1 00:00:04,200 --> 00:00:07,040 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,120 --> 00:00:09,959 Speaker 1: for Thursday, the eleventh of December twenty twenty five. Oh 3 00:00:10,000 --> 00:00:12,559 Speaker 1: Michael Thompson, and every afternoon, we've got the five stories 4 00:00:12,600 --> 00:00:14,640 Speaker 1: that happened today that you need to know about. Let's 5 00:00:14,640 --> 00:00:16,640 Speaker 1: go a story number one. The S and P ASX 6 00:00:16,640 --> 00:00:20,280 Speaker 1: two hundred climbed zero point two percent today to eighty 7 00:00:20,400 --> 00:00:23,319 Speaker 1: five hundred and ninety two points. It started out a 8 00:00:23,320 --> 00:00:25,880 Speaker 1: lot stronger earlier in the day, fueled by the Fed's 9 00:00:25,960 --> 00:00:29,040 Speaker 1: decision this morning to cut interest rates in the United States, 10 00:00:29,400 --> 00:00:33,520 Speaker 1: but US tech company Oracle reported results then that fell 11 00:00:33,640 --> 00:00:36,159 Speaker 1: short of expectations, and it was sold off almost ten 12 00:00:36,200 --> 00:00:39,400 Speaker 1: percent in after hours trading, which then flowed through to 13 00:00:39,440 --> 00:00:41,680 Speaker 1: the local tech sector here and before you know what, 14 00:00:41,720 --> 00:00:44,159 Speaker 1: the ASX just ran out of puff Wise tech Global 15 00:00:44,159 --> 00:00:47,040 Speaker 1: and Live three sixty were both off two point two percent. 16 00:00:47,400 --> 00:00:50,279 Speaker 1: The big miners helped the boss, with BHP up one 17 00:00:50,280 --> 00:00:53,520 Speaker 1: point three percent, Rea Tinto one point eight percent, helped 18 00:00:53,560 --> 00:00:56,080 Speaker 1: buy that FED rate cut, and hopes of fresh stimulus 19 00:00:56,120 --> 00:00:59,360 Speaker 1: in China and increase in the gold price benefited Ozzie 20 00:00:59,400 --> 00:01:02,520 Speaker 1: gold miners as well, and as quickly the unemployment rate 21 00:01:03,000 --> 00:01:06,360 Speaker 1: held steady at four point three percent in November, but 22 00:01:06,560 --> 00:01:09,480 Speaker 1: twenty one thousand fewer people had jobs, which was a 23 00:01:09,480 --> 00:01:13,600 Speaker 1: fairway from economists forecasts for twenty thousand new jobs being created. 24 00:01:13,920 --> 00:01:15,920 Speaker 1: We'll have a lot more on this one tomorrow morning. 25 00:01:16,400 --> 00:01:18,759 Speaker 1: I'm just story number two now. And Prime Minister Anthony 26 00:01:18,800 --> 00:01:22,640 Speaker 1: Abernezi has clashed with reporters about the ongoing saga over 27 00:01:22,720 --> 00:01:26,400 Speaker 1: travel entitlements for politicians. The PM was at a press 28 00:01:26,400 --> 00:01:29,840 Speaker 1: conference about the government's social media reforms, but instead was 29 00:01:29,920 --> 00:01:34,800 Speaker 1: grilled over revelations about Communications Minister Annika Wells taxpayer funded 30 00:01:34,800 --> 00:01:37,399 Speaker 1: trips that have been well canvassed over the last week 31 00:01:37,480 --> 00:01:41,200 Speaker 1: or two, and other politicians from both sides who've used 32 00:01:41,280 --> 00:01:45,720 Speaker 1: legitimate family reunion policies to fly family members around the country. 33 00:01:46,319 --> 00:01:49,480 Speaker 1: The Prime Minister said that the rules allowing politicians to 34 00:01:49,520 --> 00:01:51,639 Speaker 1: travel with family have been in place since the former 35 00:01:51,680 --> 00:01:54,640 Speaker 1: government and he hasn't changed them. And I quote, I 36 00:01:54,680 --> 00:01:57,520 Speaker 1: don't influence that from the top. I'm not the Finance minister. 37 00:01:57,680 --> 00:01:59,960 Speaker 1: I haven't changed the rule. What I've been focused on 38 00:02:00,200 --> 00:02:02,440 Speaker 1: this week, to be frank, is one of the biggest 39 00:02:02,480 --> 00:02:04,960 Speaker 1: reforms that we will do in the entire time that 40 00:02:05,040 --> 00:02:07,920 Speaker 1: we're in office. My focus is not on entitlements and 41 00:02:07,920 --> 00:02:11,840 Speaker 1: the Finance Minister rules. Sounds like the Prime Minister has 42 00:02:11,880 --> 00:02:16,160 Speaker 1: had enough. Story number three. Optus has been named Australia's 43 00:02:16,160 --> 00:02:20,400 Speaker 1: most distrusted telco, with Roy Morgan's Risk Monitor also listing 44 00:02:20,480 --> 00:02:24,840 Speaker 1: the whole telecommunications sector as the second most distrusted industry, 45 00:02:25,240 --> 00:02:29,519 Speaker 1: behind only social media. Optus's reputation has been batted first 46 00:02:29,560 --> 00:02:32,600 Speaker 1: by its twenty twenty two data breach and then by 47 00:02:32,639 --> 00:02:36,200 Speaker 1: this year's fatal outage. Telstra is next on the telco 48 00:02:36,440 --> 00:02:40,720 Speaker 1: distrust list, followed by Dodo and Huawei. One bright spot 49 00:02:40,720 --> 00:02:43,960 Speaker 1: I suppose you'd say for Optus's owner, its budget brander 50 00:02:44,040 --> 00:02:46,920 Speaker 1: Maysim has escaped the fallout and is one of the 51 00:02:46,919 --> 00:02:50,919 Speaker 1: most trusted brands in the sector, behind Ossie Broadband. Overall, 52 00:02:51,040 --> 00:02:53,519 Speaker 1: the telco industry, as I mentioned, is now the second 53 00:02:53,520 --> 00:02:57,200 Speaker 1: most distrusted sector in Australia behind social media, but it's 54 00:02:57,240 --> 00:03:02,360 Speaker 1: a head of supermarkets, mining, government and gambling. Story number four. 55 00:03:02,480 --> 00:03:07,440 Speaker 1: A skydiving flight over far North Queensland narrowly avoided disaster 56 00:03:07,720 --> 00:03:12,320 Speaker 1: after a parachuter's reserve chute snagged on the plane. A 57 00:03:12,400 --> 00:03:16,520 Speaker 1: report by the Australian Transport Safety Bureau today has revealed 58 00:03:16,520 --> 00:03:19,919 Speaker 1: details of the incident. The videos available online. If you 59 00:03:20,000 --> 00:03:23,560 Speaker 1: haven't seen it, check it out. It is really quite extraordinary. 60 00:03:23,760 --> 00:03:27,079 Speaker 1: The skydiver was climbing out of a Cessna caravan about 61 00:03:27,240 --> 00:03:31,400 Speaker 1: fifteen thousand feet over Tully in far North Queensland in 62 00:03:31,440 --> 00:03:35,400 Speaker 1: September when the reserve handled the handle for the reserve 63 00:03:35,480 --> 00:03:39,000 Speaker 1: chute at caught on the wing flap, deploying the chute, 64 00:03:39,200 --> 00:03:42,880 Speaker 1: dragging him essentially out of the plane onto the plane's tail, 65 00:03:42,960 --> 00:03:46,640 Speaker 1: where he was dangling. The plane kept flying. The pilot 66 00:03:46,680 --> 00:03:50,120 Speaker 1: managed to call them may Day thirteen skydivers still jumped. 67 00:03:50,200 --> 00:03:53,520 Speaker 1: The trapped skydiver eventually used a hook knife to cut 68 00:03:53,520 --> 00:03:57,520 Speaker 1: lines from the reserve chute, broke free, deployed the main 69 00:03:57,680 --> 00:04:01,680 Speaker 1: parachute and landed safely. The plane also got down safely. 70 00:04:01,760 --> 00:04:06,440 Speaker 1: It is a remarkable story of a terrifying near miss. Finally, 71 00:04:06,480 --> 00:04:09,640 Speaker 1: story number five, Elon Musk is edging closer to becoming 72 00:04:09,640 --> 00:04:13,760 Speaker 1: the world's first trillionaire, with talk his company SpaceX might 73 00:04:13,880 --> 00:04:17,919 Speaker 1: list on the stock market next year. Bloomberg reports SpaceX 74 00:04:18,040 --> 00:04:20,640 Speaker 1: is preparing an IPO that could value the rocket and 75 00:04:20,680 --> 00:04:24,440 Speaker 1: satellite company at around one point five trillion US dollars, 76 00:04:24,600 --> 00:04:27,239 Speaker 1: one of the biggest floats in history. At that price, 77 00:04:27,520 --> 00:04:31,440 Speaker 1: Musk's stake in SpaceX alone could be worth more than 78 00:04:31,480 --> 00:04:34,720 Speaker 1: six hundred billion US dollars, which would push his total 79 00:04:34,760 --> 00:04:39,280 Speaker 1: fortune to or beyond trillion dollars. There are some big hurdles. 80 00:04:39,279 --> 00:04:43,560 Speaker 1: SpaceX would need investors to buy into a fairly lofty valuation, 81 00:04:43,960 --> 00:04:46,760 Speaker 1: and as for his other big payday from Tesla that 82 00:04:46,839 --> 00:04:49,840 Speaker 1: could push him beyond that trillion dollar mark on its own, 83 00:04:50,520 --> 00:04:54,080 Speaker 1: the electric vehicle maker still has to hit extremely ambitious 84 00:04:54,120 --> 00:04:57,680 Speaker 1: profit and market value targets to justify a record pay deal. 85 00:04:58,200 --> 00:05:00,440 Speaker 1: And that's it for the afternoon report for the Thursday, 86 00:05:00,480 --> 00:05:03,120 Speaker 1: the eleventh of December. Make sure you're following the podcast 87 00:05:03,160 --> 00:05:05,800 Speaker 1: and head along to Fearandgreed dot com dot au to 88 00:05:05,839 --> 00:05:08,039 Speaker 1: sign up for our free daily newsletter. I'll put a 89 00:05:08,040 --> 00:05:10,239 Speaker 1: link in the show notes as well. I'm Michael Thompson. 90 00:05:10,480 --> 00:05:11,200 Speaker 1: Enjoy your evening.