{"id":102540,"date":"2026-02-25T15:35:42","date_gmt":"2026-02-25T18:35:42","guid":{"rendered":"https:\/\/tech.einnews.com\/article\/895501971"},"modified":"2026-02-25T15:35:42","modified_gmt":"2026-02-25T18:35:42","slug":"tech-stocks-boost-asx-after-nvidia-wows-wall-street-qantas-falls","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/25\/tech-stocks-boost-asx-after-nvidia-wows-wall-street-qantas-falls\/","title":{"rendered":"Tech stocks boost ASX after Nvidia wows Wall Street; Qantas falls"},"content":{"rendered":"<div class=\"sc-80607c67-0 byCHjx\">\n<p>The Australian sharemarket has opened higher, extending Wednesday\u2019s rally after Nvidia, the US chipmaker at the heart of the artificial intelligence revolution, again posted results that blew Wall Street expectations out of the park, soothing concerns about the AI boom.<\/p>\n<p>The S&amp;P\/ASX 200 rose 37.50 points, or 0.4 per cent, to 9165.60 as of 10.51am AEDT, led by technology shares. The ASX <a class=\"inline-link\" href=\"https:\/\/www.theage.com.au\/business\/markets\/asx-set-to-rise-as-wall-street-rebounds-20260225-p5o575.html\">jumped 1.2 per cent <\/a>to close at a record high on Wednesday. The Australian dollar was trading at US71.20\u00a2 at 10.54am AEDT.<\/p>\n<p>Qantas shares climbed as much as 4.1 per cent before swinging 6.1 per cent into the red. The airline reported record <a class=\"inline-link\" href=\"https:\/\/www.theage.com.au\/business\/companies\/qantas-posts-1-46-billion-profit-on-strong-demand-20260224-p5o51u.html\">half-year earnings of $1.46 billion<\/a> as less fuel-hungry Airbus planes are increasingly replacing its ageing domestic fleet. While the result came in slightly above analysts\u2019 expectations, Josh Gilbert from eToro said it showed the improvements were mostly thanks to the new aircraft, while travel demand especially on flights to America was starting to look a \u201clittle worrying\u201d.<\/p>\n<figure class=\"sc-4820f69c-1 fhsnES\"><button aria-label=\"enlarge image\" type=\"button\" class=\"sc-4820f69c-5 bsFdcS\"><\/p>\n<div class=\"sc-d34e428-0 bXqpHm\"><img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Markets were awaiting the latest results from Nvidia, which dropped after the closing bell in New York. Its profits didn\u2019t disappoint.\" loading=\"lazy\" fifu-data-src=\"https:\/\/i3.wp.com\/static.ffx.io\/images\/$zoom_0.378%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/18812fa18c0d492729c330d639f896f0e296b7d5?ssl=1\" class=\"sc-d34e428-1 bnWZMz\"><\/div>\n<p><\/button><figcaption data-testid=\"figure-caption\" class=\"sc-4820f69c-0 hMRMLa\"><span>Markets were awaiting the latest results from Nvidia, which dropped after the closing bell in New York. Its profits didn\u2019t disappoint.<\/span><cite class=\"sc-4820f69c-2 jnumBu\"><span class=\"sc-4820f69c-3 jkEJCb\">Bloomberg<\/span><\/cite><\/figcaption><\/figure>\n<p>In other earnings news, fund manager Perpetual rose 1.9 per cent after reporting a rebound in first-half net profit to $53.9 million, an increase of more than $40 million from the same half last year, when its profits were hit by significant items.<\/p>\n<\/div>\n<div class=\"sc-80607c67-0 byCHjx\">\n<p>Super Retail shares rallied 7.3 per cent after the company posted a 4.2 per cent lift in half-year sales to $2.2 billion, even though statutory profits fell 19.8 per cent. Its Macpac stores saw the greatest growth of Super Retail\u2019s four brands, lifting sales by 13.1 per cent, followed by Supercheap Auto, which grew 5.1 per cent. Rebel\u2019s sales gained 4.8 per cent, while BCF lifted 0.3 per cent.<\/p>\n<p>And pharmacy giant Sigma Healthcare jumped 5.2 per cent after saying its profits were up 19.2 per cent to $392 million in the December half, as sales at its 550 Chemist Warehouse stores jumped 17.2 per cent to $5.1 billion.<\/p>\n<p>Mining stocks also advanced after iron ore prices climbed overnight. BHP set a fresh record yet again, climbing 2.5 per cent to trade close to $58. Rio Tinto gained 3.3 per cent. Lynas Rare Earths rose 3.3 per cent after reporting a big jump in production, sales, revenue and profit, to $80.2 million, for the half year to December. CEO Amanda Lacaze said Western governments\u2019 efforts to fix rare earth supply challenges meant Lynas &#8211; as the only commercial producer outside China today &#8211; was in a good position to \u201ccapture the full value of this market upside.\u201d<\/p>\n<p>But it was tech stocks that once again powered the rise on the local market, tracking gains by their US peers. Software maker WiseTech Global, which on Wednesday said it would slash about a third of its workforce as developers are being replaced by AI, jumped 4.2 per cent. Accounting software makers Xero and TechnologyOne were up 5.1 per cent and 2.4 per cent, respectively, and AI data centre operator NextDC jumped 1 per cent.<\/p>\n<\/div>\n<div class=\"sc-80607c67-0 byCHjx\">\n<p>On Wall Street overnight, US stocks rose and erased their losses for the week so far, as bullish profit expectations for Nvidia boosted technology stocks. The AI chipmaker, which has become the US market\u2019s largest stock by value, didn\u2019t disappoint when it released its results after the closing bell.<\/p>\n<p>Its fiscal fourth-quarter sales surged 73 per cent from the previous year to $US68.1 billion ($95.7 billion) while profit nearly doubled to roughly $US43 billion. It also flagged roughly $US78 billion in revenue this quarter, when analysts were seeing less than $US72.3 billion. Its shares, up 1.4 per cent during the session, added another 1.5 per in after-hours trade.<\/p>\n<p>The stock helped push the S&amp;P 500 up 0.8 per cent for a second straight gain after Monday\u2019s swoon, when shares dropped as investors tried to separate potential losers from winners in the AI boom. The Dow Jones Industrial Average rose 0.6 per cent, and the Nasdaq composite climbed 1.3 per cent.<\/p>\n<p>Nvidia\u2019s profit reports have become a bellwether for global markets, not only because it\u2019s so big but also because of how influential the AI boom has broadly become over their moves. In past years, the AI frenzy helped stocks run to record after record amid hopes that it would revolutionise the economy and make it more productive.<\/p>\n<\/div>\n<div class=\"sc-80607c67-0 byCHjx\">\n<p>More recently, though, concerns have climbed about whether companies like Alphabet and Amazon are spending so much on chips from Nvidia and other equipment that they\u2019ll never be able to make back the investments through future gains in productivity. If that leads to a pullback in spending, it would hit Nvidia directly. The chipmaker\u2019s latest report alleviated such near-term worries.<\/p>\n<p>\u201cOur customers are racing to invest in AI compute \u2014 the factories powering the AI industrial revolution and their future growth,\u201d Chief Executive Officer Jensen Huang said.<\/p>\n<p>Investors have also begun focusing on companies and industries that could get undercut by AI-powered competitors, selling off stocks seen as potentially under threat, and spasms have rolled through industries as seemingly disparate as software, trucking logistics and legal services.<\/p>\n<p>That\u2019s on top of other worries already weighing on the market, including new tariffs announced by US President Donald Trump to replace ones struck down by the Supreme Court.<\/p>\n<\/div>\n<div class=\"sc-80607c67-0 byCHjx\">\n<p>\u201cWhile those concerns are real, we believe investors would be wise to balance them out with offsetting trends that may be underappreciated in the current wall of worry headline cycle,\u201d said Darrell Cronk, chief investment officer for Wealth &amp; Investment Management at Wells Fargo.<\/p>\n<p>Among them is the solid growth in profit that US companies have been reporting so far for the end of 2025. That has helped strengthen corners of the US stock market that had earlier been overshadowed by AI mania and Big Tech, including stocks of smaller companies.<\/p>\n<p><strong>with AP, Bloomberg<\/strong><\/p>\n<p><b><i>The Market Recap newsletter is a wrap of the day\u2019s trading. <\/i><\/b><a class=\"inline-link\" href=\"https:\/\/www.theage.com.au\/newsletter-signup?newsletter=market-recap&amp;utm_source=EditorialArticle&amp;utm_medium=ArticleText&amp;utm_campaign=Newsletters\"><b><i>Get it each we<\/i><\/b><b><i>e<\/i><\/b><b><i>kday afternoon<\/i><\/b><\/a><b><i>.<\/i><\/b><\/p>\n<\/div>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\"> <\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\"> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230; 10.51am AEDT, led by <span class=\"match\">technology<\/span> shares. The ASX jumped &#8230; upside.\u00e2\u0080\u009d But it was <span class=\"match\">tech<\/span> stocks that once again powered &#8230; profit expectations for Nvidia boosted <span class=\"match\">technology<\/span> stocks. The AI chipmaker, &#8230; by AI mania and Big <span class=\"match\">Tech<\/span>, including stocks of smaller companies &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-102540","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/102540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=102540"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/102540\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=102540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=102540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=102540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}