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Speaker 1: Welcome to Fear and Greed. Business News Afternoon Report for Wednesday,

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Speaker 1: the twenty second of January twenty twenty five. I'm Sean Elmer.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about. Story number one. The

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Speaker 1: local share market hit a seven week inter day high today.

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Speaker 1: It's only one percent of its all time high at

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Speaker 1: the close. Basically investors like what they're hearing from Donald Trump.

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Speaker 1: The market closed up zero point three percent to eighty

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Speaker 1: four hundred and thirty points. Uranium stocks did best, closely

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Speaker 1: followed by the tech stocks. The big miners are the underperformers.

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Speaker 1: Tech stocks jumped on the news that Donald Trump is

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Speaker 1: committing hundreds of millions of dollars to more data centers.

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Speaker 1: He's calling it the Stargate Project. He's got some big

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Speaker 1: partners in there that helped the local tech stocks. Whistet, Global, Promedicus,

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Speaker 1: and Zero all led the large caps. Commonwealth Bank and

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Speaker 1: Macquarie weren't that far behind. Mineral Sans Group by Luca

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Speaker 1: Dove after a disappointing quarterly production report. Uranian minor Paladin

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Speaker 1: jumped sharply after output for the December quarter met expectations,

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Speaker 1: and Beach Energy share price rose after its December quarter

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Speaker 1: production report. Story number two, New South Wales police have

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Speaker 1: arrested a man for allegedly spray painting swastikas and trying

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Speaker 1: to set fire to a synagogue, just as federal police

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Speaker 1: claimed that foreign actors could be paying local criminals to

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Speaker 1: commit anti Semitic acts. Yesterday, Australian Federal Police Commissioner Rhyes

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Speaker 1: Kershaw said police were looking into the possibility that overseas

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Speaker 1: parties had paid local criminals. Prime Minister Anthony Alberanisi today

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Speaker 1: wouldn't be drawn following the National Cabinet meeting last night.

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Speaker 1: He said that some of the perpetrators aren't being motivated

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Speaker 1: by ideology, but it seems they're just being paid. Not

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Speaker 1: quite clear where those payments are coming from. Story number three.

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Speaker 1: Donald Trump's push into oil and gas, which he announced

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Speaker 1: with much fanfare after his inauguration, has hit local energy

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Speaker 1: leader Woodside, with the group today pausing work on a

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Speaker 1: large scale hydrogen development and solar project. The pause came

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Speaker 1: just twenty four hours after mister Trump said there'd be

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Speaker 1: more drilling for oil and gas. Boss Meg O'Neil said

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Speaker 1: in the United States, free markets and capital markets sometimes

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Speaker 1: determine the pace of investment. As a result, Woodside is

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Speaker 1: pulling out some of its large scale hydrogen projects. It's

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Speaker 1: still pushing ahead with other new energy, low carbon projects,

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Speaker 1: its Bow Ammonia project in the south of the US,

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Speaker 1: for example. Last year, Woodside brought a US L and

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Speaker 1: G project for about one point two billion dollars. It

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Speaker 1: needs to decide by March whether or it's going to

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Speaker 1: go ahead with that now. Obviously demand for energy is

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Speaker 1: growing in the US. Donald Trump's new rules could well

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Speaker 1: and truly help this project. So Woodside is being benefited

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Speaker 1: from some Donald Trump's policies, but perhaps not others. Its

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Speaker 1: share price closed down two percent today Storry number four.

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Speaker 1: Plenty going on in global markets, and mostly it's about oil,

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Speaker 1: and it's good news at least at the petrol bowser.

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Speaker 1: Donald Trump wants to drew it for more oil. We're

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Speaker 1: just talking about that. That means more supply, and that

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Speaker 1: pushes down futures pricing. Brent crude's back blows seventy nine

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Speaker 1: US dollars a barrel, goals, pushing back towards record levels,

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Speaker 1: trading around twenty seven to fifty US dollars announce in

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Speaker 1: a volatile trump oild goal is not a bad place

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Speaker 1: to put your money. I annoyed or is trading just

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Speaker 1: over one hundred dollars a ton and the Ausie dollars

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Speaker 1: back blow sixty three US cents and story number five.

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Speaker 1: The number of new homes being built is way below

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Speaker 1: the government's target, with just forty three thousand new dwellings

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Speaker 1: being built in the first three months of the National

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Speaker 1: Housing Accord. Now the figures are for the three months

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Speaker 1: ending September twenty twenty four from the Australian Bureau Statistics.

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Speaker 1: Forty three thousand, two hundred and forty seven dwelling commencements

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Speaker 1: took place. Now It's okay, it's up eight percent on

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Speaker 1: a year earlier, but the National Housing Accord plans for

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Speaker 1: one point two million new homes over five years from

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Speaker 1: the middle of last year. Canber is providing the States,

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Speaker 1: territories and local governments with about three and a half

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Speaker 1: billion dollars to make sure that happens. That means it

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Speaker 1: needs a run rate of about sixty thousand new homes

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Speaker 1: per quarter. It's only hit that twice in the last

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Speaker 1: eight years. Certainly, forty three thousand dwellings in the September

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Speaker 1: quarter is a long way behind. Therefore, there's a long

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Speaker 1: way to go. That's it for the Outernoon Report for Wednesday,

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Speaker 1: the twenty second of January twenty twenty five. Make sure

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Speaker 1: you hit follow on the podcast. We'll be back tomorrow morning.

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Speaker 1: It's a Thursday edition I Fear and Greed Business News.

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Speaker 1: I'm Sean Elmer and Joey Ready.