Bank Of America Stock Price Hits 18-year High

The ASX 200 fell 92 points, or 1.1%, to close at 8,579 on Thursday, erasing early gains and snapping a two-session gain. Sentiment soured after U.S. futures slumped as President Trump, in remarks to the nation, signaled further military strikes against Iran, despite suggesting the conflict could end within weeks. Locally, Westpac Strategy noted that escalation risks in the Middle East remain explicit. On the trade front, Australia's imports fell 3.2% mom to a seven-month low in February, reflecting weaker demand and trade uncertainty. Losses were broad, led by commercial services, consumer durables, and non-energy minerals. Major decliners included HUB24 (-7.6%), Mineral Resources (-6.0%), Ramelius Resources (-4.5%), and Evolution Mining (-4.1%). Still, markets rose 0.7% for the week, lifted by the strongest commodity price rise since 2023. Meantime, PM Albanese announced up to AUD 693 million in cheap loans to ease fuel costs. Markets will close for Good Friday and reopen Tuesday.

Australian shares rose 36 points, or 0.4%, to 8,707 in early Thursday trade, extending gains for a third session after Wall Street’s strength overnight. Sentiment was buoyed by hopes of de-escalation in the Middle East conflict, with investors awaiting an update from U.S. President Donald Trump later today. The war, now in its fifth week, has fueled pressure on Washington to ease tensions amid surging gasoline prices. Local markets held at two-week highs, tracking toward a second consecutive weekly advance, up about 2% so far. Gains were tempered by caution ahead of February trade data due later today. Sector performance was mixed: consumers, process industries, non-energy minerals, and financials advanced, while energy minerals and tech services lagged. Early movers included Greatland Resources (5.1%), Qantas Airways (2.0%), Bluescope Steel (1.0%), and Perseus Mining (2.6%). Markets will close tomorrow for Good Friday.

The S&P/ASX 200 surged 190 points, or 2.2%, to end at 8,672 on the first trading day of April, extending prior gains and hitting a two-week peak. Sentiment was buoyed by stronger U.S. futures ahead of President Trump’s address on Iran, where he might suggest hostilities could end within weeks without a formal deal. Locally, Australia's PM Anthony Albanese is set to deliver a rare national address on the Middle East conflict, with reports he will urge Australians to conserve fuel. Local data showed building permits in Australia recovered sharply in February, led by approvals for private-sector dwellings excluding houses. Logistics, manufacturing, and energy minerals logged solid gains, offsetting falls in consumer durables and commercial services. Qantas rose 3.6% after regulators granted interim approval to extend its partnership with American Airlines. Other standouts included Northern Star (8.6%), BHP (4.3%), and Macquarie (3.3%). The four major banks advanced between 1.1% and 2.5%.