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Speaker 1: Welcome to Fear and Greed business news you can use today.

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Speaker 1: Some of Australia's best known companies are among the worst

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Speaker 1: performing stocks on the ASX two hundred over the past year,

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Speaker 1: while the miners have been among the best. In twenty

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Speaker 1: twenty five. Fear of great hikes slams the local housing market,

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Speaker 1: and the Defense Department warns Australians about unexploded bombs ahead

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Speaker 1: of the holiday period. Class Communications Minister Anika Wells under

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Speaker 1: more fire over travel expenses and Netflix spies Warner Brothers.

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Speaker 1: It is Monday, the eighth of November. Brother December twenty

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Speaker 1: twenty five. I'm Michael Thompson and good morning, Sean ailemak.

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Speaker 2: Where where did November come from?

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Speaker 1: I don't know.

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Speaker 2: It was very left fist.

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Speaker 1: Sometimes it's a miracle if I get my name out right, Sean.

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Speaker 2: So for listeners out there, it is Monday, the eighth

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Speaker 2: of December. The main story, Michael, take it away.

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Speaker 1: Oh so I got distracted by the unexploded bombs story.

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Speaker 1: It was a We've got some good stuff coming up

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Speaker 1: the main story this morning, Sean. The Materials Index, including

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Speaker 1: the big miners and the gold companies, has been easily

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Speaker 1: the best performing sector on the ASX over the last year,

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Speaker 1: while healthcare and the tech indices have been the worst.

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Speaker 2: A title turnaround from last year when miners outside gold

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Speaker 2: could find very few friends of while tech stocks could

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Speaker 2: find very few enemies. Over the past year, though, the

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Speaker 2: Materials index on the AX, which includes the big three

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Speaker 2: miners and the gold stocks, it's up twenty one percent,

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Speaker 2: the Tech index is down twenty one percent. Health Care

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Speaker 2: is off twenty two percent. Now the healthcare is a

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Speaker 2: much smaller sector, and because CSL has done so poorly,

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Speaker 2: that has drag that one down. Financials always interested in

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Speaker 2: that twenty five to thirty percent of the market, driven

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Speaker 2: by the big banks lack luster year, the index flat

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Speaker 2: commof banks down three percent over the past twelve months.

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Speaker 2: It's very much weighed on the financials. The best performers

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Speaker 2: have been the gold stocks Regis Resources, Resolute Mining, Genesis,

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Speaker 2: Minerals Evolution. In fact, eight of the top ten performers

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Speaker 2: so far this year are gold or gold related stocks,

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Speaker 2: and that's thanks of course to these record goal prices.

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Speaker 2: But even the other mine is Michael Bagp up ten percent, Forestcu,

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Speaker 2: Meta Medals Rio, both up fifteen percent. Some of the

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Speaker 2: other better known companies away from the miners, generally Harvey

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Speaker 2: Norman Great Year up fifty percent, Challenger forty eight percent,

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Speaker 2: Telstra up twenty two percent, and pretty good dividend as well,

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Speaker 2: Transurban up fifteen percent or thereabouts. The best performer on

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Speaker 2: the market though, Michael, I'm on the ASX two hundred

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Speaker 2: the whole market a gold tidler called Dateline Resources. It

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Speaker 2: is up eight thousand, two hundred and thirty three percent

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Speaker 2: over the past year. It was point zero zero three

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Speaker 2: cents to share. It's now about twenty five cents to year.

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Speaker 2: In fact, it was one point it was up to

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Speaker 2: about sixty cents to share. So presume god, it was

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Speaker 2: running at about twenty thousand percent or something it's cost

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Speaker 2: since then.

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Speaker 1: How to have a crystal Huh, that's quite something. Not

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Speaker 1: exactly a household name, though. What about the flip side

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Speaker 1: to all of this? The worst performing stocks over the

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Speaker 1: past year.

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Speaker 2: Actually this is I think this is where it gets

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Speaker 2: interesting because many of the worst of the top twenty

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Speaker 2: are really well known companies, but it's not like there's

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Speaker 2: a theme through them, like all the strongest performers are

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Speaker 2: gold stocks. Clear worst performer Reese Plumbing. Second worst performer Treasury,

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Speaker 2: Wine Estates, Goozmani Gomez, James Hardy, Premiere Investments, Wise Tech Global,

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Speaker 2: bunch of reasons, poor performance in the US, corporate governance issues,

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Speaker 2: sell off of assets to previous overvaluation, previously all that

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Speaker 2: sort of thing. But I cannot remember a year when

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Speaker 2: the worst six stocks on the ASX two hundred. The

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Speaker 2: six I just mentioned were household names. The worst twenty

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Speaker 2: five of the ASEX two hundred. You can throw in

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Speaker 2: Dominoes and c Sel and Ario in Bendigo and Adelaide, Bank,

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Speaker 2: Flights and a Goodman Group. Quite amazing, how many high

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Speaker 2: profile companies they've done really poorly over the last twelve months.

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Speaker 1: Yeah, and big like CSL like that is that is

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Speaker 1: quite extraordinary?

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Speaker 2: Goodn't Yeah? In credible Wise Tech Global? Yeah, absolutely, all.

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Speaker 1: Right, Well, what can we expect? That's looking back? What

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Speaker 1: can we expect today from the share market when it open?

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Speaker 2: Future training suggests the market will start lower, even though

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Speaker 2: Wall Street was slightly higher over the weekend. A big

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Speaker 2: week in the lowercal market, with the Reserve Bank meeting

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Speaker 2: today and tomorrow or no one expects a rate change

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Speaker 2: announcement tomorrow, plenty of interest in what Governor Michelle Bullock

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Speaker 2: will say about inflation and the future trajectory of rates.

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Speaker 2: Bond markets are pricing in a rate hike before the

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Speaker 2: end of twenty twenty six. Also, the US FED meets,

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Speaker 2: it's expected to cut interest rates by zero point two

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Speaker 2: five percentage points. The world's most important central bank cut

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Speaker 2: last month, though there was a difference of opinion about

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Speaker 2: whether they should or shouldn't between the Fed governors, and

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Speaker 2: that will be carefully watched this time around.

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Speaker 1: The fear and greed the week ahead, I couldn't okay, Sean,

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Speaker 1: I'm having a shock.

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Speaker 2: A tough mourning.

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Speaker 1: I have so far lost track of the month that

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Speaker 1: we are in. I've lost track of the podcast that

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Speaker 1: comes up straight after this, which I recorded with Stephen Coculus,

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Speaker 1: our resident economists. I should know it. We are talking

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Speaker 1: about the week ahead, so we dig into all of

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Speaker 1: those things in terms of the RBA meeting, the FED meeting,

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Speaker 1: but also the labor force figures that come out on Thursday,

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Speaker 1: as well as something to keep an eye on that's

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Speaker 1: coming up after the show, so stick around for that.

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Speaker 1: The housing auction market. Sean has been given a bit

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Speaker 1: of a dose, bit of a taste of what higher

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Speaker 1: interest rates could do. With the preliminary auction clearance rate

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Speaker 1: falling to its lowest point.

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Speaker 2: In a year, with expectations growing that the Reserve Bank

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Speaker 2: has stopped cutting rates and fears that may lift borrow

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Speaker 2: or cost next year, the market, which has had a

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Speaker 2: pretty good spring, hit a wall. Just sixty three point

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Speaker 2: five percent of homes that went to watch across the

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Speaker 2: capital's last week were bought down from sixty eight I

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Speaker 2: went three percent a week earlier, will over seventy percent

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Speaker 2: last month. Sydney's result was particularly poor sixty one and

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Speaker 2: a half percent, Melbourne sixty five and a half, Brisbane

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Speaker 2: fifty five, Adelaide seventy one percent, which was actually pretty

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Speaker 2: poor for that city. Volumes will lower over the weekend

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Speaker 2: and basically they will keep tracking down the volumes according

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Speaker 2: to totality. It's just whether or not these the I

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Speaker 2: mean I mean probably overstating it's saying dire preliminary clearance rate,

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Speaker 2: but fairly poor given what we've seen in the last

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Speaker 2: few months.

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Speaker 1: I'd say dire By a comparison.

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Speaker 2: I think, okay, I'm happy to go with dire good.

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Speaker 1: I never shy away from melodrama, Sean. Anyway, we are

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Speaker 1: going to take a quick break. I'm gonna have a

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Speaker 1: cup of tea, get my head together back in a

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Speaker 1: moment with the rest of the day's business news, Sean.

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Speaker 1: Communications Minister Anika Wells is under the gun over her

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Speaker 1: use of public funds to take trips both locally and abroad,

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Speaker 1: but she does insist that who was working hard on

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Speaker 1: all all of the trips.

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Speaker 2: Yes, even the Prime Minister Anthony Alberanizi, fresh from his honeymoon,

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Speaker 2: had to defend her travel expenses yesterday. Wells has been

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Speaker 2: under scrutiny since the cost of the trip to New

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Speaker 2: York for her and two staff has came into one

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Speaker 2: hundred thousand. There were then reports she flew to Europe

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Speaker 2: three times in twenty twenty three twenty twenty four, at

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Speaker 2: the cost of almost one hundred and twenty thousand. The

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Speaker 2: finn Review then reported an Adelaide trip that included a

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Speaker 2: friend's birthday a cost of three thousand, six hundred and

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Speaker 2: eighty one dollars for flights, hotels, and chauffeur driven transport.

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Speaker 2: While yesterday The City Morning Harold said Wells build taxpayers

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Speaker 2: one three hundred and eighty nine dollars for her husband

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Speaker 2: and two of her three children to join her on

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Speaker 2: a work trip to the Threadboat ski fields. I get

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Speaker 2: that politicians work very hard, I think, and I feel

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Speaker 2: sorry for them the time of the way from family,

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Speaker 2: but pub test doesn't pass it. Wells insisted yesterday she'd

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Speaker 2: been working hard on all the trips and that they

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Speaker 2: are all necessar very Albertezy tell Abcas inside his program

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Speaker 2: that Wills had operated within the rules at least when

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Speaker 2: came to the New York trip.

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Speaker 1: Yeah, and this feels like one of those things that

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Speaker 1: once there is an element of this being reported, more

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Speaker 1: do tend to come out this than the eighteen hundred

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Speaker 1: dollars to attend the f one. It's yeah, it's not

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Speaker 1: looking good. And you feel a bit for the Prime

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Speaker 1: minister as well, coming back fresh from his honeymoon and

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Speaker 1: having to that's the last thing you want, right to

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Speaker 1: step straight into controversy.

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Speaker 2: I reckon, even when you're a Prime minister and you

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Speaker 2: get back to work day one, which he did yesterday,

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Speaker 2: you must just think, oh, really.

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Speaker 1: When can I book my next trip? So in the

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Speaker 1: latest Opinion poll. This would at least be some good

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Speaker 1: news for him right. The latest opinion poll, this one's

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Speaker 1: in the nine Entertainment newspapers, says that support for the

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Speaker 1: Coalition has crashed to a record low and support for

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Speaker 1: One Nation has hit a record high, which is now

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Speaker 1: becoming a familiar story.

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Speaker 2: It is the result of will monitor showed Labor has

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Speaker 2: a commanding fifty five forty five percent lead in a

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Speaker 2: two party preferred vote. Also showed that fears over Australia's

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Speaker 2: housing crisis and the cost of living are fueling frustration

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Speaker 2: over immigration, something that I'm sure the government will keep

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Speaker 2: an eye on. Labour's primary vote rows two percentage points

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Speaker 2: to thirty five percent. Coalition fell three to twenty six percent.

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Speaker 2: One Nation rows two percentage points to fourteen percent.

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Speaker 1: The Energy market regulator says households should pay lower electricity

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Speaker 1: prices between twenty twenty five and twenty thirty as long

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Speaker 1: as the energy transition continues along the government's planned path.

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Speaker 2: The Australian Energy Market Commission said the build out of

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Speaker 2: renewable generation, transmission and battery storage is essential to keeping

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Speaker 2: electricity prices affordable over the next decade. The good news

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Speaker 2: is that the regulator's base case is that prices will

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Speaker 2: fall around five percent over the next five years, supported

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Speaker 2: by renewable generation growth. However, if there's any slippage at

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Speaker 2: all in the rollout of renewables battery storage and transmission,

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Speaker 2: then households could face sharply higher prices. It called the

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Speaker 2: next five years a critical five year window as renewables

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Speaker 2: replace retiring coal fired power plants. We kind of know that,

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Speaker 2: but just the fact that the regulator, which is probably

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Speaker 2: the most sensible voice in the market, is not political saying,

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Speaker 2: if we can do what the government has it out

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Speaker 2: to do, we should be okay, now.

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Speaker 1: Chat GPT owner open Ai Sean will become the major

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Speaker 1: customer of a seven billion dollar data center to be

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Speaker 1: built by next DC that will be the biggest in

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Speaker 1: the Southern hemisphere.

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Speaker 2: This is exciting. Yeah, come on, Michael, Oh no, it is.

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Speaker 1: It is. I was actually just thinking though that those

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Speaker 1: two stories actually do kind of fit together because the

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Speaker 1: data centers and the increase in the number of data centers,

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Speaker 1: especially one as big as this, It uses so much power,

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Speaker 1: so much energy.

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Speaker 2: The data center will be used to run the artificial

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Speaker 2: intelligence models, tasks and queries of the growing number of

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Speaker 2: open ais Australian corporate clients. Now some of their corporate

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Speaker 2: clients big names like Comwealth Bank, West Farmers, fortes Keu,

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Speaker 2: Virgin Australia at Lassian. This is all according to the

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Speaker 2: fin Review. The center will be located in Western Sydney

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Speaker 2: and as part of Australia's push to become a regional

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Speaker 2: hub for data center investment already happening with some extent,

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Speaker 2: as demonstrated by the surge in business investment in data

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Speaker 2: centers during the September quarter. Open AI's chief executive Sam

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Speaker 2: Altman said Australia is will placed to be a global

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Speaker 2: leader in AI with deep technical talent, strong institutions and

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Speaker 2: a clear ambition to use new technology to lift productivity.

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Speaker 1: Mentioned this next one at the top of the show, Sean.

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Speaker 1: The Defense Department has urged the public to stay alert

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Speaker 1: to unexploded ordnance devices, some of which will date back

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Speaker 1: to World War Two. Now, when we received this one

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Speaker 1: late last week, it raised a few eyebrows because I

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Speaker 1: don't remember ever seeing a warning like this come through

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Speaker 1: from Defense.

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Speaker 2: No, I don't know that you pointed it out to

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Speaker 2: me because it's I mean, very interesting. So the Defense

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Speaker 2: said that unexploded ordnance devices uxos continue to pose a

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Speaker 2: risk to the communities around Australia, particularly when disturbed or moved.

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Speaker 2: Like you know, you see an old grenade, don't throw it.

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Speaker 2: I think that's what we're saying here. UXO is most

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Speaker 2: commonly found on or near former defense sites demolition ranges

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Speaker 2: fair enough, but also washed up on beaches. That's one

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Speaker 2: of the issues. The warning comes as some of holidays begin.

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Speaker 2: Of course, Defense wants people to be particularly careful in

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Speaker 2: areas with our history of military activity or following storms.

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Speaker 2: Defense have responded to over four hundred and fifty calls

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Speaker 2: regarding unexploded ordnance devices this year. As Defense puts it,

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Speaker 2: UXO include artillery shells, grenades, bombs, or other military munitions

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Speaker 2: that did not function as intended or when deployed. If they

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Speaker 2: were deployed in World War Two and they haven't exploited yet,

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Speaker 2: I think it's fair to say they didn't actually do

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Speaker 2: what they were supposed to do.

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Speaker 1: I love the fact that we are now supposed to

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Speaker 1: put this on the list of things to watch out

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Speaker 1: for when we go to the beach. Just keep an

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Speaker 1: eye up for blue bottles, sunscreen, sunscreen, unexploited ordnance devices

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Speaker 1: check check yep. Turning to international news, now sean big

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Speaker 1: story this one. Netflix is set to buy Warner Brothers

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Speaker 1: in an eighty three billion US dollar deal, beating out

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Speaker 1: Comcast and Paramount and really demonstrating just how much Hollywood

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Speaker 1: and big tech are really starting to merge.

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Speaker 2: So you sent me a story about this, and the

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Speaker 2: guy who was running Warner Brothers fifteen years ago kind

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Speaker 2: of poopered the idea that this mail out movie company

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Speaker 2: called Netflix would ever have you know much, it would

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Speaker 2: ever be a challenger to the great Warner Brothers. Yeah, well,

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Speaker 2: now Netflix is buying Warner Brothers. Absolute dramatic plot twist

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Speaker 2: for Netflix. Well done. Yeah, yeah, because they rewrote Hollywood,

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Speaker 2: because they basically just told people that they didn't have

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Speaker 2: to go to the cinemas anymore. You can watch movies

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Speaker 2: at home, watch television shows at home when you want them. Suddenly,

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Speaker 2: the thing it disrupted, it's now bought a mainstream studio Netflix.

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Speaker 2: It's been all about building stuff. So stranger Things Bridge

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Speaker 2: AND's a film like k Pop Demon Hunters. Haven't seen

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Speaker 2: that one, Michael, but I'm sure you have.

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Speaker 1: Yes, of course, anyone with young kids in their household

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Speaker 1: has seen it.

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Speaker 2: Multiple multiple times. Yeah, so they've built those sorts of shows.

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Speaker 2: Now they're going to gain access to Warner Brothers trave

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Speaker 2: of content. You know, we're talking things like Game of Thrones,

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Speaker 2: Harry Potter, the DC comics roster of superheroes, including Batman

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Speaker 2: and Superman. According to royd Is, the deal still needs

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Speaker 2: regulatory approval, lots of debt involved, not quite clear where

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Speaker 2: the synergies are, particularly until now, sort of Netflix has

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Speaker 2: been about building, not buying products. Even it's the Greek

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Speaker 2: Peace has spoke about that two months ago. But the

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Speaker 2: intent is clear. Now what this means for movie goers,

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Speaker 2: I reckon that's anybody's guess, because Netflix is the arch

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Speaker 2: enemy of moviegoers and or cinemas, and Warner Brothers, of course,

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Speaker 2: is a business built on movie going. I suppose it's

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Speaker 2: a bit like when Jeff Bezos brought the Washington Post.

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Speaker 1: Yeah, yeah, And like I said, and look, there has

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Speaker 1: been a commitment, well that Netflix has said, hey, we

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Speaker 1: are still going to be doing theater releases. But Netflix

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Speaker 1: has in the past unlimited theater releases where it's a

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Speaker 1: small kind of release rather than the full run of

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Speaker 1: screens right across the US and across the world. And

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Speaker 1: there's a lot of concern in Hollywood now that maybe

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Speaker 1: maybe it it might be a lot more limited theater releases.

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Speaker 1: And we saw on Friday that a lot of the

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Speaker 1: US theater chains like AMC Entertainment and I were all

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Speaker 1: their shares were down kind of as much as eight

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Speaker 1: percent on Friday because of that.

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Speaker 2: Yeah, concern, Yeah, I mean, and it still has to

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Speaker 2: get through lots of regulatory hurdles, but really interesting.

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Speaker 1: Yeah, yeah, it certainly is. Anyway. Up next Fear and

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Speaker 1: Greed Q and A, it's the week Ahead with Stephen Cacoulis.

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Speaker 1: It's coming up in the Fear and Greed playlist on

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Speaker 1: your podcast platform or at Fearangreed dot com dot au.

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Speaker 1: Thank you very much, Sean, Thank you.

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Speaker 2: Michael.

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Speaker 1: It's Monday, the eighth of December twenty twenty five. Make

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Speaker 1: sure you're following the podcast and please join us online

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Speaker 1: on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson

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Speaker 1: And that was Fear and Greed. Have a great day.