Thursday 22nd January 2026
Daily Market Update: 22 January 2026
ASX dips amid Trump tensions
The Australian sharemarket declined for a third straight session on Wednesday, with the S&P/ASX 200 Index (ASX: XJO) falling 0.4 per cent to close at 8782.90. Investor sentiment was dampened by geopolitical uncertainty stemming from US President Donald Trump’s renewed push to acquire Greenland and threats of tariffs on European nations. Local technology stocks were hit particularly hard, with WiseTech Global Limited (ASX: WTC) down 2.4 per cent and Xero Limited (ASX: XRO) falling 5.2 per cent. Major banks also lost ground, including Commonwealth Bank of Australia (ASX: CBA), which dropped 2.2 per cent, and Australia and New Zealand Banking Group Limited (ASX: ANZ), down 2.1 per cent.
Gold miners shine, Paladin leads uranium rally
Despite the broader weakness, the materials sector showed resilience. BHP Group Limited (ASX: BHP) gained 1.5 per cent, while Rio Tinto Limited (ASX: RIO) rose 2.6 per cent on record Pilbara iron ore production. Gold producers surged on a rally in prices, with Evolution Mining Limited (ASX: EVN) and Westgold Resources Limited (ASX: WGX) jumping 9.5 per cent and 9.6 per cent respectively. Newmont Corporation (ASX: NEM) climbed 5 per cent as gold exceeded $US4800 an ounce. Meanwhile, Paladin Energy Limited (ASX: PDN) soared 13.1 per cent on upbeat uranium production guidance, and Australian Strategic Materials Limited (ASX: ASM) rocketed 119.3 per cent after being acquired by US-based Energy Fuels Inc. in a $US299 million deal.
Wall Street rebounds as geopolitical fears ease
Globally, US markets rebounded sharply after earlier losses, with the S&P 500 Index (NYSE: SPX) and Dow Jones Industrial Average (NYSE: DJI) each rising 1.4 per cent, and the Nasdaq 100 Index (NASDAQ: NDX) climbing 1.6 per cent. The rally was fuelled by US President Trump’s World Economic Forum comments ruling out military action over Greenland, calming investor nerves. Tech stocks led gains, with Advanced Micro Devices Inc. (NASDAQ: AMD), Intel Corporation (NASDAQ: INTC), and Micron Technology Inc. (NASDAQ: MU) jumping between 6.6 and 11.7 per cent. However, trade uncertainty lingered as Trump maintained pressure on Europe. Netflix Inc. (NASDAQ: NFLX) fell 2.2 per cent on rising content costs, while Johnson & Johnson (NYSE: JNJ) ended flat despite upgraded guidance.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.4 | -0.4 | 2.0 | -2.9 | 7.6 |
| Financials | -1.5 | -0.2 | -1.1 | -6.3 | 5.2 |
| Resources | 2.4 | 0.2 | 8.5 | 11.2 | 35.9 |
| Information Technology | -2.3 | -4.4 | -4.9 | -22.2 | -17.1 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 1.2 | -2.7 | -2.7 | -2.8 | 4.7 |
| Europe | -0.1 | -1.8 | -0.3 | 1.3 | 20.8 |
| Japan | -1.2 | -1.5 | 1.1 | -0.7 | 18.4 |
| China top 50 | -0.3 | -3.5 | -0.9 | -6.1 | 22.1 |
| India top 50 | -2.3 | -3.1 | -6.2 | -8.6 | -5.3 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.2 | -0.2 | 0.3 | -2.5 | 2.7 |
| Australian Corporate Bond | 0.0 | -0.2 | 0.4 | -2.1 | 3.6 |
| US Treasury | 0.0 | -0.2 | -0.3 | -0.7 | 5.1 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 4.0 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 3.6 | 2.2 | 7.3 | 9.5 | 59.9 |
| Silver | 0.1 | 4.1 | 42.5 | 84.3 | 187.7 |
| Crude Oil | 0.6 | -4.1 | 5.5 | 5.0 | -11.6 |
| Bitcoin | -2.8 | -8.0 | 0.1 | -23.0 | -20.2 |
