Commonwealth Bank of Australia
Commonwealth Bank of Australia
02/20/2026 | Press release | Distributed by Public on 02/19/2026 17:12
Global stocks tread water as AI fears wane but Iran fears stay
Elsewhere on Thursday, Asian equities rose overnight and the US dollar found a footing after minutes from the Federal Reserve's latest meeting showed policymakers were in no rush to cut rates.
Europe's STOXX 600 index slipped 0.24 per cent as shares in plane maker Airbus and miner Rio Tinto fell after they reported earnings.
The index hit a record the previous day as a rally in defence and banking shares helped investors shake off worries about AI disrupting companies.
Futures for the US S&P 500 and tech-focused Nasdaq were little changed.
MSCI's index of Asian-Pacific stocks excluding Japan rose 0.38 per cent, although trading was thin with markets in Hong Kong, China and Taiwan closed for the Lunar New Year holiday.
Wall Street lifted by Nvidia deal
Wall Street rallied on Wednesday, driven by Nvidia saying it signed a multi-year deal to sell Meta Platforms millions of artificial intelligence chips.
Oil climbs on US-Iran tensions
Oil prices extended gains after surging in the previous session, as investors priced in potential supply disruptions on concerns of a conflict between the US and Iran.
US outlets including the New York Times and CNN reported the build-up of American forces around Iran, although they stressed President Donald Trump had not decided on a course of action.
Brent crude oil futures were up 1.5 per cent at $US71.42 a barrel - the highest since late January - after jumping 4.4 per cent in the previous session.
US crude rose 1.6 per cent to $US66.26.
Gold, traditionally a safe-haven asset, rose 0.8 per cent to $US5,017 an ounce.
US dollar steadies after Fed minutes
The dollar slipped slightly after rallying in the wake of better-than-expected US economic data and as minutes of the Fed's January policy meeting revealed several policymakers were open to rate hikes if inflation remains elevated.
The dollar index, which tracks the currency against six major peers, was last down 0.11 per cent after climbing 0.59 per cent on Wednesday.
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