ASX 200 LIVE: Market Retreat and Beach Energy's Profit Slide
Updated: February 5, 2026, 9:03 AM
The Australian Securities Exchange (ASX) 200 is expected to face a downturn, with Beach Energy's profit taking an 8% slide. This comes as Bitcoin drops below $65,000, and the market reacts to various economic indicators and company announcements.
Market Highlights:
- ASX 200 Futures: Down 18 points or 0.2% to 8876.
- AUD: -0.3% to US$0.6999.
- Bitcoin: -5.1% to $72,231.
- Wall Street: Dow Jones +0.5%, S&P 500 -0.5%, Nasdaq -1.5%.
- VIX: +0.64 to 18.64.
- Gold: +0.3% to $4961.75 per ounce.
- Brent Oil: +2% to $68.67 per barrel.
- Iron Ore: +0.2% to $102.15 per tonne.
- 10-Year Yield: US 4.28%, Australia 4.86%.
Key Events:
- Beach Energy's Profit Slide: The company's first-half profit drops 8% due to lower output, prompting a closer look at its operations.
- Ainsworth's Impairment: Ainsworth flags a $43.1 million impairment from its North American unit, indicating potential challenges in that region.
- Qualcomm's Forecast: The tech giant provides a tepid forecast, signaling a shaky phone market.
- ASX Trading Surge: January saw a surge in ASX trading as capital raisings eased, suggesting a positive trend in the market.
- Sun Silver's Permitting: Sun Silver taps Sunstone to lead permitting for Maverick Springs, a significant development in the energy sector.
Upcoming Events:
- Beach Energy's Quarterly Results: Expected on Thursday, this report will provide insights into the company's financial health and performance.
- Australia's December Trade Data: Scheduled for 11:30 AM, this data release will offer a snapshot of Australia's trade activities during the specified period.
- Central Bank Policy Meetings: The Bank of England and the European Central Bank are set to make policy decisions, with potential impacts on interest rates and economic outlook.
Market Sentiment and Trends:
- Wage Backlash: Economists and the Reserve Bank of Australia predict worsening real wages next year as inflation rises, mirroring a scenario reminiscent of 2011.
- Fiscal Policy Silence: RBA Governor Michele Bullock's silence on fiscal policy has sparked questions, with some economists seeking clarity on its role in inflation.
- AI's Impact on Software Giants: Artificial intelligence is disrupting the tech industry, with one venture capitalist warning of potential 'roadkill' and another describing the market as 'schizoid'.
- Bill Gates' AI Warning: Microsoft co-founder Bill Gates predicts that the majority of AI companies will fail but emphasizes the technology's unstoppable nature, hinting at a transformative job market in the future.
- US Outlook: A fund manager paints a rosy picture of the US economy, highlighting a 'Goldilocks gap' in market sentiment.
