By Stan Choe
Publication Date: 2026-02-24 18:14:00
Staff reporter
Updated ,published for the first time
The Australian stock market continued its midday rally, posting gains on Wall Street, where investors turned away from artificial intelligence fatigue and focused on the benefits of the AI boom.
A flurry of corporate news also boosted local investor sentiment: Woolworths, the country’s largest supermarket chain, rebounded after raising its interim dividend by 15.4 percent and saying business was doing well at its Australian supermarkets. Software giant WiseTech Global made headway after announcing it would cut nearly a third of its workforce as it relies on AI in software development. And Fortescue Metals extended gains in mining stocks after reporting record shipments of iron ore.
