The Australian stock market is modestly higher on Tuesday, snapping a three-session losing streak, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,950 level, with gains in iron ore miners and technology stocks partially offset by weakness in energy stocks.
The benchmark S&P/ASX 200 Index is gaining 19.00 points or 0.21 percent to 8,972.30, after touching a high of 8,976.10 earlier. The broader All Ordinaries Index is up 25.30 points or 0.28 percent to 9,199.40. Australian stocks ended slightly lower on Monday.
Among the major miners, BHP Group and Rio Tinto are edging up 0.1 to 0.2 percent each, while Mineral Resources is adding more than 1 percent. Fortescue is edging down 0.2 percent.
Oil stocks are weak. Woodside Energy, Beach energy and Santos are losing almost 1 percent each, while Origin Energy is edging down 0.3 percent.
Among tech stocks, Afterpay owner Block and WiseTech Global are gaining more than 3 percent each, while Xero is adding more than 2 percent, Zip is advancing almost 4 percent and Appen is surging almost 6 percent.
Gold miners are mixed. Evolution Mining is losing almost 2 percent and Northern Star resources is down almost 1 percent, while Newmont and Genesis Minerals are edging up 0.1 to 0.2 percent each. Resolute Mining is flat.
Among the big four banks, Westpac is edging down 0.1 percent, while National Australia Bank and ANZ Banking are edging up 0.2 to 0.3 percent each. Commonwealth Bank is flat.
In the currency market, the Aussie dollar is trading at $0.717 on Tuesday.
On Wall Street, stocks saw a modest pullback during trading on Monday following the substantial rally seen last week. The major averages all moved to the downside, although selling pressure was relatively subdued.
The major averages finished the day well off their lows of the session but still in the red. The Nasdaq fell 64.09 points or 0.3 percent to 24,404.39, the S&P 500 dipped 16.92 points or 0.2 percent to 7,109.14 and the Dow edged down 4.87 points or less than a tenth of a percent to 49,442.56.
The major European markets also moved to the downside on the day. While the U.K.'s FTSE 100 Index slid by 0.6 percent, the French CAC 40 Index and the German DAX Index slumped by 1.1 percent and 1.2 percent, respectively.
Crude oil prices skyrocketed on Monday after the U.S. seized an Iranian cargo ship and Iran vowed to retaliate, renewing supply-related concerns. West Texas Intermediate crude for May delivery was up $5.54 or 6.61 percent at $89.39 per barrel.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.