Tuesday 6th January 2026
Daily Market Update: 7 January 2026
ASX dips as financials weigh on sentiment
The Australian share market fell on Tuesday, with the S&P/ASX 200 Index (ASX: XJO) closing 0.5 per cent lower at 8682.8, despite a positive session on Wall Street. Nine out of eleven sectors recorded losses, driven mainly by a broad sell-off in the financial sector. Shares in the major banks declined as concerns over high valuations resurfaced — Commonwealth Bank of Australia (ASX: CBA) dropped 3 per cent, Westpac Banking Corporation (ASX: WBC) fell 2.2 per cent, Australia and New Zealand Banking Group Limited (ASX: ANZ) slid 2 per cent, and National Australia Bank Limited (ASX: NAB) declined 2.4 per cent.
Mining and M&A activity offset losses
Strong gains in the materials sector provided some support, driven by a copper price rally to a record high of US$13,000 per tonne amid supply disruptions and surging demand. BHP Group Limited (ASX: BHP) rose 1.6 per cent, Rio Tinto Limited (ASX: RIO) added 1.8 per cent, and Sandfire Resources Limited (ASX: SFR) climbed 2.9 per cent, while IGO Limited (ASX: IGO) jumped 5.1 per cent. BlueScope Steel Limited (ASX: BSL) surged 21 per cent following a $13 billion takeover bid from Seven Group Holdings Limited (ASX: SVW) and Steel Dynamics Inc. (NASDAQ: STLD). Meanwhile, Monadelphous Group Limited (ASX: MND) gained 2.4 per cent after securing a $175 million construction contract with BHP.
Wall Street rallies on Fed hopes and chip strength
US equities continued their ascent, with the Dow Jones Industrial Average (INDEXDJX: DJI) up 1.1 per cent, the S&P 500 Index (INDEXSP: INX) rising 0.8 per cent, and the Nasdaq 100 Index (NASDAQ: NDX) climbing 1.1 per cent. Investor optimism was buoyed by expectations of multiple interest rate cuts by the Federal Reserve. Semiconductor stocks led gains, with Micron Technology Inc. (NASDAQ: MU), Texas Instruments Incorporated (NASDAQ: TXN), Analog Devices Inc. (NASDAQ: ADI), and NXP Semiconductors N.V. (NASDAQ: NXPI) jumping as much as 10 per cent. Healthcare stocks also rose, including Eli Lilly and Company (NYSE: LLY) and UnitedHealth Group Incorporated (NYSE: UNH). Energy names were mixed following geopolitical developments in Venezuela, where the capture of its leader influenced oil market expectations.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.5 | -0.4 | 0.7 | -2.8 | 8.2 |
| Financials | -1.7 | -1.7 | 1.6 | -4.8 | 8.0 |
| Resources | 1.7 | 0.9 | 2.4 | 9.3 | 34.9 |
| Information Technology | -0.1 | -1.9 | -5.9 | -22.2 | -14.5 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.8 | 0.0 | -0.8 | 1.0 | 9.6 |
| Europe | 0.3 | 1.0 | 2.2 | 3.0 | 24.4 |
| Japan | 1.3 | 2.0 | -2.2 | -2.4 | 14.9 |
| China top 50 | 1.1 | 1.9 | -1.6 | -5.2 | 26.1 |
| India top 50 | -1.3 | 0.3 | -1.3 | 0.9 | -3.6 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.1 | 0.0 | -0.1 | -1.4 | 2.8 |
| Australian Corporate Bond | 0.1 | 0.0 | 0.0 | -1.3 | 3.5 |
| US Treasury | 0.0 | -0.2 | 0.0 | 0.7 | 5.8 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 4.0 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 0.7 | 1.9 | 3.9 | 11.2 | 55.9 |
| Silver | 3.5 | 0.2 | 27.9 | 52.3 | 130.1 |
| Crude Oil | 1.6 | 0.7 | -2.4 | -3.9 | -10.8 |
| Bitcoin | 0.7 | 4.8 | 2.1 | -26.2 | -11.7 |
