Tuesday 27th January 2026
Daily Market Update: 28 January 2026
ASX All Ords (ASX:XAO) hits 3 month high, gold, silver surge, BHP (ASX:BHP) takes Commonwealth Bank’s (ASX:CBA) crown
The local market surged another 0.9 per cent to a three month high, overcoming concerns that President Trump would slap new tariffs on Korea vehicle imports and Canada broadly, amid concerns they were set to sign a trade deal with China. But all eyes were on the materials sector, which gained 1.4 per cent on the back of a 2.7 per cent jump in iron ore miner BHP (ASX:BHP) which has retaken its crown as the largest company on the ASX. The only laggards were the property and technology sectors, as markets price in a 60 per cent chance of an RBA rate increase next week, with all eyes on upcoming inflation data. Pro Medicus (ASX:PME) managed a solid day, gaining 5.1 per cent, as did REA Group (ASX:REA) gaining 4.6 per cent, amid a return to support for the software driven technology companies.
Droneshield (ASX:DRO), Alcoa (ASX:ALI) tank on downgrades, Michael gains on stronger sales
Shares in Droneshield (ASX:DRO) posted a 6.4 per cent fall, despite seeing revenue double in the December quarter, hitting $51.3 million, with markets concerned about a slowing sales pipeline, since the share sales by Founder and CEO. Alcoa (ASX:AAI) shares tanked amid growing struggles and weakness in the smelting business and sector more broadly. Jeweler Michael Hill (ASX:MHJ) has managed to overcome a surging gold price to record a solid boost in sales, with earnings expected to be up to $30 million, a 24 per cent increase on the prior year, as record growth in Canada powered the company. Santos (ASX:STO) managed a solid gain as the company finally managed to deliver exports from its heavily delayed Barossa Gas project.
S&P500 hits record high, Trump ‘not concerned’ about falling US Dollar, United Parcel Service upgrades expectations
The S&P500 surged to another record high following the public holiday in Austraila, gaining 0.5 per cent, with the Nasdaq also adding 0.9 per cent ahead of a massive few days for big tech earnings. All focus remains on the Federal Reserve, and the USD which has continued to weaken, with President Trump stating he isnt concerned about the trend to move aware fro the US. Gold held above US$5,000 per ounce, while 81 per cent of the one third of companies in the S&P500 have delivered better than expected earnings results. United Parcel Service (NYSE:UPS) delivered a solid result, with the share price barely moving, as the company forecast sales above expectations as the group looks to cut less profitable packages out of its network and cut as many as 30,000 jobs at the same time. United Health Group (NYSE:UHG) continues to struggle, as a competitive insurance market makes it difficult to compete with the company flagging another decline in revenue in 2026.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.9 | 1.4 | 2.2 | -0.7 | 10.0 |
| Financials | 0.9 | -0.2 | -2.6 | -6.0 | 4.4 |
| Resources | 1.5 | 2.6 | 7.7 | 15.3 | 42.8 |
| Information Technology | 1.0 | 1.6 | -2.6 | -19.5 | -13.2 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.5 | -0.2 | -2.5 | -3.9 | 14.7 |
| Europe | 0.3 | -0.8 | 0.7 | 1.7 | 19.2 |
| Japan | -0.3 | -2.0 | 2.7 | 0.8 | 18.3 |
| China top 50 | 0.2 | -1.5 | -0.9 | -8.3 | 15.7 |
| India top 50 | -1.4 | -3.4 | -7.9 | -10.8 | -7.8 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.1 | -0.3 | -0.2 | -2.5 | 2.0 |
| Australian Corporate Bond | -0.1 | -0.2 | 0.0 | -2.1 | 3.0 |
| US Treasury | 0.1 | 0.4 | 0.1 | -0.1 | 5.3 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 4.0 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 1.3 | 2.2 | 7.8 | 18.7 | 62.7 |
| Silver | 8.5 | 1.5 | 33.9 | 99.1 | 196.9 |
| Crude Oil | 0.9 | 0.5 | 7.4 | 0.2 | -7.6 |
| Bitcoin | -2.6 | -6.1 | -2.6 | -28.1 | -23.7 |
