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Speaker 1: Welcome to the Fear and Green Business YEWS Afternoon Report

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Speaker 1: for Tuesday, the fifth of November twenty twenty four. I'm

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

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Speaker 1: happened today that you need to know about. Storing Number one,

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Speaker 1: the Reserve Bank of Australia left interest rates on hold

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Speaker 1: at four point three five percent for the cash rate

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Speaker 1: this afternoon, following a two day board meeting. The Central

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Speaker 1: Bank stuck with its line that it won't rule anything

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Speaker 1: in and it won't rule anything out, Governor Michelle bullocks

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Speaker 1: and underlying inflation remains too high, even though headline inflation

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Speaker 1: is now within the central banks two to three percent

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Speaker 1: target reflecting energy rebates. Following the announcement, bond markets pushed

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Speaker 1: out the forecast timing for an interest rate cut. They

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Speaker 1: have currently priced in a forty one percent chance of

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Speaker 1: a reduction in February, though many economists think it could

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Speaker 1: be later. There was a little reaction from bond markets,

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Speaker 1: and the aud pushed slightly high to be trading just

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Speaker 1: under sixty six US cents. Story Number two. The SMPA

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Speaker 1: IS six two hundred closed down nearly half a percent

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Speaker 1: to eighty one hundred and thirty two points. Utilities and

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Speaker 1: financials were among the worst performers, in part reflecting that

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Speaker 1: interest rate decision and commentary afterwards, West Pack and Macquarie

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Speaker 1: both were off more than one and a half percent.

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Speaker 1: In fact, seventeen of the top twenty stocks were lower

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Speaker 1: by the close. The share price of Mineral Resources bounced

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Speaker 1: after the ten percent drop yesterday. That's after the board

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Speaker 1: found Chris Ellison acted without integrity. Well, bo Minrez was

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Speaker 1: up four percent today, so perhaps people aren't as worried

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Speaker 1: about that as they seen twenty four hours ago. And

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Speaker 1: last Ole Communities rose after HMC Capital took a two

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Speaker 1: point seven percent stake in the least Communities operator. It

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Speaker 1: was up seven percent, best of the top two hundred.

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Speaker 1: Story number three. The travel scandal isn't going away, with

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Speaker 1: a growing number of MPs saying flight upgrades should be banned.

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Speaker 1: Independence Allegra Spender and Helen Haynes said they'd canceled their

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Speaker 1: Quantas Chairman's Lounge membership and Virgin VIP memberships. Teel Independent

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Speaker 1: Menique Ryan she gave up the Chairman's Lounge because, as

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Speaker 1: she put it, of the insidious activities of lobbyists. With

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Speaker 1: an election due by May, it has not been a

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Speaker 1: major topic in question Time, perhaps because people in glasshouses

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Speaker 1: shouldn't throw stones. Story number four marks through in a

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Speaker 1: bit of a holding pattern globally ahead of the US

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Speaker 1: election that of course kicks off within the next few hours.

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Speaker 1: Apparently there was a late swing towards KRMLA Harris that's

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Speaker 1: put some pressure on Wall Street. The so called Trump trade,

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Speaker 1: which pushed up equities, the US dollar, bitcoin, and bond

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Speaker 1: yiels has been unwound. Just to touch. Gold is steady around,

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Speaker 1: trading around record high levels. Oil's higher after OPEC plus

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Speaker 1: agreed to push back its December production increase, and Iran

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Speaker 1: outlined possible responses to Israel's recent attacks. Brent is back

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Speaker 1: above seventy five years dollars a barrel worth mention is Nvidia,

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Speaker 1: just for a few hours today was again the biggest

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Speaker 1: company on Wall Street. It's now worth three point three

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Speaker 1: eight trillion US dollars jumped after an announcement that it

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Speaker 1: would replace Intel in the Dow Jones Industrial Average. That's

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Speaker 1: the top thirty stocks on Wall Street. Intel out in

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Speaker 1: video in that pushed up its share price. Apple's at

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Speaker 1: number two although I've got to say in after hours

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Speaker 1: trading that was reversed again, but still for a few

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Speaker 1: hours in video was the biggest company on Wall Street

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Speaker 1: story number five. European and US intelligence officials believe Russia

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Speaker 1: is behind a plan that would ultimately place incendiary devices

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Speaker 1: on planes to North America through air cargo shipments. According

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Speaker 1: to report on Bloomberg, authorities are taking the incidents seriously,

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Speaker 1: and intelligence agencies are expecting Moscow to try and stage

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Speaker 1: similar acts of sabotage in the future. An unnamed source

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Speaker 1: is quoted as saying Poland's National Prosecutor's Office said it's

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Speaker 1: investigating the alleged involvement of a foreign intelligence service in

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Speaker 1: sabotage activities on the territory of Poland and other European

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Speaker 1: Union member states. The Wall Street Journal reported earlier this

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Speaker 1: week on Moscow's alleged goal of ultimately targeting the US.

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Speaker 1: As part of an inquiry, authorities have arrested four people

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Speaker 1: linked to a sabotage group whose activities include sending parcels

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Speaker 1: containing camouflaged explosives and dangerous materials via courier companies to

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Speaker 1: countries in the EU and the UK. The parcels would

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Speaker 1: ignite or detonate during land or air transport. That's it

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Speaker 1: for the Afternoon Report for Tuesday, the fifth of November

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Speaker 1: twenty twenty four. Don't forget tit. Follow on the podcast

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Speaker 1: and find Fear and Greed on LinkedIn, Instagram, ex TikTok

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Speaker 1: and Facebook. Join Michael Thompson and I Tomorrow Morning for

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Speaker 1: Fast five by Fear and Greed. The top five business

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Speaker 1: stories you need to know is just five minutes. I'm

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Speaker 1: Sean Elmer. Enjoy reading