1 00:00:03,600 --> 00:00:06,080 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,120 --> 00:00:08,520 Speaker 1: for Friday, the Sex the February twenty twenty six. I'm 3 00:00:08,520 --> 00:00:11,480 Speaker 1: Sean Almer. Every afternoon, We've got the five stories that 4 00:00:11,560 --> 00:00:14,040 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:14,080 --> 00:00:17,000 Speaker 1: The S and PA SX two hundred fell two percent 6 00:00:17,040 --> 00:00:19,759 Speaker 1: today to nine seven hundred and nine points, and all 7 00:00:19,840 --> 00:00:24,000 Speaker 1: eleven sectors went backwards. In fact, ninety five percent of 8 00:00:24,079 --> 00:00:27,320 Speaker 1: all ASEX two hundred stocks that's one hundred and ninety 9 00:00:27,360 --> 00:00:30,840 Speaker 1: stocks fell today. Over the week, the market is down 10 00:00:30,920 --> 00:00:33,400 Speaker 1: one point eight percent, the worse in about three months. 11 00:00:33,440 --> 00:00:36,200 Speaker 1: Technology stocks got hammered and for the week were down 12 00:00:36,320 --> 00:00:40,040 Speaker 1: twelve percent, with Wise Tech, Global, Zeroria, Next DC, and 13 00:00:40,120 --> 00:00:43,680 Speaker 1: Technology One all suffering. The emptus for the tech sell 14 00:00:43,720 --> 00:00:46,720 Speaker 1: off today was an announcement by Amazon that it will 15 00:00:46,760 --> 00:00:50,920 Speaker 1: spend two hundred billion US dollars two hundred billion US 16 00:00:50,920 --> 00:00:54,000 Speaker 1: dollars this year alone on data centers, chips, and other 17 00:00:54,080 --> 00:00:57,280 Speaker 1: AI materials. In after ours trading on Wall Street, it 18 00:00:57,360 --> 00:01:00,440 Speaker 1: was shunted more than eleven percent. Only gold store did 19 00:01:00,480 --> 00:01:03,440 Speaker 1: worse this week than the tech sector, after the price 20 00:01:03,520 --> 00:01:06,800 Speaker 1: of the precious metal plummeted plenty of gold stocks that 21 00:01:06,840 --> 00:01:10,240 Speaker 1: fell today. Energy stocks were down, telco stocks were down. 22 00:01:10,400 --> 00:01:12,760 Speaker 1: Real estate companies dropped on the back of fears of 23 00:01:12,840 --> 00:01:15,200 Speaker 1: higher interest rates. Worst of the large caps today was 24 00:01:15,200 --> 00:01:18,640 Speaker 1: Goodman Group of property manager leverage to ai N data centers. 25 00:01:18,640 --> 00:01:21,679 Speaker 1: It closed down six percent and is off twenty percent 26 00:01:21,800 --> 00:01:24,920 Speaker 1: over the past year. Bit of a blood bath Storry 27 00:01:24,959 --> 00:01:27,679 Speaker 1: number two. Talks between Rio Tinto and Glencore about a 28 00:01:27,680 --> 00:01:31,080 Speaker 1: potential three hundred million dollar merger have ended, with media 29 00:01:31,280 --> 00:01:35,440 Speaker 1: reporting prices and ownership structure with the sticking points. It's 30 00:01:35,480 --> 00:01:37,320 Speaker 1: the third time the two mining giants have tried to 31 00:01:37,319 --> 00:01:39,920 Speaker 1: combine to create the world's biggest mining company. Glen Core 32 00:01:40,160 --> 00:01:44,199 Speaker 1: was apparently looking for a forty sixty three oh Tinto, Rio, 33 00:01:44,360 --> 00:01:47,559 Speaker 1: being the larger, was thinking more like thirty one sixty 34 00:01:47,640 --> 00:01:51,200 Speaker 1: nine percent split. They couldn't come to an agreement. Story 35 00:01:51,240 --> 00:01:54,240 Speaker 1: number three. The nine am deadline to reunite the Federal 36 00:01:54,440 --> 00:01:57,200 Speaker 1: Coalition came and went this morning, with both the Liberals 37 00:01:57,280 --> 00:01:59,880 Speaker 1: and National still locked in discussions, adding to the confusion 38 00:02:00,000 --> 00:02:02,400 Speaker 1: about the direction of the party's Pauline Hanson, of course, 39 00:02:02,680 --> 00:02:05,760 Speaker 1: has suggested her party One Nation join the coalition as well. 40 00:02:06,040 --> 00:02:09,239 Speaker 1: Some senior Liberals were out and about today, saying the 41 00:02:09,360 --> 00:02:12,120 Speaker 1: party could always go as a loan, although being within 42 00:02:12,240 --> 00:02:15,080 Speaker 1: thats is preferred if a deal isn't done very quickly. 43 00:02:15,400 --> 00:02:18,120 Speaker 1: Liberal letter Susan Lee has said she'll unveil a new 44 00:02:18,280 --> 00:02:22,320 Speaker 1: Liberal frontbench on Sunday. Story number four. Reserve Bank Governor 45 00:02:22,360 --> 00:02:25,760 Speaker 1: Michelle Bullock was before the House of Representatives Standing Economics 46 00:02:25,840 --> 00:02:28,799 Speaker 1: Committee on Economics today and there was plenty of focus 47 00:02:28,880 --> 00:02:31,760 Speaker 1: on the effect of government spending on inflation. Brooks said 48 00:02:31,760 --> 00:02:34,520 Speaker 1: monetary policy determined by the Reserve Bank Board was good 49 00:02:34,639 --> 00:02:37,720 Speaker 1: for short term management of the economy, fiscal policy run 50 00:02:37,760 --> 00:02:41,799 Speaker 1: by the government more important for medium and long term impacts. Now, 51 00:02:41,800 --> 00:02:45,760 Speaker 1: the Reserve Bank is interested in aggregate demand, which includes 52 00:02:45,840 --> 00:02:49,080 Speaker 1: private and government spending, she said. To the extent that 53 00:02:49,120 --> 00:02:53,520 Speaker 1: aggregate demand is above aggregate supply, then government spending contributes 54 00:02:53,639 --> 00:02:57,520 Speaker 1: to inflationary pressures, but she wouldn't be drawn on commenting 55 00:02:57,600 --> 00:02:59,799 Speaker 1: on whether the current government spending was too high. On 56 00:03:00,400 --> 00:03:01,760 Speaker 1: of course, earlier in the week, we'll look on the 57 00:03:01,800 --> 00:03:04,519 Speaker 1: Reserve Bank Board lifted interest rates by twenty five basis points. 58 00:03:04,840 --> 00:03:09,120 Speaker 1: And story number five the first ever regular season NFL clash. 59 00:03:09,280 --> 00:03:12,120 Speaker 1: We're talking American football here, will be held at the 60 00:03:12,160 --> 00:03:15,160 Speaker 1: Melbourne Cricket Grounds later in the year, and we'll feature 61 00:03:15,200 --> 00:03:18,480 Speaker 1: a clash between the San Francisco forty nine Ers and 62 00:03:18,800 --> 00:03:23,440 Speaker 1: Los Angeles Rams. The MCG is one of nine International 63 00:03:23,520 --> 00:03:26,800 Speaker 1: Games in twenty twenty six across four continents, seven countries 64 00:03:26,840 --> 00:03:31,240 Speaker 1: in eight stadiums. London all host three, Melbourne, Mexico City 65 00:03:31,280 --> 00:03:34,640 Speaker 1: Rere Digenio, Munich, Madrid and Paris. That's it for the 66 00:03:34,639 --> 00:03:37,360 Speaker 1: Outernoon Report for Friday this sixth to February twenty twenty six. 67 00:03:37,440 --> 00:03:39,560 Speaker 1: Make sure you're following the podcast and head along to 68 00:03:39,600 --> 00:03:41,440 Speaker 1: Fearangreed dot com today you to sign up for our 69 00:03:41,440 --> 00:03:44,240 Speaker 1: free daily newsletter. I'm sure I all know. Enjoy your reaping.