Sydney, Feb 24, 2026, 04:18 AEDT — Premarket
- ASX 200 futures suggested a muted open, following Monday’s drop.
- Tariff jitters hammered risk appetite, leaving banks and growth stocks absorbing most of the blow.
- Australia’s January inflation figures land Wednesday, and traders are on alert.
Australian shares looked likely to start lower Tuesday, as futures on the main index traded near 8,988—roughly 0.4% under Monday’s closing level. These contracts allow investors to take a view on the index ahead of the session’s open.
The S&P/ASX 200 slipped 55.4 points on Monday, losing 0.61% to finish at 9,026 as U.S. tariff uncertainty weighed on the market. After the U.S. Supreme Court blocked President Donald Trump’s emergency tariffs, Trump pivoted to a 10% global tariff and hinted at a possible 15% rate—though details on timing and coverage stayed murky. “Trump headlines equal volatility,” said Mark Gardener, CEO at MPC markets, but he noted that earnings could provide some support. Indo Premier
This matters right now because Australia’s market remains tilted—on one end, expensive growth stocks; on the other, commodity defensives. With trade policy shifting day by day, investors usually dump risk before sorting through the details, and the ASX stands out as a clear barometer of that impulse.
Resources stocks led gains on Monday as investors shifted into so-called “safe-haven” plays—assets considered more stable when markets get shaky. The Gold Sub-Index jumped 4.1%, outpacing a 1.2% lift for the broader resources index. Growth names didn’t fare well: information technology tumbled 4.5%, healthcare was down 2.4%. Megaport plunged 17.5%, Pro Medicus lost 8.9%, and both WiseTech Global and Technology One shed 5.2%. On the flip side, Reece surged 13.9% after surpassing EBIT forecasts. Nuix soared 15.1%, swinging to a profit. Losses included Austal, which fell 11.0%, and Lendlease, down 7.2%. Market Index
The Australian dollar slipped 0.2% late Monday to roughly 70.68 U.S. cents. Spot gold picked up 1.1%, landing at $5,159 an ounce. Brent crude eased 1.3%, trading at $70.84 a barrel. Bitcoin dropped 3.7%, changing hands at $65,080.
With reporting season in full swing, stocks are bouncing around, particularly when outlooks are vague or cash-flow hopes look shaky. All that turbulence can obscure the index’s broader direction—until one-sided selling hits the usual overowned names and the move gets magnified.
The risk cuts both ways. Should tariff rhetoric shift toward actual policy, or spark retaliatory moves, pressure could linger on banks and high-multiple stocks. And that so-called “safe-haven” move into gold names? It can snap back fast if it morphs into a momentum play.
Tuesday brings focus on whether resources can keep their early gains when the rest of the market gets going, and if tech’s slump drags down other growth areas that managed to stay afloat Monday.
Traders are watching Wednesday for the next big domestic signal, when the Australian Bureau of Statistics will publish January CPI data at 11:30 a.m. AEDT. This inflation print regularly shapes Reserve Bank of Australia policy forecasts.
For now, tariff news and upcoming earnings responses are set to drive market direction.
