Tuesday 3rd February 2026
Daily Market Update: 4 February 2026
Australian market overview
The Australian share market finished higher on Tuesday, supported by a rebound in gold prices despite some intraday volatility following the Reserve Bank of Australia’s decision to lift interest rates for the first time since 2023. The S&P/ASX 200 Index (ASX: XJO) gained 78.5 points to close at 8,870.60, with 10 of 11 sectors ending in positive territory as the market recovered from Monday’s sharp sell-off in precious metals. The index was up as much as 1.1 per cent earlier in the session before trimming gains after the central bank increased the cash rate by 0.25 percentage points to 3.85 per cent.
Australian sector and stock moves
Mining stocks underpinned the advance as gold prices rebounded strongly, lifting Newmont Corporation (ASX: NEM), Evolution Mining Limited (ASX: EVN) and Genesis Minerals Limited (ASX: GMD). Bank stocks also moved higher after commentary suggested higher rates could support margins, with Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corporation (ASX: WBC), National Australia Bank Limited (ASX: NAB) and Australia and New Zealand Banking Group Limited (ASX: ANZ) all firmer. The technology sector outperformed, led by WiseTech Global Limited (ASX: WTC), NextDC Limited (ASX: NXT) and Xero Limited (ASX: XRO). Elsewhere, Neuren Pharmaceuticals Limited (ASX: NEU) fell sharply on regulatory news, NRW Holdings Limited (ASX: NWH) rallied on new contract wins, while Credit Corp Group Limited (ASX: CCP) sold off heavily after disappointing results.
Global markets overview
Global equity markets weakened as investors rotated out of stretched technology valuations, with the S&P 500 Index (NYSE: SPX), Nasdaq 100 Index (NASDAQ: NDX) and Dow Jones Industrial Average (NYSE: DJI) all closing lower. Losses were concentrated in semiconductor and artificial intelligence names including NVIDIA Corporation (NASDAQ: NVDA), Broadcom Inc. (NASDAQ: AVGO), Micron Technology, Inc. (NASDAQ: MU)and KLA Corporation (NASDAQ: KLAC) amid higher long-term bond yields and profit-taking. Earnings results added to volatility, with Intuit Inc. (NASDAQ: INTU) and PayPal Holdings, Inc. (NASDAQ: PYPL) falling sharply, while Palantir Technologies Inc. (NYSE: PLTR) and Merck & Co., Inc. (NYSE: MRK) outperformed on stronger outlooks.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.9 | -0.9 | 1.5 | 0.1 | 9.2 |
| Financials | 0.3 | 0.1 | -1.6 | -5.7 | 6.2 |
| Resources | 2.1 | -3.4 | 6.0 | 13.7 | 39.0 |
| Information Technology | 1.2 | -6.4 | -8.2 | -21.8 | -20.8 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -0.8 | 0.3 | -1.9 | -4.1 | 5.1 |
| Europe | 0.7 | -0.3 | 0.1 | 4.0 | 19.9 |
| Japan | 1.4 | -1.8 | 0.6 | -1.8 | 16.1 |
| China top 50 | -1.3 | -1.6 | -4.9 | -7.1 | 11.5 |
| India top 50 | 3.9 | 0.3 | -8.5 | -10.4 | -10.1 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.4 | 0.1 | 0.2 | -1.6 | 1.9 |
| Australian Corporate Bond | -0.2 | 0.1 | 0.4 | -1.3 | 2.8 |
| US Treasury | -0.3 | -0.3 | -0.3 | 0.0 | 4.9 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 2.2 | -6.6 | 4.3 | 10.0 | 48.6 |
| Silver | 5.9 | -26.3 | 6.3 | 57.8 | 132.4 |
| Crude Oil | -0.4 | 4.5 | 14.3 | 8.1 | 0.8 |
| Bitcoin | 3.1 | -11.8 | -16.7 | -31.4 | -30.4 |
