Daily Market Update: 15 May 2026

ASX rebounds as banks stabilise

S&P/ASX 200 Index (ASX: XJO) snapped its losing streak on Thursday, rising 10.30 points, or 0.1 per cent, to 8640.70 after recovering from an intraday low. Financials led the market, with Commonwealth Bank of Australia (ASX: CBA) rebounding 1.8 per cent to $156.42 after its record 10.4 per cent fall the previous session. Australia and New Zealand Banking Group Limited (ASX: ANZ) gained 0.8 per cent, Westpac Banking Corporation (ASX: WBC) rose 0.4 per cent, National Australia Bank Limited (ASX: NAB) declined 1.2 per cent and Macquarie Group Limited (ASX: MQG) advanced 3.3 per cent. Materials were mixed, although BHP Group Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed at record highs, supported by strength in copper and iron ore, while Fortescue Ltd (ASX: FMG) added 2.1 per cent.

Megaport jumps as company updates drive stock moves

Technology and consumer staples were weaker, with software names pressured by renewed artificial intelligence concerns after Anthropic PBC (Private) launched Claude for Small Business. Xero Limited (ASX: XRO) fell 9 per cent after reporting full-year net profit of $NZ167.4 million, while WiseTech Global Limited (ASX: WTC) declined 4.8 per cent. Megaport Limited (ASX: MP1) surged 27.7 per cent after securing $254 million in long-term contracts, which UBS Group AG (SWX: UBS) said could support earnings upgrades. Coles Group Limited (ASX: COL) dropped 2.2 per cent after an adverse Federal Court ruling on discount pricing, while Woolworths Group Limited (ASX: WOW) fell 1.3 per cent. ASX Limited (ASX: ASX) rose 2.1 per cent after appointing Anthony Attia as chief executive, GrainCorp Limited (ASX: GNC) fell 13.5 per cent on weaker first-half profit, Bapcor Limited (ASX: BAP) tumbled 18.5 per cent after cutting guidance, and Worley Limited (ASX: WOR) gained 2.3 per cent after announcing a $300 million buyback.

AI optimism lifts Wall Street to records

US equities rallied toward fresh highs on Thursday, supported by artificial intelligence-linked stocks and optimism around US-China talks in Beijing. The S&P 500 Index (INDEX: SPX) climbed 0.8 per cent to move above 7,500 for the first time, while the Nasdaq Composite Index (NASDAQ: IXIC) rose 0.9 per cent to a record 26,635 and the Dow Jones Industrial Average (INDEXDJX: DJI) added 0.75 per cent, crossing 50,000 for the first time since February. Cisco Systems, Inc. (NASDAQ: CSCO) jumped 13.4 per cent after upgrading its revenue and earnings outlook, while NVIDIA Corporation (NASDAQ: NVDA) rose 4.4 per cent after the US cleared 10 Chinese firms to receive H200 chips. Market sentiment was further supported by comments from US Treasury Secretary Scott Bessent that the US and China were exploring faster approvals for selected Chinese investment deals and possible tariff reductions on non-critical goods.