Afternoon Report | ASX rises as Fed gets tough on inflation
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Why did the ASX 200 rise today and which sectors led the gains?
Welcome to the Fear and Greed Business News Afternoon Report for Thursday, the 17th of September 2026. I'm Michael Thompson, and every afternoon we've got the five stories that happened today that you need to know about. Story number one: the SP ASX 200 gained 0.4% today to 8,732 points. Despite only four of the 11 sectors actually finishing higher, the US Federal Reserve's decision. To raise interest rates overnight, helped settle bond markets. More on that one shortly. And oil also fell for a second day to around $106 a barrel as a key pipeline. It was restored. Both of those things gave investors a bit of confidence today. NAB jumped more than 3%. ANZ gained 2.1%. Commonwealth Bank and Westpac also rose.
How is the Federal Reserve’s latest rate hike affecting U.S. markets and Australian investors?
Really, the banks were among the strongest performance. Today. Healthcare stocks, though, they were stronger as well, led by 4D Medical, T-Lex Pharmaceuticals, and Promedicus. The energy and gold stocks went the other way. As commodity prices fell, Santos was off nearly 2%, while Remelius resources dropped more than 4%. One more worth mentioning: ASX Limited, the company, that is, jumped more than 4% after UBS upgraded. Story number two, I mentioned before that the U.S. Federal Reserve has increased interest rates. It is the first time that the bank has hiked rates since 2023, with Chair Kevin Walsh warning that inflation remains too high in the world's biggest economy. The Fed unanimously lifted its benchmark rate by a quarter of a percentage point to a range of 3.75 to 4%.
It says the US economy is still expanding at a solid pace with resilient spending, robust investment, and elevated inflation. President Donald Trump, though, disagreed with the decision, saying U.S.
What did CSL’s chairman say about shareholder frustration and the biotech giant’s recent losses?
interest rates should be 1% or lower, renewing the pressure on a central bank chair that he appointed earlier this year, though he did stop well short of the uh personal criticism that he leveled at Water's predecessor, Jerome Powell, previously. U.S. and Australian 10-year bond yields both eased after the decision. The Fed's projections also point to the possibility of the United States. possibility of another rate rise before the end of the year. Story number three, CSL chair Brian McNamy has acknowledged shareholder frustration after a horror year for the biotech giant, admitting the company was too slow to respond to competition and made investments that didn't deliver. CSL reported a $3.7 billion loss last financial year compared with a $3 US billion dollar profit a year earlier.
We've talked about this a fair bit over the last few weeks. Weeks. The results included $7.9 billion of restructuring and impairment expenses, including a US$1.7 billion write-off of Goodwill at CSL VIFA. McNamee, in a note to shareholders today, said that CSL built up too many fixed costs. Its RD underperformed, and it failed to adapt quickly enough to competitive pressure.
How is the Australian Tax Office targeting the shadow economy and what penalties are being imposed?
That followed the departure. Of CEO Paul Mackenzie, there is one rather big bright spot, though. CSL shares have rallied almost 90% since their June low, though they are still off about 40% over the past two years. They are up about 2% today. Story number four, the tax office is getting tougher on businesses operating in the shadows, with prosecutions for deliberately failing to lodge tax returns, jumping more than 80% in a year. Over the past two years, the ATO says it has successfully prosecuted more than 350 people and businesses, securing more than 305 convictions. Those cases have resulted in more than $2.7 million in court-imposed fines. The ATO is targeting the so-called shadow economy, businesses and individuals hiding income, perhaps demanding cash payments or avoiding their tax and super obligations.
Queensland accounted for 28% of successful prosecutions last financial year, followed by WA at 26% and New South Wales at 20%. The message from the tax office is pretty simple. Cash may be king, but the ATO still wants its cut. And finally, story number five: Donald Trump has threatened Europe with heavy tariffs if a push to make Canada the European Union's first associate member is deemed by the US President to be a hostile act.
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Chapters
6 chapters
1
Why did the ASX 200 rise today and which sectors led the gains?
0:03–0:51
2
How is the Federal Reserve’s latest rate hike affecting U.S. markets and Australian investors?
0:51–1:58
3
What did CSL’s chairman say about shareholder frustration and the biotech giant’s recent losses?
1:58–3:12
4
How is the Australian Tax Office targeting the shadow economy and what penalties are being imposed?
3:12–4:36
5
Why is Donald Trump threatening Europe with tariffs over Canada’s EU associate‑member bid?
4:36–5:44
6
What are the key takeaways from today’s market roundup and where can listeners find more updates?
5:44–5:48
Speakers
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