1. Shadow treasurer Chris Bowen has confirmed that the Labor party does not intend to back down on its changes to negative gearing and franking credits in an interview with Guardian Australia. Bowen did not specify when the negative gearing changes would be brought in.

2. Former Liberal MP and current Independent Julia Banks has announced she will run against health minister Greg Hunt in the seat of Flinders in Victoria at the federal election.

3. The Fed has left interest rates unchanged between 2.25-2.5% in the US, and said that it will be "patient" when determining future adjustments "in light of global economic and financial developments and muted inflation pressures".

4. The Dow ended the day 1.77% higher, while the S&P 500 was up 1.56% and the Nasdaq increased by 2.20%. 

5. Chinese officials are in Washington DC for trade talks ahead of the March 1 deadline for the introduction of additional tariffs by the US.