1 00:00:03,800 --> 00:00:06,520 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,519 --> 00:00:09,200 Speaker 1: for Wednesday, the sixth of November twenty twenty four. I'm 3 00:00:09,200 --> 00:00:11,879 Speaker 1: Sean Aelma. Every afternoon, We've got the five stories that 4 00:00:11,960 --> 00:00:14,160 Speaker 1: happened today that you need to know about. Straightum one, 5 00:00:14,440 --> 00:00:17,520 Speaker 1: Donald Trump is favorite to win the US presidential poll 6 00:00:17,960 --> 00:00:21,360 Speaker 1: after winning several of the battleground states or at least leading, 7 00:00:21,920 --> 00:00:26,320 Speaker 1: including Pennsylvania, which has all important nineteen Electoral College votes 8 00:00:26,640 --> 00:00:29,280 Speaker 1: and is a must win for Carl La Harris. Mister 9 00:00:29,360 --> 00:00:32,680 Speaker 1: Trump has won North Carolina, another key state, and he's 10 00:00:32,760 --> 00:00:35,360 Speaker 1: leading in Georgia as we go to where the New 11 00:00:35,440 --> 00:00:37,600 Speaker 1: York Times has put the chance of mister Trump winning 12 00:00:37,680 --> 00:00:41,120 Speaker 1: at ninety percent. The Democrats and Carl La Harris run 13 00:00:41,200 --> 00:00:44,760 Speaker 1: likely to concede the vote until tomorrow Australian time, given 14 00:00:44,800 --> 00:00:47,520 Speaker 1: the closeness of the race, But as it stands right now, 15 00:00:47,760 --> 00:00:50,160 Speaker 1: Donald Trump is set to become the forty seventh president 16 00:00:50,240 --> 00:00:52,640 Speaker 1: of the US and only the second to win the job, 17 00:00:52,880 --> 00:00:56,360 Speaker 1: having previously lost it. Story number two, it seems markets 18 00:00:56,400 --> 00:00:59,160 Speaker 1: are certainly confident of a Trump victory, with the US 19 00:00:59,240 --> 00:01:02,560 Speaker 1: dollar jumping and bitcoin hitting a new record. The US 20 00:01:02,640 --> 00:01:06,080 Speaker 1: dollars up one and a half percent against other major currencies, 21 00:01:06,120 --> 00:01:08,920 Speaker 1: the biggest one day move since March twenty twenty. It's 22 00:01:08,959 --> 00:01:11,440 Speaker 1: at a four month high. That's hit the Aussie dollar, 23 00:01:11,680 --> 00:01:14,160 Speaker 1: which has slumped more than a percent. It's down to 24 00:01:14,280 --> 00:01:17,000 Speaker 1: just above sixty five US sinse Bitcoin hit an all 25 00:01:17,040 --> 00:01:20,600 Speaker 1: time record of seventy four four hundred US dollars a unit. 26 00:01:20,800 --> 00:01:23,840 Speaker 1: It's up about eighty percent this year. Local Crypto Exchange 27 00:01:23,840 --> 00:01:27,640 Speaker 1: has said volumes were extremely high today. With the US 28 00:01:27,720 --> 00:01:31,000 Speaker 1: dollar high, some commodities are feeling the pressure. Copper, for example, 29 00:01:31,080 --> 00:01:34,200 Speaker 1: is lower goals. The outline, it's still trading close to 30 00:01:34,280 --> 00:01:38,759 Speaker 1: record highs. Bond yils have risen. Trump's plans to restrict 31 00:01:38,760 --> 00:01:42,240 Speaker 1: immigration and place tariffs on imports are inflationary and could 32 00:01:42,280 --> 00:01:45,440 Speaker 1: mean higher interest rates for longer Stroighting Number three. The 33 00:01:45,440 --> 00:01:48,200 Speaker 1: local sheer markets certainly seem enthused by the election results, 34 00:01:48,200 --> 00:01:50,800 Speaker 1: with the S and PASX two hundred closing up nearly 35 00:01:50,800 --> 00:01:54,080 Speaker 1: one percent to eight two hundred points. The general feeling 36 00:01:54,120 --> 00:01:56,640 Speaker 1: is that Trump is better for equities. We'll wait and 37 00:01:56,680 --> 00:01:59,720 Speaker 1: see on that one. Tech stocs, financials, and consumer discretion. 38 00:02:00,000 --> 00:02:03,240 Speaker 1: The companies did best. Energy stocks were worst come off. 39 00:02:03,280 --> 00:02:05,320 Speaker 1: Bank hit a record high of one hundred and forty 40 00:02:05,400 --> 00:02:08,200 Speaker 1: five dollars and thirty one cents quite the jugger or 41 00:02:08,320 --> 00:02:11,799 Speaker 1: that company. It's up forty five percent over the past year. 42 00:02:12,320 --> 00:02:16,320 Speaker 1: National Australian Bank releases its full year results tomorrow. Anz is. 43 00:02:16,320 --> 00:02:20,560 Speaker 1: On Friday, Domain dropped sharply after delivering a trading update, 44 00:02:20,639 --> 00:02:24,480 Speaker 1: and Mineral Resources was down after the Future Fund, the 45 00:02:24,520 --> 00:02:27,960 Speaker 1: country's biggest investor, said it would seek more information from 46 00:02:28,000 --> 00:02:32,320 Speaker 1: the board on Chris Ellison's involvement in a tax evasion scheme. 47 00:02:32,400 --> 00:02:36,360 Speaker 1: Chris Ellison, of course, is the founding CEO of that company. Stratum, 48 00:02:36,400 --> 00:02:39,239 Speaker 1: a four forcequ Metals Group held its annual general meeting today. 49 00:02:39,360 --> 00:02:42,920 Speaker 1: Executive chair Andrew Forrest said this company still planned to 50 00:02:42,919 --> 00:02:46,160 Speaker 1: be a major player in green energy despite its retreat 51 00:02:46,400 --> 00:02:49,680 Speaker 1: from hydrogen. Mister Forrest said that the company wants to 52 00:02:49,680 --> 00:02:52,200 Speaker 1: eliminate the use of fossil fuels in its iron ore 53 00:02:52,240 --> 00:02:55,560 Speaker 1: operation by twenty forty now a couple of months ago. 54 00:02:55,600 --> 00:02:59,880 Speaker 1: Back in July, Hydrogen dropped its green hydrogen ambitions basically 55 00:03:00,120 --> 00:03:04,680 Speaker 1: were too expensive, too hard technology breakthrough, as mister Forrest says, 56 00:03:04,720 --> 00:03:08,000 Speaker 1: as well as electrification of the mining fleet will get 57 00:03:08,320 --> 00:03:12,480 Speaker 1: fortescue to that twenty forty ambition of no fossil fuels. 58 00:03:12,720 --> 00:03:15,120 Speaker 1: Fortescue also said it will lean on the government to 59 00:03:15,120 --> 00:03:18,240 Speaker 1: help reduce the cost of producing green energy. And story 60 00:03:18,320 --> 00:03:21,760 Speaker 1: number five industrial property group Goodman has done more power 61 00:03:21,800 --> 00:03:24,120 Speaker 1: deals for a new wave of data centers that it's 62 00:03:24,160 --> 00:03:28,480 Speaker 1: developing globally. Goodman is the ninth largest company on the AX. 63 00:03:28,520 --> 00:03:30,880 Speaker 1: It's up sixty five percent over the last year. The 64 00:03:30,919 --> 00:03:33,360 Speaker 1: best of the top ten now has a network of 65 00:03:33,400 --> 00:03:36,280 Speaker 1: eighty billion dollars worth of global properties. It held its 66 00:03:36,320 --> 00:03:39,760 Speaker 1: AGM today. It says it will push further into data centers, 67 00:03:39,800 --> 00:03:42,160 Speaker 1: but one of the big questions of the course is power. 68 00:03:42,240 --> 00:03:44,800 Speaker 1: How do you get power into these centers? The CEO 69 00:03:45,160 --> 00:03:48,320 Speaker 1: Greg Goodman said data centers would end up being built 70 00:03:48,320 --> 00:03:51,800 Speaker 1: near industrial parks in places like western Sydney. That's it 71 00:03:51,840 --> 00:03:54,320 Speaker 1: for the Afternoon Report for Wednesday, the sixth of November 72 00:03:54,360 --> 00:03:56,400 Speaker 1: twenty twenty four. Adam Lang and I will be back 73 00:03:56,400 --> 00:03:58,760 Speaker 1: tomorrow morning. It's a Thursday edition off beer and greed 74 00:03:58,800 --> 00:04:01,800 Speaker 1: business news. I'm Shuaelma. Enjoy your evening.