1 00:00:03,720 --> 00:00:06,280 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,320 --> 00:00:09,000 Speaker 1: for Friday, the thirty first of January twenty twenty five. 3 00:00:09,320 --> 00:00:12,240 Speaker 1: I'm Adam Lang. Every afternoon, we've got the five stories 4 00:00:12,240 --> 00:00:14,600 Speaker 1: that happened today that you need to know about. Story 5 00:00:14,680 --> 00:00:18,000 Speaker 1: number one, Mining, real estate and tech stocs pushed the 6 00:00:18,040 --> 00:00:20,400 Speaker 1: local share market higher today, with the S and p 7 00:00:20,520 --> 00:00:23,480 Speaker 1: ASX two hundred finishing the day up zero point four 8 00:00:23,640 --> 00:00:26,800 Speaker 1: five percent to eighty five hundred and thirty two points. 9 00:00:26,960 --> 00:00:28,840 Speaker 1: It has been a very strong start to the new 10 00:00:28,880 --> 00:00:31,840 Speaker 1: calendar year, with the S and p ASX two hundred 11 00:00:32,120 --> 00:00:34,840 Speaker 1: up one point five percent for the week and four 12 00:00:34,880 --> 00:00:38,360 Speaker 1: point six percent just this month. Bhp N did higher, 13 00:00:38,400 --> 00:00:41,519 Speaker 1: as did Rio, Tinto, Goodman Group and Wistech Global as 14 00:00:41,560 --> 00:00:44,360 Speaker 1: well as zero. There appears to be less trepidation about 15 00:00:44,360 --> 00:00:47,240 Speaker 1: an outbreak of a US led tariff war, and that's 16 00:00:47,240 --> 00:00:50,000 Speaker 1: helping equities. It would have been an even better day 17 00:00:50,080 --> 00:00:52,080 Speaker 1: if not for the fall among the banks. Earlier in 18 00:00:52,120 --> 00:00:55,120 Speaker 1: the week, their share prices rose, but today all four 19 00:00:55,200 --> 00:00:58,480 Speaker 1: big banks and Macquarie were lower. Telstra was among the 20 00:00:58,480 --> 00:01:01,280 Speaker 1: worst of the large caps, dropped more than half a percent. 21 00:01:02,080 --> 00:01:05,480 Speaker 1: Story number two plenty is going on outside the share market. 22 00:01:05,760 --> 00:01:08,760 Speaker 1: The rally in bitcoin slowed somewhat today, with the crypto 23 00:01:08,920 --> 00:01:11,920 Speaker 1: until now fetching just under US one hundred and five 24 00:01:12,000 --> 00:01:15,360 Speaker 1: thousand a unit. The Aussie dollar, however, isn't having such 25 00:01:15,360 --> 00:01:17,319 Speaker 1: a good time, and it finished the week at around 26 00:01:17,360 --> 00:01:21,560 Speaker 1: sixty two US cents. Certainly, bond markets are still pricing 27 00:01:21,560 --> 00:01:23,200 Speaker 1: in a rate cut in the middle of next month. 28 00:01:23,240 --> 00:01:26,920 Speaker 1: In Australia, with all four big bank chief economists now 29 00:01:26,959 --> 00:01:29,399 Speaker 1: calling for a cut, the pressure is on the Reserve 30 00:01:29,440 --> 00:01:33,120 Speaker 1: Bank of Australia Board to provide some relief for mortgage holders. 31 00:01:33,640 --> 00:01:38,319 Speaker 1: Story number three. Australian based Nasdaq listed Atlasian's share price 32 00:01:38,680 --> 00:01:41,920 Speaker 1: surged nearly twenty percent this morning after a very strong 33 00:01:41,959 --> 00:01:45,839 Speaker 1: December quarter profit report. The company famously didn't have any 34 00:01:45,880 --> 00:01:49,240 Speaker 1: salespeople in its first decade of existence, but now chief 35 00:01:49,280 --> 00:01:52,440 Speaker 1: executive Mike canon Brooks is singing their praises. This is 36 00:01:52,440 --> 00:01:55,040 Speaker 1: according to a report in the Australian Financial Review. He 37 00:01:55,120 --> 00:01:57,720 Speaker 1: said the sales team had some massive customer wins during 38 00:01:57,760 --> 00:02:01,360 Speaker 1: the quarter. Atlassian's shares climbed nineteen and a half percent 39 00:02:01,760 --> 00:02:05,240 Speaker 1: to their highest level in almost three years, adding four 40 00:02:05,280 --> 00:02:08,320 Speaker 1: point one billion to the fortunes of both mister cannon 41 00:02:08,360 --> 00:02:12,919 Speaker 1: Brooks and co founder Scott Farquhar storing number four. National 42 00:02:13,000 --> 00:02:16,720 Speaker 1: Australia Bank is considering opening branches in shopping centers on 43 00:02:16,800 --> 00:02:19,640 Speaker 1: Sunday and will extend trading hours to all day on 44 00:02:19,720 --> 00:02:23,080 Speaker 1: Saturday to more than two dozen locations and that's starting 45 00:02:23,120 --> 00:02:26,040 Speaker 1: this weekend. If National Australia Bank opens on a Sunday, 46 00:02:26,040 --> 00:02:28,200 Speaker 1: it will be the first major bank to trade on 47 00:02:28,280 --> 00:02:32,520 Speaker 1: Sundays in decades. Both Commonwealth Bank and ANZ experimented with 48 00:02:32,560 --> 00:02:35,239 Speaker 1: opening some outlets on Sundays in the past. The Bank 49 00:02:35,280 --> 00:02:37,560 Speaker 1: said its decision to open branches on weekends was not 50 00:02:37,720 --> 00:02:40,320 Speaker 1: in response to political pressure and this is according to 51 00:02:40,320 --> 00:02:43,239 Speaker 1: the Australian Financial Review. Instead, it is in the hope 52 00:02:43,240 --> 00:02:47,960 Speaker 1: of increasing customer satisfaction scores After positive feedback from trials, 53 00:02:48,280 --> 00:02:51,280 Speaker 1: Labour and the Coalition have pushed banks to keep branches open, 54 00:02:51,480 --> 00:02:55,600 Speaker 1: although that effort has really been focused on keeping countrysides operating. 55 00:02:56,080 --> 00:02:58,800 Speaker 1: The last time there was significant competition at bank branches 56 00:02:58,800 --> 00:03:02,119 Speaker 1: on weekends was in two thousand and seven, when Commonwealth 57 00:03:02,120 --> 00:03:04,360 Speaker 1: Bank said it would open some on Sundays, and at 58 00:03:04,400 --> 00:03:07,880 Speaker 1: the time ANZ operated two branches on Sundays. CBA and 59 00:03:07,919 --> 00:03:10,920 Speaker 1: Westbak still operate a handful of branches on Saturdays, and 60 00:03:11,040 --> 00:03:13,840 Speaker 1: National Australia Bank has twelve and will now increase that 61 00:03:13,960 --> 00:03:18,720 Speaker 1: number by seventeen and storing number five. ResMed boss Mick 62 00:03:18,800 --> 00:03:22,160 Speaker 1: Farrell so the new Trump administration could be a tailwind 63 00:03:22,200 --> 00:03:26,200 Speaker 1: for the company, likely locking in a supportive taxation environment 64 00:03:26,480 --> 00:03:30,960 Speaker 1: while potentially imposing tariffs which would disproportionately hit its competitors. 65 00:03:31,639 --> 00:03:34,760 Speaker 1: Mister Farrell said, speaking both as chief executive of ResMed 66 00:03:35,120 --> 00:03:38,080 Speaker 1: and as chair of the industry lobby group ADVERMED, he 67 00:03:38,120 --> 00:03:40,839 Speaker 1: would prefer that medical devices be carved out of any 68 00:03:40,880 --> 00:03:43,880 Speaker 1: tariff regimes should they be implemented, and this is according 69 00:03:43,880 --> 00:03:47,480 Speaker 1: to reporting The Australian. But with RESMD manufacturing its sleep 70 00:03:47,520 --> 00:03:51,280 Speaker 1: health devices in jurisdiction such as Sydney, Singapore and the 71 00:03:51,400 --> 00:03:54,600 Speaker 1: US itself, the risk to the company from higher tariffs 72 00:03:54,600 --> 00:03:57,160 Speaker 1: on countries such as China was not as much of 73 00:03:57,160 --> 00:03:59,760 Speaker 1: a concern, and on the tax front, the likelihood that 74 00:04:00,240 --> 00:04:03,400 Speaker 1: is the present made in his twenty seventeen Tax Cuts 75 00:04:03,440 --> 00:04:06,560 Speaker 1: and Jobs Act, which set a flat corporate tax rate 76 00:04:06,600 --> 00:04:09,520 Speaker 1: of twenty one percent, would remain in place, with some 77 00:04:09,560 --> 00:04:11,680 Speaker 1: of those changes were due to expire this year, and 78 00:04:11,720 --> 00:04:14,360 Speaker 1: he said that was a positive. And that's it for 79 00:04:14,400 --> 00:04:16,920 Speaker 1: the afternoon Report for Friday, the thirty first of January 80 00:04:16,920 --> 00:04:19,840 Speaker 1: twenty twenty five. Make sure you hit follow on the podcast. 81 00:04:19,880 --> 00:04:22,520 Speaker 1: We'll be back tomorrow morning with the weekend edition of 82 00:04:22,560 --> 00:04:25,960 Speaker 1: Fear and Greed Business News. I'm Adam lang. Enjoy your evening.