ASX 200 report:
4 August 2026

The Australia 200 trades 115 points (1.28%) higher at 9134 at 3.45pm AEST.

Wall Street gains and resilient data drive ASX 200 higher

The ASX 200 hit the turbochargers today, surging 120 points (+1.30%) to a high of 9139.7, its highest level in five months. The local bourse was supported by a solid night on Wall Street, helped by cleaner positioning after the sharp sell-off in technology (tech) stocks that peaked last week, alongside softer Middle East headlines after President Donald Trump paused planned strikes on Iran.

The Federal Reserve (Fed) keeping rates on hold and better-than-expected earnings from most companies this quarter, despite a couple of high-profile disappointments, has also supported the rebound. Palantir was the latest big tech name to put a smile on investors’ faces, with its share price jumping 14.97% in after-hours trading to $144.45 after a strong beat and a significant raise in full-year guidance, underpinned by 149% year-on-year (YoY) growth in US commercial revenue.

In today’s economic news, the Monthly Household Spending Indicator for June rose 0.8%, easing from a revised 1.2% increase in May but exceeding forecasts for a 0.3% gain. Annual growth lifted to 6.0%, taking some of the doom and gloom out of subdued consumer confidence and the cooling housing market.

While today’s print is unlikely to move the dial ahead of next week’s Reserve Bank of Australia (RBA) Board meeting, which is expected to see rates kept on hold, it does reinforce the risk of a fourth rate hike this year.

ASX 200 stocks

Energy sector

With energy markets waiting for signs of meaningful progress in the latest round of diplomacy to de-escalate tensions with Iran and reopen the Strait of Hormuz, crude oil rose 1.49% to $81.25.

• Amplitude Energy rose 2.15% to $1.54
• Woodside Energy lifted 1.23% to $32.89
• Beach Energy edged 0.28% higher to $0.91 ahead of its earnings report on Thursday, previewed here.

Financials sector

The Financials sector, which finished up 5.85% last month and accounted for the majority of the ASX 200’s gains in July, traded to within 6 points of its mid-April record high.

• Macquarie Group hit a fresh record high of $262.12 before easing fractionally to trade 2.58% higher at $261.79.
• National Australia Bank rose 2.54% to $42.65
• ANZ Group climbed 2.01% to $38.04
• Westpac rose 1.89% to $38.90
• Commonwealth Bank added 1.62% to $180.62 ahead of its earnings report next week, previewed here.

Materials sector

Adding to market support, the heavyweight materials sector was solid across the board, boosted by stronger US manufacturing data overnight. The Institute for Supply Management (ISM) Manufacturing purchasing managers' index (PMI) for July rose to 55.6 from 53.3, marking the strongest expansion in factory activity since May 2022.

Copper futures rose to within 1.6% of their record highs.

• Capstone Copper lifted 3.67% to $14.13
• Sandfire Resources lifted 3.52% to $19.82
• Mineral Resources added 2.88% to $59.41
• Rio Tinto gained 1.06% to $171.30.
• BHP Group bucked the trend, slipping 0.12% to $60.63 after talks with Pilbara unions failed, raising the prospect of weekend strikes that could affect as many as 16 bulk iron ore carriers.

Information technology sector

Palantir's tailwind saw the ASX 200 information technology (IT) sector emerge as the day’s best performer and on course to lock in a seventh straight session of gains.

• DroneShield jumped 12.95% to $2.05, on what appeared to be short covering after finding buyers yesterday ahead of the $1.62 low from late last year
• Life360 jumped 10.52% to $28.25
• Zip Co lifted 6.25% to $2.72.

ASX 200 technical analysis

After last week’s attempt to break above the top of the 8500 - 9000 range failed to attract any follow-through buying, the ASX 200 has regrouped and is making a strong second attempt today. The index has pushed to a fresh five-month high of 9139.7, just 63 points (0.68%) below its 9202.9 record high from late February this year.

Provided the ASX 200 can hold above yesterday’s 8940 low, a break of the record high appears increasingly likely, ahead of a push towards 9350.

ASX 200 daily candlestick chart

• _{Source: TradingView. The figures stated are as of 04 August 2026. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}