FEAR & GREED | Business News Afternoon Report | Miners lift ASX
6 snips
Feb 4, 2026 Materials and energy stocks drive the ASX higher as gold and copper surge. A federal plan to sell defence properties to fund upgrades sparks debate. Record airport arrivals create border processing delays and calls for tech fixes. A legal test over remote work rights could reshape return-to-office rules. Bill Gates weighs in on AI responsibility and job impacts.
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Miners Drive Market Gains
- Rising commodity prices drove the ASX 200 higher despite most sectors falling.
- Gold and copper rallies lifted miners and pushed BHP to a 52-week high, overtaking CBA.
Commodity Moves Fuel Stocks
- Gold jumped again, up 2.7% after a 6% rise yesterday, now around $5,080 an ounce.
- Energy stocks also gained as oil prices rose amid Iran–US tensions, lifting Woodside and Santos.
Tech Sector Pullback
- US tech weakness dragged local tech shares sharply lower, with the sector down over 9%.
- High-growth local techs felt the pain: Zero fell almost 16% on the day.