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Speaker 1: Android outdoes Apple and smartphone sales in Australia, and one

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Speaker 1: of the biggest hurricanes ever to hit Florida is due

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Speaker 1: to make landfall tonight. Welcome to Fear and Greed. Daily

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Speaker 1: business news for people who make their own decisions. It

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Speaker 1: is Wednesday, the ninth of October twenty twenty four. Are

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Speaker 1: Michael Thompson and Good Morning, Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: The main story this morning A bit of good news. Really. Finally,

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Speaker 1: the consumer mood is starting to pick up, with sentiment

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Speaker 1: now at its highest level since the Reserve Bank started

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Speaker 1: cutting rates in May twenty twenty two.

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Speaker 2: The Westpac Melbourne Institute of Consumer Sentiment Index rose six

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Speaker 2: percent over the past month to eighty nine point eight points,

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Speaker 2: and while any reading below one hundred is still negative Michael,

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Speaker 2: it's much better than any reading anytime Recently. Slowing inflation,

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Speaker 2: prospects of no more rate hikes, coupled with plenty of

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Speaker 2: government spending and a resilient labor market have all helped

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Speaker 2: push consumer conference higher. The Stage three tax cuts undoubtedly

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Speaker 2: would have helped as well. Consumers are more positive about

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Speaker 2: the future, but family finances versus a year ago is

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Speaker 2: deeply negative, coming in at seventy three point eight points

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Speaker 2: compared to the long run average of eighty three points.

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Speaker 2: The other data point economists like to look at is

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Speaker 2: now a good time to buy a household item? Well,

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Speaker 2: that reading sets eighty five point one points historical averages

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Speaker 2: one hundred and twenty four points. That ain't so good.

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Speaker 2: The good time to buy a dwelling reading was higher,

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Speaker 2: though it's still negative. Consumers really have been a miserable

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Speaker 2: bunch for the past couple of years. While we can't

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Speaker 2: quite say they're happy, they are certainly a bit less grumpy,

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Speaker 2: and in fact we might even have to say they're

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Speaker 2: happier and that is good for the economy.

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Speaker 1: But they're still negative, really though, aren't they?

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Speaker 2: They are? But the trend is your friend, Mike. We

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Speaker 2: always talk about that, And finally we seem to be

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Speaker 2: getting over our malay. Is that the word? Yeah? You know,

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Speaker 2: we're all grumpy, yeah, malay, and just starting to look

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Speaker 2: be a bit more positive about the next six to

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Speaker 2: twelve months.

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Speaker 1: We've turned a positivity corner Sean, and business confidence is

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Speaker 1: also improving.

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Speaker 2: Yeah, so both conditions and confidence have ticked up. According

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Speaker 2: to the National Australia Bank Business surveys. However, the trend

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Speaker 2: line and that one is still down now. Business conditions

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Speaker 2: in particular, and I suppose to a lesser extent confidence,

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Speaker 2: have been in positive territory for most of the past decade,

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Speaker 2: except in the COVID period that seems to be changing,

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Speaker 2: with leading indicators such as forward orders softening. The price

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Speaker 2: measures are always worth looking at big one for STEAMH.

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Speaker 2: Gaculis loves these. They show that while input price growth

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Speaker 2: for companies remain a bit elevated, output price growth is

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Speaker 2: back to more normal levels. Ie. It suggests inflation is

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Speaker 2: definitely slowing and that is a good thing.

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Speaker 1: Just on the consumer sentiment, I love that we say

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Speaker 1: that they consumers, forgetting that we are in fact consumers ourselves.

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Speaker 1: So we kind of need to bunch ourselves, group ourselves

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Speaker 1: in with the miserable bunch here, don't we saw?

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Speaker 2: Yeah, well some are more miserable than others, Michael, Let's

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Speaker 2: put it that way.

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Speaker 1: Feels very much targeted, a little pointed, somewhat personal. Let's

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Speaker 1: move on to local markets, shall we. What happened yesterday?

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Speaker 2: The S and PA six two hundred finished down zero

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Speaker 2: point three five percent to eighty one hundred and seventy

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Speaker 2: seven points. The mining stocks led the way lower on

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Speaker 2: a falling iron or price. For Skew middles Group was

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Speaker 2: the worst performer of the ASEX two hundred, dropping more

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Speaker 2: than five percent. BHP was down nearly two and a

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Speaker 2: half percent, would so I dropped more than one percent.

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Speaker 2: Other poor performers included QB and Telstrum. CSL was among

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Speaker 2: the best performers, jumping one point three percent, while all

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Speaker 2: the big banks were high. Lithium stocks continued to rally

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Speaker 2: on the back of Rio Tinto's proposed bid for arcadium,

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Speaker 2: which will be as much as nine billion dollars, where

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Speaker 2: sou Afracan Resources jumped seven percent, recouping some of Monday's

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Speaker 2: eighteen percent slump. Amid concerns about the future of its

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Speaker 2: mining permits in Bikina Faso, the company came out yesterday

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Speaker 2: and said it had received confirmation from the country's Ministry

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Speaker 2: of Minds and Quarries that none of its mining permits

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Speaker 2: were under review. It was the best performer of the

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Speaker 2: top two hundred yesterday.

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Speaker 1: Now, Sean, you've got a great interview coming up after

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Speaker 1: the show, and I found this one fascinating. You're talking

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Speaker 1: with Dushco Badjik, who is the head of Australian equities

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Speaker 1: Growth at First Centire Investors.

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Speaker 2: A bit of a guru on tech stocks is Dushco,

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Speaker 2: and so we ask him what he thinks of Weisstech Global,

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Speaker 2: which is the market leader. But we go into quite

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Speaker 2: a bit of detail. Now, the argument with weistech is

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Speaker 2: that it's too expensive. Good growth prospects, but too expensive.

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Speaker 2: So we asked Dushko what he thinks about that, and

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Speaker 2: he gives the pluses and minuses of that. We also

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Speaker 2: talk about Promedicus, the medical imagery and company, the cloud

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Speaker 2: accounting company zero what he looks for in tech stocks.

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Speaker 2: It's a fantastic chat.

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Speaker 1: Yeah, it really is, so stick around for that one.

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Speaker 1: It's coming up after the show. What's happening in the

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Speaker 1: international market, Sean Well.

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Speaker 2: Michael, there were very high expectations for more big announcements

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Speaker 2: from Beijing to help stimulate the world's second largest economy.

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Speaker 2: For hours beforehand, the media was waiting something big was

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Speaker 2: going to happen.

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Speaker 1: Baited breath, would you say baited breath collective beate of breaths.

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Speaker 1: It turned up the Chinese officials turned up.

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Speaker 2: Nothing happened. Basically, no real stimulus forthcoming. There was a

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Speaker 2: very very minor announcement, but you could just sort of

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Speaker 2: feel the disappointment and it triggered it sell off a

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Speaker 2: nine ore prices, pulling down the local mining stocks. As

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Speaker 2: we mentioned, we also had the World Bank coming out

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Speaker 2: and saying it expects China's growth to deteriorate next year

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Speaker 2: despite its recent stimulus measures, weighing on growth prospects for

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Speaker 2: neighboring countries such as Australia. WILL Bank reckons that China

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Speaker 2: will expand by four point eight percent this year, which

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Speaker 2: is actually a little lower than the five percent forecast

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Speaker 2: from Beijing. Will Bank records it will be four point

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Speaker 2: three percent next year. Now, the Chinese share market jumped

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Speaker 2: on reopening after that week long public holiday, and then

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Speaker 2: there's no major announcements and then it's sort of stumped again. Otherwise,

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Speaker 2: oil prices, having run for five days straight, have come

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Speaker 2: off with Brent backblow eighty US dollars a barrel goals

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Speaker 2: fallen as traders paired expectations of interest rate cuts in

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Speaker 2: the US, and the Aussie dollars trading under sixty eight

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Speaker 2: US cents.

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Speaker 1: Can you imagine being the official sent out to deliver

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Speaker 1: a less than exciting stimulus announcement when everyone is there waiting,

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Speaker 1: really excited, expecting something huge. Sorry, oh god, they've sent

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Speaker 1: out Darren. This is going to be so good, is it? Anyways,

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Speaker 1: gets the bad news for old Darren.

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Speaker 2: Yeah, anyways, Darren like the equivalent to Karen.

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Speaker 1: I'm assuming son Darren's and I really like them, so

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Speaker 1: I'm feeling bad about that, but I'm going with it.

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Speaker 2: Darren aarons.

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Speaker 1: It is the first home that came into my head.

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Speaker 2: I'm sorry.

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Speaker 1: I apologize to any Darren who are offended by the

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Speaker 1: comparison to Karens. Anyway, Gosh, we're going on some tangents,

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Speaker 1: don't we. Let's get back on track. We'll be back

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Speaker 1: in a moment with the rest of the day's business news.

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Speaker 1: Sean Prime Minister Anthony Abernezi says one thousand, two hundred

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Speaker 1: and fifteen Australians, permanent residents and their immediate family members

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Speaker 1: have been assisted by the government to leave Lebanon.

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Speaker 2: There are two flights out of the area on Saturday too,

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Speaker 2: on Sunday two. On Monday, there are another three thousand,

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Speaker 2: eight hundred and ninety two Australians in their immediate family

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Speaker 2: members registered to depart, with two flights scheduled to leave

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Speaker 2: Beirute overnight. Meanwhile, the Prime Minister has condemned mass terror

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Speaker 2: attacks on Israel and called for an immediate ceasefire and

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Speaker 2: the release of the remaining hostages. In a motion in

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Speaker 2: the House of Representatives, condemned the murder and violence of

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Speaker 2: the attacks on October seven last year, when twelve hundred

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Speaker 2: innocent Israelis lost their lives. Mister Alberenzi said Parliament stood

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Speaker 2: against all forms of anti Semitism, but the Opposition didn't

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Speaker 2: support the motion that Prime Minister Anthony Albernizi put forward.

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Speaker 2: Opposition Leader Peter Dutton said the Prime Minister was seeking

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Speaker 2: to walk both sides of the street in the device

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Speaker 2: of debates surrounding tensions in the Middle East.

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Speaker 1: And Sean Somewhat riled prime Minister was forced to apologize

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Speaker 1: in Parliament yesterday after he accused Shadow Treasurer Angus Taylor

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Speaker 1: of having Turet syndrome.

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Speaker 2: Mister Albanese was asked if he would rule out any

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Speaker 2: changes to the tax treatment of the owner occupied family

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Speaker 2: home into negative gearing by mister Taylor in question time.

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Speaker 2: Now there are plenty of immediate interjections from the outset,

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Speaker 2: and the Prime Minister blamed the opposition for blocking Labour's

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Speaker 2: housing policy. He went on to say, and I quit

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Speaker 2: this nonsense that they carry on with. Have you got

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Speaker 2: Turet's or something? You know? You sit there babel babbel, babbel,

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Speaker 2: misraim and easy then with Drewy's comment and apologized. Earlier,

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Speaker 2: treasure Jim Chalmers said Labor would not knock off the

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Speaker 2: current tax breaks in any new housing policy. Just before

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Speaker 2: we leave camera, an interested observer yesterday was former British

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Speaker 2: Prime Minister Liz Truss, who attended question time as a

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Speaker 2: guest of Opposition leader Peter Dunn.

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Speaker 1: It's an odd guest to have in Parliament. It makes

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Speaker 1: makes sense.

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Speaker 2: Conservative British prime minister them fifty days. I think she lasted,

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Speaker 2: Liz trusts.

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Speaker 1: Yeah, fortune she was outlasted, of course, remembered by that lettuce.

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Speaker 1: And I mentioned this because yesterday there was a plaque

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Speaker 1: erected outside the Tesco supermarket where the lettice was purchased.

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Speaker 1: Is that right, Yes, that's right. It is a it's

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Speaker 1: a blue plaque. You know what, I'm going to put

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Speaker 1: a link to this plaque and that story and the

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Speaker 1: original video in the Fear and Greed newsletter. Ah great

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Speaker 1: idea which comes out this morning. So if you haven't

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Speaker 1: already signed up, head along to Fear and Greed cood au.

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Speaker 1: And there's a lot more stuff than just a link

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Speaker 1: to a lettuce plark there is, so head along to

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Speaker 1: the website Fearinggreen dot com. Toda are you and sign

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Speaker 1: up for the newsletter or come out in a few hours,

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Speaker 1: So you better jump on that right now. Shown All

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Speaker 1: options remain on the table for the Reserve Bank in

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Speaker 1: terms of interest rate deliberations, according to the Board minutes

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Speaker 1: released yesterday, and.

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Speaker 2: That means another interest rate hike is still a live option.

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Speaker 2: The Reserve Bank Board minutes for it September meeting said

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Speaker 2: there is still considerable uncertainty of the economy's outlook, and

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Speaker 2: future financial conditions might need to be either tighter or

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Speaker 2: looser than at present to achieve the board subjectives. If

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Speaker 2: household consumption picks up strongly due to the Stage three

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Speaker 2: tax cuts or the strong jobs market, the economy's supply

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Speaker 2: constraints might be greater than anticipated, and interest rates may

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Speaker 2: need to remain higher for longer or I quote tightened further.

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Speaker 2: The minutes also say, though that Montree policy may have

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Speaker 2: to be loosened if the economy proves to be weaker

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Speaker 2: than expected, causing a sharp reduction in inflation. Meanwhile, Deputy

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Speaker 2: Governor Andrew Houser was speaking yesterday. He said the Central

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Speaker 2: Bank was determined to bring down inflation and that he

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Speaker 2: genuinely doesn't know what the next move in interest rates is.

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Speaker 1: Shaan I mentioned this next one at the top of

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Speaker 1: the show. Nearly four million smartphones were sold in the

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Speaker 1: first half of twenty twenty four in Australia, up eight

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Speaker 1: percent from a year ago.

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Speaker 2: Of those sales, Android phones accounted for fifty six percent,

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Speaker 2: while Apple took out the remaining forty four percent. According

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Speaker 2: to smartphone analyst tell Site, tell Site expects total smartphone

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Speaker 2: sales to reach eight point seven billion units for the

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Speaker 2: full year, which would be up seven percent on last year. Now, Michael,

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Speaker 2: I thought that was an extraordinary, extraordinarily large number.

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Speaker 1: How many did you say, ap point seven million?

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Speaker 2: Yeah, there are twenty six million Australians, so that suggests

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Speaker 2: one in three ozsies, man, woman and child gets a

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Speaker 2: new phone every year.

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Speaker 1: What, Yeah, I mean there's obviously some people that have

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Speaker 1: multiple phones.

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Speaker 2: Well I think drug dealers. Yeah, that didn't come to mind,

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Speaker 2: but yeah, yeah, I mean tell us, like I did say,

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Speaker 2: the customers are actually beginning to hang onto their smartphones

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Speaker 2: for longer. So in the sub one thousand dollar market,

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Speaker 2: the average life cycle is now four years. Premium smartphone

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Speaker 2: users replace their devices every three years. So I think

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Speaker 2: that all means that people now increasingly are holding more

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Speaker 2: than one smartphone device. And I'm not just talking about

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Speaker 2: the drug users. I'm talking about everyday people. Yeah. So yeah,

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Speaker 2: I just think that's quite incredible.

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Speaker 1: Really well, and Sean is actually a perfect opportunity to mention,

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Speaker 1: you know how every Wednesday we have the as Sister

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Speaker 1: podcast how do They Afford That?

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Speaker 2: Yeah?

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Speaker 1: Comes out and just bear with me. The link sounds

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Speaker 1: tenuous at the moment, but it is very, very clear

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Speaker 1: and very direct link. Today's episode is all about affordable

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Speaker 1: technology and we're joined in the studio by Stephen Fennick

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Speaker 1: from tech Guide dot com dot au and he's joined

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Speaker 1: us on Fear and Greed many times, but for today's

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Speaker 1: episode of how Do They Afford That? We are talking

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Speaker 1: about affordable technology and really diving into the world of smartphones,

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Speaker 1: going you don't need to spend eighteen hundred dollars to

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Speaker 1: buy a premium phone now that you can get things

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Speaker 1: for two hundred dollars, three hundred dollars up to five

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Speaker 1: hundred dollars that have got all of the big technological

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Speaker 1: developments of the last few years in terms of kind

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Speaker 1: of your face ID and your your multi lens cameras

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Speaker 1: and things. And Stephen goes to all of them and

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Speaker 1: gives you a bunch of different brands and things to

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Speaker 1: look at.

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Speaker 2: Did you explain why more Androids were sold than Apple's.

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Speaker 1: Well, yes, well, I mean, I mean, look, to be honest,

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Speaker 1: this was recorded before this piece.

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Speaker 2: Of numbers came out. Yeah, came out.

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Speaker 1: But Stephen does cover the fact that Samsung has a

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Speaker 1: lot more options within its range. So that whereas kind

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Speaker 1: of Apple has that premium product and a premium price

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Speaker 1: and it doesn't vary a huge amount from that, Samsung

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Speaker 1: has a lot of different options ranging from the premium

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Speaker 1: right down to more budget kind of levels, and so

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Speaker 1: I think that would kind of cover that.

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Speaker 2: I think. So I also think that some of the

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Speaker 2: Androids AI stuff came in earlier than Apple. I mean,

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Speaker 2: Apple's had a big announcement in recent weeks, but in

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Speaker 2: the first six months, Android was in front, and so

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Speaker 2: that probably helped us. Well.

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Speaker 1: Yeah, indeed, anyway, definitely worth a listen. Sean Now International

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Speaker 1: News Time hurricane warnings have been issued for portions of

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Speaker 1: West central Florida as Milton, a top tier category five

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Speaker 1: hurricane over the Gulf of Mexico, continues to rapidly gain strength.

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Speaker 2: The storm is expected to make landfall late on Wednesday

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Speaker 2: US time, that'll be really tomorrow morning our time, and

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Speaker 2: it's been called an extremely life threatening major hurricane that's

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Speaker 2: by the National Hurricane Center. The Center said it could

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Speaker 2: produce a potentially devastating ocean surge of over three meters

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Speaker 2: some areas, including flood prone Tampa Bay. According to report

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Speaker 2: in The Washington Post, Milton has the potential to be

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Speaker 2: one of the most destructive hurricanes on record in West

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Speaker 2: central Florida. That centers said the storm went from category

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Speaker 2: one to category five in just twenty four hours, quite

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Speaker 2: amazing how quickly it gained momentum. Peak winds are now

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Speaker 2: more than one hundred and fifty kilometers in our Milton

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Speaker 2: is the strongest goulf of Mexico hurricane on record for

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Speaker 2: this late in the year, and is among the three

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Speaker 2: strongest at any time.

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Speaker 1: Now sewn, Chinese authorities are demanding that a growing number

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Speaker 1: of school teachers and other public sector employees had in

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Speaker 1: their passports.

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Speaker 2: Yeah So the passport collection drive, carried out under what's

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Speaker 2: known as Personal Travel Abroad management, allows local government officials

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Speaker 2: to control and monitor who can travel abroad, how often

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Speaker 2: and to wear. According to report in the Ft, It

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Speaker 2: comes as President Jijing Ping steps up state involvement in

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Speaker 2: everyday life and clamps down on official corruption. China's powerful

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Speaker 2: state security apparatus has also intensified its campaign against foreign espionage.

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Speaker 2: Restrictions on international travel have been greatly expanded from last

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Speaker 2: year to include rank and file employees of schools, universities,

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Speaker 2: local governments, and state aimed groups. The passport collection appears

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Speaker 2: to be based on national regulations from two thousand and

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Speaker 2: three that established a system to restrict travel for key

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Speaker 2: personnel such as the mid to high level officials, and

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Speaker 2: allowed local authorities to set rules for all state employees

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Speaker 2: around international travel.

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Speaker 1: And finally, Sean Apple has backtracked on plans to release

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Speaker 1: major films in theaters and rather as pushing production back

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Speaker 1: towards streaming service.

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Speaker 2: Yeah, it's a real backflip for Apple. It comes after

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Speaker 2: the disappointing box office performance of a bunch of big

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Speaker 2: budget Apple films. Killers of the Flower Moon was one

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Speaker 2: Napoleon Argyll fly Me to the Moon. Apple canceled plans

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Speaker 2: to release Wolf's, which is an action comedy starring George

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Speaker 2: Clooney and Brad which I watched and found little action

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Speaker 2: and little comedy in anyway. Apple cancel plans to relieve

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Speaker 2: Wolfs in thousands of theaters globally. Instead, the picture made

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Speaker 2: its debut in a limited number of venues before it

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Speaker 2: became available on Apple TV plus, the streaming service late

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Speaker 2: last month. Now, according to Bloomberg, Apple plans to use

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Speaker 2: a similar approach with the next few titles on its calendar,

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Speaker 2: including the World War II drama Blitz. After spending upwards

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Speaker 2: of one hundred million dollars and in some cases more

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Speaker 2: than two hundred million dollars on some of those films

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Speaker 2: I just mentioned, Apple now focus on making about a

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Speaker 2: dozen movies a year, most of them produced for less

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Speaker 2: than one hundred million dollars according to the report, and

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Speaker 2: they'll go straight to streaming.

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Speaker 1: How about your savage movie reviews? Have you seen Wolf's No, No,

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Speaker 1: it's got.

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Speaker 2: George Clooney, It's got Brad Pitt's supposed to be great?

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Speaker 2: Oh what a yawn.

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Speaker 1: I've seen two of the other ones that you mentioned,

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Speaker 1: Argyle and fly Me to the Moon. I enjoyed them both.

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Speaker 1: Maybe some more generous soul than you.

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Speaker 2: So I saw Napoleon. I thought that was a bit

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Speaker 2: of drudgery and killers. The Flower Moon could have been

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Speaker 2: a great film. I saw that, but the focus was

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Speaker 2: very much on the main stars that the actual the

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Speaker 2: story of the Indians in the US. If it was

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Speaker 2: more about that, I would have loved that film. But

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Speaker 2: it wasn't. It was really more about white settlements, and

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Speaker 2: that was missed opportunity.

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Speaker 1: It was a miss for you. All right, Maybe we

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Speaker 1: should introduce a Sean's pick.

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Speaker 2: And what was fly Me to the Moon about? I'm

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Speaker 2: trying to remember that one.

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Speaker 1: So that is like the propaganda really behind the moon landing?

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Speaker 2: Ah wow, it was.

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Speaker 1: It was good fun. I just enjoyed it.

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Speaker 2: Yeah.

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Speaker 1: Yeah, and our Guyle was a great kind of action comedy. Anyway, like, seriously,

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Speaker 1: you don't want my movie reviews. Everything is great. I

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Speaker 1: loved it and it was just negative. So somewhere in

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Speaker 1: the middle is actually the truth, all right, Sean. Up

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Speaker 1: next is the Fear and Great Daily interview with Dushco Badgiic,

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Speaker 1: who is head of Australian Equities Growth at First Centire Investors.

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Speaker 2: We focused on three stocks, Wise Tech Global, Promiticus zero

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Speaker 2: pretty much the three big Australian tech stocks, and Disco

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Speaker 2: gives us a rundown of the good and the bad

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Speaker 2: of each were worth a listen.

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Speaker 1: Yeah, it is a really good chat. It is coming

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Speaker 1: out next in the Fear and Greed playlist on your

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Speaker 1: podcast platform or at Fearangreed dot com dot au. Thank you, Sean,

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Speaker 1: Thank you Michael. It's Wednesday, the ninth of October twenty

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Speaker 1: twenty four. Make sure you're following the podcast and please

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Speaker 1: join us online on LinkedIn, Instagram, x TikTok and Facebook.

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Speaker 1: I'm Michael Thompson and that was Fear and Greed. Have

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Speaker 1: a great day.