CommSec Market update for Friday 16th October 2026

The Aussie share market rose by more than 1 per cent on Friday, strongest performance in about 10 weeks, helping guide local shares to roughly a one month high.

Despite the gains, though, our market is still well shy of the record highs we hit in early August.

One of the surprises this week was data showing that Australia’s unemployment rate hit 4.7 per cent, a five-year high, which has made a November rate hike a little less likely.

Tech stocks remain among the hardest hit this year, but they stood out today.

Logistics software company WiseTech rose after ASIC confirmed it would not take action against its founder over his alleged share trading.

The world’s largest mining company, BHP, bounced back from three days of declines, while vaccine maker CSL also gained ground.

Waste management company CleanAway fell ahead of a fast-approaching deadline for its potential acquisition by a Swedish investor.

The Aussie dollar has weakened, buying roughly 69.4 US cents. And we’ll have more on today’s market moves in this afternoon’s Comsec Market Update podcast.

This article is published as part of a paid partnership with the CommSec.

Facts and dates are correct at the time of publication. This is general information only and does not constitute personal financial advice. Consider seeking advice from a qualified financial professional before making financial decisions.