1 00:00:03,900 --> 00:00:06,690 Sean Aylmer: Welcome to the Fear and Greed Afternoon Report for Monday 2 00:00:06,690 --> 00:00:11,039 Sean Aylmer: the 29th of May 2023. I'm Sean Aylmer. Every afternoon, we've got the 3 00:00:11,039 --> 00:00:13,079 Sean Aylmer: five stories that happen today that you need to know 4 00:00:13,080 --> 00:00:15,330 Sean Aylmer: about. Story number one. It was a much better day 5 00:00:15,330 --> 00:00:18,960 Sean Aylmer: on the share market today, with the S&P/ASX 200 finishing up nearly 6 00:00:18,960 --> 00:00:23,189 Sean Aylmer: 1% to 7, 217 points. It was higher up earlier 7 00:00:23,190 --> 00:00:24,870 Sean Aylmer: in the day on the back of relief about the 8 00:00:24,870 --> 00:00:27,810 Sean Aylmer: debt ceiling deal announced in the US over the weekend, 9 00:00:28,110 --> 00:00:30,990 Sean Aylmer: but fell back during trading. It was very broad based 10 00:00:30,990 --> 00:00:34,919 Sean Aylmer: though, with 75% of stocks rising. The notable laggards are 11 00:00:34,920 --> 00:00:37,440 Sean Aylmer: the tech stocks, which of course, have done very well 12 00:00:37,620 --> 00:00:40,290 Sean Aylmer: in recent sessions. Not sure that I've seen this before, 13 00:00:40,290 --> 00:00:44,490 Sean Aylmer: but the top nine companies, the big four banks, BHP, CSL, 14 00:00:44,490 --> 00:00:47,969 Sean Aylmer: Macquarie Bank, Woodside, and Fortescue Metals, all rose more than 15 00:00:47,969 --> 00:00:50,940 Sean Aylmer: 1%. There was plenty of corporate news around. AMP rose 16 00:00:51,598 --> 00:00:55,049 Sean Aylmer: more than 1%, announcing a series of executive changes and 17 00:00:55,050 --> 00:00:58,530 Sean Aylmer: flagging that it will dissolve its Australian wealth management structure. 18 00:00:58,800 --> 00:01:02,490 Sean Aylmer: Select Harvest climbed 6% after flagging improved conditions for its 19 00:01:02,490 --> 00:01:06,360 Sean Aylmer: 2024 crop. Humm Group jumped 10% after the Australian Securities 20 00:01:06,360 --> 00:01:10,080 Sean Aylmer: and Investments Commission revoked the stop order placed on Humm's 21 00:01:10,080 --> 00:01:15,000 Sean Aylmer: buy now, pay later subsidiary. IDP Education tumbled 16%, the 22 00:01:15,000 --> 00:01:18,119 Sean Aylmer: worst of the top 200, following Canada's decision to allow 23 00:01:18,120 --> 00:01:21,840 Sean Aylmer: competitors to enter the student direct stream component of student 24 00:01:21,840 --> 00:01:25,709 Sean Aylmer: visas, and ALS dropped 4%. Notwithstanding, it reported that it's 25 00:01:25,709 --> 00:01:30,300 Sean Aylmer: underlying net profit jumped 23%. Story number two, there are 26 00:01:30,330 --> 00:01:33,899 Sean Aylmer: holidays in the UK and on Wall Street tonight, so 27 00:01:33,900 --> 00:01:36,030 Sean Aylmer: there won't be a lot of equity market action responding 28 00:01:36,030 --> 00:01:40,020 Sean Aylmer: to the debt ceiling solution. However, one proxy is cryptocurrencies. 29 00:01:40,050 --> 00:01:43,559 Sean Aylmer: They always trade. Bitcoin today climbed to its highest level 30 00:01:43,559 --> 00:01:45,719 Sean Aylmer: in more than two weeks amid a boost to invest 31 00:01:45,719 --> 00:01:49,230 Sean Aylmer: a sentiment. It jumped more than 3% to above 28,000 32 00:01:49,230 --> 00:01:52,770 Sean Aylmer: US dollars a unit. Other smaller tokens also posted gains, 33 00:01:53,220 --> 00:01:55,470 Sean Aylmer: Bitcoin is now on a five- day streak of gains 34 00:01:55,470 --> 00:01:58,829 Sean Aylmer: in its best stretch since March. Another proxy for risk 35 00:01:58,950 --> 00:02:01,259 Sean Aylmer: is oil. It's also higher and aren't we seeing it 36 00:02:01,259 --> 00:02:03,420 Sean Aylmer: at the petrol bowser? And the Aussie dollar is buying 37 00:02:03,420 --> 00:02:07,680 Sean Aylmer: about 65.5 US cents. Story number three, damage reports have 38 00:02:07,680 --> 00:02:10,020 Sean Aylmer: come in after Melbourne was hit with a powerful 3. 39 00:02:10,020 --> 00:02:14,340 Sean Aylmer: 8 magnitude, just quite shortly before midnight last night. Fortunately, 40 00:02:14,340 --> 00:02:17,099 Sean Aylmer: there doesn't appear to be casualties. High- rise buildings were 41 00:02:17,099 --> 00:02:20,428 Sean Aylmer: shaking and mid- rolling tremors lasting around 20 seconds. According 42 00:02:20,429 --> 00:02:24,059 Sean Aylmer: to Geoscience Australia, the earthquake epicenter was in the Sunbury 43 00:02:24,059 --> 00:02:28,230 Sean Aylmer: region near Glenvale, about 30 kilometers north of Melbourne's CBD 44 00:02:28,440 --> 00:02:32,760 Sean Aylmer: in the airport vicinity. It occurred at 11:41 PM at 45 00:02:32,760 --> 00:02:35,519 Sean Aylmer: a depth of three kilometers and a magnitude of 3. 8. 46 00:02:35,758 --> 00:02:38,549 Sean Aylmer: People across the city woke to a thumping, roaring, sonic- 47 00:02:38,549 --> 00:02:41,520 Sean Aylmer: like boom, prompting families and friends to text each other 48 00:02:41,820 --> 00:02:44,970 Sean Aylmer: just to make sure everyone was safe. More than 20, 000 49 00:02:44,970 --> 00:02:47,820 Sean Aylmer: people across the whole Metropolis reported feeling the tremors to 50 00:02:47,820 --> 00:02:52,559 Sean Aylmer: Geoscience Australia. Story number four, financial services' Minister Steven Jones 51 00:02:52,559 --> 00:02:55,198 Sean Aylmer: says the government is looking to partner with private companies 52 00:02:55,410 --> 00:02:58,859 Sean Aylmer: to build disaster resilience and improve the affordability of insurance. 53 00:02:59,070 --> 00:03:03,270 Sean Aylmer: Speaking at the Actuary's Institute Conference in Sydney, Jones said 54 00:03:03,270 --> 00:03:06,870 Sean Aylmer: that as climate change worsens, its Australians least able to 55 00:03:06,870 --> 00:03:10,380 Sean Aylmer: afford insurance who are suffering the most. He also called 56 00:03:10,380 --> 00:03:13,169 Sean Aylmer: on the insurance industry to up its game, recognizing clients' 57 00:03:13,169 --> 00:03:15,600 Sean Aylmer: work to minimize the risk of damage to their homes. 58 00:03:16,169 --> 00:03:18,840 Sean Aylmer: He said by doing this, insurers can play in helping 59 00:03:18,840 --> 00:03:22,888 Sean Aylmer: address under insurance, non- insurance, and the affordability of protection. 60 00:03:23,220 --> 00:03:26,400 Sean Aylmer: And finally, story number five, Russian forces pounded Ukraine's capital 61 00:03:26,400 --> 00:03:30,208 Sean Aylmer: Kyiv overnight in what local officials described as the largest 62 00:03:30,210 --> 00:03:33,958 Sean Aylmer: kamikaze drone attack since Moscow launched its full scale invasion 63 00:03:33,960 --> 00:03:36,900 Sean Aylmer: of the country 15 months ago. Officials said Ukraine's air 64 00:03:36,900 --> 00:03:41,339 Sean Aylmer: defense systems had downed 58 of 59 incoming drones launched 65 00:03:41,340 --> 00:03:45,809 Sean Aylmer: against Ukrainian targets, with 40 downed in Kyiv alone. The 66 00:03:45,809 --> 00:03:48,240 Sean Aylmer: attack came as the city prepared for the annual Kyiv 67 00:03:48,240 --> 00:03:51,900 Sean Aylmer: Day celebrations, held to markets founding, as the 14th air 68 00:03:51,900 --> 00:03:54,329 Sean Aylmer: attack on the capital since the beginning of May. The 69 00:03:54,330 --> 00:03:56,610 Sean Aylmer: engines of the drones were audible following their air raid 70 00:03:56,610 --> 00:04:00,120 Sean Aylmer: sirens, followed by the sound of machine gunfire, surfaced to 71 00:04:00,120 --> 00:04:02,970 Sean Aylmer: where defense systems and the fighter jets seeking to intercept 72 00:04:02,970 --> 00:04:06,659 Sean Aylmer: them. Officials reported damage across the city. That's it for the 73 00:04:06,660 --> 00:04:10,080 Sean Aylmer: afternoon report for Monday the 29th of May 2023. Michael 74 00:04:10,080 --> 00:04:12,240 Sean Aylmer: Thompson and I will back tomorrow the morning with a 75 00:04:12,270 --> 00:04:15,480 Sean Aylmer: Tuesday edition of Fear and Greed. I'm Sean Aylmer. Enjoy 76 00:04:15,480 --> 00:04:15,870 Sean Aylmer: your evening.