The S&P/ASX 200 climbed 1.6% to 8,847 on Monday, rebounding from heavy losses last week, tracking significant gains from Wall Street last Friday. US stocks gathered momentum after easing concerns over AI-driven disruption lifted technology shares. In Australia, attention has shifted to a busy week of corporate earnings. CAR Group surged 11.5% after posting higher H1 net profit and reaffirming its FY26 outlook. Materials stocks also supported the index amid firm underlying commodity prices. Mining giants BHP, Rio Tinto, and Fortescue gained between 1.9% and 2.4%, while gold miners Newmont, Evolution Mining, and Northern Star climbed between 2.6% and 4.7%. Meanwhile, support for Australia’s center-right opposition has sunk to a new low, intensifying pressure on Liberal leader Sussan Ley just nine months into the role. The Coalition’s slide reflects growing disunity between the Liberals and Nationals over how to regain ground in major cities and how to respond to the rise of One Nation.