End of Day Report – Wednesday 4 February: ASX 200 jumps 71 points | BHP and CBA race for dominance

ASX 200 rallied 71 points to 8928 (0.8%) throughout the day as banks and resources rose in tandem. Tech was shattered again with the All-Tech Index down 7.1%. BHP rose 4.5% to be #1 again as copper bounced back and held gains. RIO up 4.3% and FMG managed a 1.7% rise. Gold miners too bounced back hard as bullion sprinted back over $5000. NST up 6.2% and NEM up 4.3%. Uranium stocks also in demand, NXG up 2.8% and LOT gaining 7.9%. Both STO and WDS rallied hard on crude price rises. Copper stocks were also firm, SFR up 1.2% and CSC rising 3.4%. Lithium a little depressed. PLS down 1.8%. Banks were hot, CBA jumped 2.6% and WBC up 1.5% with the Big Bank Basket up to $277.95 (%). MQG dipped 1.4% and financials fell, ZIP down 9.0% and NWL falling 7.8%. Industrials fell, JBH dropped 1.9% and ALL off 2.8%. Healthcare fell, RMD off 1.6% and COH down 2.5%. Tech was massacred with WTC down 10.7%, XRO smashed 15.9% after an investor day, TNE off 10.5% and 360 off 5.9%.In corporate news, YAL jumped 9.0% amidst Chinese coal demand. AMC rose 3.5% after reaffirming guidance. NEU in a trading halt pending an FDA announcement on NNZ-2591.Nothing on the economic front. Asian markets eased, Japan down 0.9%, China up 0.1% and HK down 0.2%US Futures slightly higher, Nasdaq down 20, Dow up 58 10-year yields steady at 4.86%Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.