FEAR & GREED | Business News RBA wages warning; uranium stocks tumble; Google’s massive AI spend
Feb 5, 2026
The Reserve Bank warns wages will trail inflation, squeezing households through 2027. Uranium and mining stocks skid amid shifting AI demand forecasts. Alphabet plans a massive AI infrastructure spend that could reshuffle chip and data center winners. Privacy and policy sparks flare as retailers gain approval to trial facial recognition under tighter safeguards.
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Miners Hit By Metals And Rate Sentiment
- Markets reacted to the RBA's hawkish stance: ASX200 slipped and miners fell as metal prices dipped.
- Volatility in precious metals and a copper drop hit miners, showing sensitivity to global monetary signals.
Uranium Rally Faces An AI Reality Check
- Uranium stocks plunged after AMD's weaker-than-expected guidance reignited doubts about the AI growth story.
- The thesis linking AI data-centre power needs to nuclear demand is now under investor scrutiny.
Risk Assets Slide; AUD Strengthens
- Bitcoin extended a month-long decline from its highs, while oil rose on Iran tensions and the AUD strengthened above US$0.70.
- Australia's higher interest rates relative to overseas have attracted capital, lifting the currency.