1 00:00:04,080 --> 00:00:06,560 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,600 --> 00:00:09,000 Speaker 1: for Friday, the six the February twenty twenty six. I'm 3 00:00:09,039 --> 00:00:11,960 Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that 4 00:00:12,039 --> 00:00:14,560 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:14,600 --> 00:00:17,480 Speaker 1: The S and PA six two hundred fell two percent 6 00:00:17,560 --> 00:00:20,239 Speaker 1: today to nine seven hundred and nine points, and all 7 00:00:20,320 --> 00:00:24,479 Speaker 1: eleven sectors went backwards. In fact, ninety five percent of 8 00:00:24,560 --> 00:00:27,840 Speaker 1: all ASEX two hundred stocks that's one hundred and ninety 9 00:00:27,880 --> 00:00:31,319 Speaker 1: stocks fell today. Over the week, the market is down 10 00:00:31,400 --> 00:00:33,840 Speaker 1: one point eight percent, the worse in about three months. 11 00:00:33,920 --> 00:00:36,680 Speaker 1: Technology stocks got hammered and for the week were down 12 00:00:36,800 --> 00:00:40,519 Speaker 1: twelve percent, with Wise Tech, Global, Zeroria, Next DC, and 13 00:00:40,600 --> 00:00:44,200 Speaker 1: Technology one all suffering. The impetus for the tech sell 14 00:00:44,200 --> 00:00:47,199 Speaker 1: off today was an announcement by Amazon that it will 15 00:00:47,240 --> 00:00:51,400 Speaker 1: spend two hundred billion US dollars two hundred billion US 16 00:00:51,440 --> 00:00:54,480 Speaker 1: dollars this year alone on data centers, chips, and other 17 00:00:54,560 --> 00:00:57,800 Speaker 1: AI materials. In after ours trading on Wall Street, it 18 00:00:57,840 --> 00:01:01,280 Speaker 1: was shunted more than eleven percent. Gold stocks did worse 19 00:01:01,640 --> 00:01:04,080 Speaker 1: this week than the tech sector, after the price of 20 00:01:04,120 --> 00:01:08,000 Speaker 1: the precious metal plummeted. Plenty of gold stocks that fell today. 21 00:01:08,480 --> 00:01:11,440 Speaker 1: Energy stocks were down, telco stocks were down. Real estate 22 00:01:11,480 --> 00:01:14,240 Speaker 1: companies dropped on the back of fears of higher interest rates. 23 00:01:14,440 --> 00:01:16,320 Speaker 1: Worst of the large caps today was Goodman Group of 24 00:01:16,360 --> 00:01:19,559 Speaker 1: property manager leverage to ai N data centers. It closed 25 00:01:19,600 --> 00:01:22,600 Speaker 1: down six percent and is off twenty percent over the 26 00:01:22,640 --> 00:01:25,840 Speaker 1: past year. Bit of a blood bath, sorry number two. 27 00:01:25,920 --> 00:01:28,760 Speaker 1: Talks between Rio Tinto and Glencore about a potential three 28 00:01:28,800 --> 00:01:32,880 Speaker 1: hundred billion dollar merger have ended, with media reporting prices 29 00:01:32,880 --> 00:01:36,360 Speaker 1: and ownership structure with the sticking points. It's the third 30 00:01:36,400 --> 00:01:38,280 Speaker 1: time the two mining giants have tried to combine to 31 00:01:38,319 --> 00:01:41,360 Speaker 1: create the world's biggest mining company. Glen Core was apparently 32 00:01:41,640 --> 00:01:45,080 Speaker 1: looking for a forty sixty three out Tinto, Rio, being 33 00:01:45,080 --> 00:01:48,400 Speaker 1: the larger, was thinking more like thirty one sixty nine 34 00:01:48,520 --> 00:01:52,200 Speaker 1: percent split. They couldn't come to an agreement. Storry number three. 35 00:01:52,240 --> 00:01:56,000 Speaker 1: The nine am deadline to reunite the Federal Coalition came 36 00:01:56,080 --> 00:01:58,160 Speaker 1: and went this morning, with both the Liberals and National 37 00:01:58,160 --> 00:02:01,040 Speaker 1: still locked in discussions, adding to confusion about the direction 38 00:02:01,080 --> 00:02:03,920 Speaker 1: of the party's Pauline Hanson, of course, has suggested her 39 00:02:03,960 --> 00:02:07,240 Speaker 1: party One Nation join the coalition as well. Some senior 40 00:02:07,280 --> 00:02:10,399 Speaker 1: Liberals were out and about today, saying the party could 41 00:02:10,400 --> 00:02:12,919 Speaker 1: always go as a loan, although being with the NATS 42 00:02:13,080 --> 00:02:16,160 Speaker 1: is preferred if a deal isn't done very quickly. Liberal 43 00:02:16,240 --> 00:02:19,120 Speaker 1: letter Susan Lee has said she'll unveil a new Liberal 44 00:02:19,200 --> 00:02:23,160 Speaker 1: frontbench on Sunday. Storry number four. Reserve Bank Governor Michelle 45 00:02:23,160 --> 00:02:26,799 Speaker 1: Bullock was before the House of Representatives Standing Economics Committee 46 00:02:26,800 --> 00:02:29,440 Speaker 1: on Economics today and there was plenty of focus on 47 00:02:29,480 --> 00:02:32,640 Speaker 1: the effect of government spending on inflation. Brook said monetary 48 00:02:32,680 --> 00:02:35,240 Speaker 1: policy determined by the Reserve Bank Board was good for 49 00:02:35,400 --> 00:02:38,320 Speaker 1: short term management of the economy, fiscal policy run by 50 00:02:38,360 --> 00:02:42,280 Speaker 1: the government more important for medium and long term impacts. Now, 51 00:02:42,320 --> 00:02:46,280 Speaker 1: the Reserve Bank is interested in aggregate demand, which includes 52 00:02:46,320 --> 00:02:49,560 Speaker 1: private and government spending, she said. To the extent that 53 00:02:49,639 --> 00:02:54,040 Speaker 1: aggregate demand is above aggregate supply, then government spending contributes 54 00:02:54,160 --> 00:02:58,000 Speaker 1: to inflationary pressures, but she wouldn't be drawn on competing 55 00:02:58,080 --> 00:03:00,560 Speaker 1: on whether the current government spending was too high or not. 56 00:03:00,919 --> 00:03:02,520 Speaker 1: Of course, earlier in the week, bull looking the Reserve 57 00:03:02,560 --> 00:03:05,040 Speaker 1: Bank Board lifted interest rates by twenty five basis points 58 00:03:05,320 --> 00:03:09,640 Speaker 1: and story number five, the first ever regular season NFL clash. 59 00:03:09,800 --> 00:03:12,640 Speaker 1: We're talking American football here will be held at the 60 00:03:12,680 --> 00:03:15,640 Speaker 1: Melbourne Cricket Grounds later in the year, and we'll feature 61 00:03:15,720 --> 00:03:19,000 Speaker 1: a clash between the San Francisco forty nine Ers and 62 00:03:19,320 --> 00:03:24,000 Speaker 1: Los Angeles Rams. The MCG is one of nine International 63 00:03:24,000 --> 00:03:27,320 Speaker 1: games in twenty twenty six across four continents, seven countries 64 00:03:27,320 --> 00:03:31,720 Speaker 1: in eight stadiums. London all host three, Melbourne, Mexico City, 65 00:03:31,800 --> 00:03:35,080 Speaker 1: Rare Digenio, Munich, Madrid and Paris. That's it for the 66 00:03:35,120 --> 00:03:37,840 Speaker 1: Outernoon Report for Friday the sixth to February twenty twenty six. 67 00:03:37,920 --> 00:03:40,080 Speaker 1: Make sure you're following the podcast and head along to 68 00:03:40,080 --> 00:03:41,920 Speaker 1: Feurygreed dot com today you to sign up for our 69 00:03:41,960 --> 00:03:44,760 Speaker 1: free daily newsletter. I'm sure I alma enjoy your evening.