fed signals

In the United States, the S&P 500 Index (INDEXSP: .INX) fell 0.3 per cent, the Nasdaq Composite Index (INDEXNASDAQ: .IXIC) declined 0.4 per cent and the Dow Jones Industrial Average (INDEXDJX: .DJI) lost 0.6 per cent after Federal Open Market Committee minutes suggested disinflation may take longer and rates could remain higher. Asset managers including Blue Owl Capital Inc. (NYSE: OWL), Blackstone Inc. (NYSE: BX) and Apollo Global Management Inc. (NYSE: APO) dropped sharply, while technology names such as Salesforce Inc. (NYSE: CRM), Intuit Inc. (NASDAQ: INTU) and Cadence Design Systems Inc. (NASDAQ: CDNS) also retreated. Bank of America Corporation (NYSE: BAC) and Wells Fargo & Company (NYSE: WFC) edged lower, Walmart Inc. (NYSE: WMT) slipped despite strong results, and Deere & Company (NYSE: DE) surged 11.6 per cent following earnings.