FEAR & GREED | Business News Afternoon Report | ASX climbs as Greenland tensions ease
Jan 22, 2026
Today's highlights include a notable ASX rise fueled by easing tensions in Greenland and comments from Trump reducing tariff fears. Labour data suggests stronger job growth, bolstering rate-hike expectations. Energy and banks are the big winners, while Fortescue reports record iron ore shipments despite pressures on future prices. In a sobering note, the National Day of Mourning brings attention to recent events, and a major rescue operation is underway in New Zealand following a landslide.
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Market Rallies On Geopolitics Over Data
- The ASX 200 rose 0.8% to 8,849 points with nine of 11 sectors gaining ground today.
- Easing Greenland tensions after Donald Trump's Davos speech helped lift markets despite stronger labour data raising rate-hike bets.
Watch Jobs Data For Rate Signals
- Monitor labour force surprises as they can quickly increase odds of imminent rate hikes.
- Adjust risk positioning when jobs data lowers unemployment and pushes market expectations of higher rates.
Sector Divergence Drives Index Moves
- Energy and big bank stocks led gains with Woodside, Santos and major banks rallying strongly.
- Materials lagged as Fortescue's decline pulled the sector down, highlighting divergence across resource names.