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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Friday, the sixth of June twenty twenty five. I'm

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Speaker 1: Sean Almer. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. The SMPASX

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Speaker 1: two hundred closed down. I touched today zero point two

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Speaker 1: percent to finish the eighty five hundred and sixteen points

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Speaker 1: for the week. The market was up almost one percent.

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Speaker 1: Volumes were relatively low today ahead of the King's Birthday

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Speaker 1: long weekend. Some of the better performing stocks include James Hardy, Whitehaven, Cole,

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Speaker 1: and Quantas. Some of the most sold off stocks were

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Speaker 1: critical minerals on the back of talks between Donald Trump

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Speaker 1: and Jijing Ping Moore. On that shortly in corporate news,

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Speaker 1: gold Digger or a band of mining, downgraded its outlook,

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Speaker 1: sending its share price down twelve and a half percent.

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Speaker 1: And Sky Sitting Entertainment Group is suing Fletcher Building for

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Speaker 1: New Zealand three hundred and thirty million dollars in damages

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Speaker 1: for what it claims are unacceptable delays in gross negligence

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Speaker 1: in the construction of a convention center in New Zealand.

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Speaker 1: Story number two the Elon Donald Trump bromance is well

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Speaker 1: and truly over, with open warfare erupting. Over the past

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Speaker 1: twenty four hours between the two, Donald Trump has attacked

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Speaker 1: Elon Musk as crazy, that's his word, and threatened to

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Speaker 1: rip up his government contracts, while the billionaires said the

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Speaker 1: president should be impeached. Trump publicly addressing Musk's latest attacks

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Speaker 1: on his signature tax bill for the first time, said

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Speaker 1: he was disappointed in his former White House advisor and

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Speaker 1: suggested he was suffering from Trump derangement syndrome, whatever that is.

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Speaker 1: He said he had asked Musk, who until two weeks

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Speaker 1: ago was running the Department of Government Efficiency, to leave Washington.

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Speaker 1: Mask who spent hundreds of millions of dollars to help

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Speaker 1: get Trump reelected, shot back on social media that Trump

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Speaker 1: was ungrateful and wouldn't be sitting in the Avial office

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Speaker 1: without his support straight number three. The breaking up of

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Speaker 1: the BroMans had an immediate effect on Risky Your Assets.

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Speaker 1: Bitcoin tumble to a one month low, back towards one

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Speaker 1: hundred thousand US dollars a unit. Trading volume whims in

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Speaker 1: Tesla surged, with analysts saying fears that Trump will take

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Speaker 1: retribution on Musk via removing government contracts with Tesla triggered

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Speaker 1: investors to sell first ask questions Later, the Electric Vehicles

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Speaker 1: Group's share price closed down more than fourteen percent, raising

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Speaker 1: about one hundred and fifty three billion US dollars from

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Speaker 1: a small capitalization. For his part, Elon Musk lost about

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Speaker 1: thirty four billion US dollars in personal wealth, the second

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Speaker 1: largest loss ever daily loss ever. According to Bloomberg's Billionaires

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Speaker 1: List story number four, the Aussie dollar has hit a

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Speaker 1: six month high, pushing up the sixty five point three

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Speaker 1: seven US cents this morning before dropping back at touch,

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Speaker 1: staying above that sixty five US cent level. The greenback

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Speaker 1: weekend against a basket of currencies overnight, amid softer than

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Speaker 1: expected doubless claims data and ongoing concerns about the impact

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Speaker 1: of US President Donald Trump's tax bill and finally, sorry

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Speaker 1: number five, donald Trump's getting a very big run today.

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Speaker 1: He and Chinese President Jijing Ping spoke for ninety minutes

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Speaker 1: overnight and agreed to further trade talks aimed at resolving

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Speaker 1: disputes over tariffs and supplies of rare earth minerals. Trump

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Speaker 1: acknowledged the trade relationship with China had gotten his quote

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Speaker 1: a little off track end quote, but added, We're in

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Speaker 1: good shape with China and the trade deal. Additional negotiations,

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Speaker 1: Trump said would occur shortly at a location to be determined.

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Speaker 1: There's hope that the call will reduce tariffs, though, in

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Speaker 1: a sign of Wall Street's wariness of anything Donald Trump

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Speaker 1: says nowadays, the market moved very little after the news

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Speaker 1: of the car was reported. That's it for the afternoon

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Speaker 1: report for Friday, the sixth of June twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast. We will

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Speaker 1: be back to ro own morning with the weekend edition

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Speaker 1: of Fear and Greed Business News. I'm Sean Elmer. Enjoy

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Speaker 1: your evening,