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Speaker 1: It's Tuesday, the tenth of February twenty twenty six. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes.

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Speaker 2: O'h.

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Speaker 1: Michael Thompson and good morning Sean Aylmer.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: Before we get into it, a reminder of course, that

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Speaker 1: if you are listening to this podcast on Spotify, you

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Speaker 1: might well be listening to it through the Daily Drive playlist,

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Speaker 1: which is going to disappear soon and it will make

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Speaker 1: it harder to find the Fast five. So make sure

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Speaker 1: you hit follow on the podcast today so that you

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Speaker 1: get your five business stories in five minutes every single day.

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Speaker 1: Story number one, Shawn. The local share market had its

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Speaker 1: best day in nine months yesterday. Tech and mining stocks

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Speaker 1: really pushed the S and PASX two hundred up nearly

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Speaker 1: two percent to eight hundred and seventy points.

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Speaker 2: Quite the turnaround from late last week. It followed a

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Speaker 2: rebound on Wall Street. The tech sector has been hit

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Speaker 2: hard recently, really really hard, but yesterday rebounded some good

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Speaker 2: news for long suffering tech investors. So companies like wy

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Speaker 2: Seat Global Zero, Next DC Tech one they've been hammered. Well,

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Speaker 2: they had a good day yesterday. The real estate stocks

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Speaker 2: also did well a little. Perversely, when interest rates are rising,

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Speaker 2: you would think that property companies wouldn't do so well

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Speaker 2: because of course they hold lots of debt. But the

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Speaker 2: early science this reporting season is the sectors holding up

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Speaker 2: pretty well. Companies like Center and Stockland, the more Owners

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Speaker 2: Charter Haall Group, they've done very well. Then there are

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Speaker 2: the miners. The gold diggers led the way yesterday, the

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Speaker 2: price of the precious metal pushback above five thousand US

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Speaker 2: dollars and ounce Newmont Evolution Mining Northern Star led the way.

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Speaker 2: By the close. About ninety percent of stocks were high yesterday.

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Speaker 1: Michael, Yeah, and the big four bank stocks have also

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Speaker 1: had a pretty decent run in recent sessions. Commonwealth Banks

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Speaker 1: now well and truly regained the mantle of biggest company

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Speaker 1: over BHP, but Westpac is now the asx's third biggest company,

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Speaker 1: followed by National Australia Bank and A and Z.

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Speaker 2: Yeah, so four of the top five companies are banks.

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Speaker 2: What's pretty incredible is Commonwealth Bank has come back in

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Speaker 2: the last week it had been sold on. Now the

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Speaker 2: big four banks make up twenty percent of the market.

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Speaker 2: The big three miners BHP, FORTESCW Middle three are about

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Speaker 2: eleven percent. The top twenty stocks comprise about fifty percent

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Speaker 2: of the market, so that really tells you if the

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Speaker 2: banks and miners are doing well, then the market's doing well.

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Speaker 1: Indeed, all right under story number two, Away from markets

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Speaker 1: into politics, it looks like there'll be a leadership spill

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Speaker 1: within the Federal Liberal Party by the end of the week.

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Speaker 1: Angus Taylor likely to challenge leader Susan Lee out.

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Speaker 2: Of a fry pain into the fire. Lee did a

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Speaker 2: deal with NAT's leader David Little Proud to keep the

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Speaker 2: coalition together on Sunday night. Very next day, Canberra was

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Speaker 2: above buzz with a spill rumor, or plenty of rumors.

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Speaker 2: In fact, by the end of the week. One of

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Speaker 2: the difficulties for the challenges is that Senate estimates are sitting.

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Speaker 2: That means senators are questioning bureaucrats and it's actually not

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Speaker 2: that easy to get all the Liberal MPs into a room.

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Speaker 2: This week, new momentum for a challenge has come on

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Speaker 2: the back of the Australian News poll shows Lee the

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Speaker 2: most unpopular major party leader in nearly twenty five five years.

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Speaker 2: The Newsport survey has a coalition primary vate on just

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Speaker 2: eighteen percent, one nation at twenty seven percent. Victorian Jane

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Speaker 2: Hume yesterday said the party needs to change course. Conservative

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Speaker 2: Senator Sarah Henderson said things need to be dealt with

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Speaker 2: this week.

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Speaker 1: Sean story number three. It feels like the Reserve Bank's

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Speaker 1: job just got a little bit harder because household spending

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Speaker 1: fell in December, complicating the overall economic picture and really

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Speaker 1: the future trajectory of interest rates.

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Speaker 2: Well you only got future trajectory out I know, so.

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Speaker 1: Ah, I nearly fell over that one. Thanks for drawing

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Speaker 1: attention to it.

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Speaker 2: The Australian household spending indicator from the ABS fell zero

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Speaker 2: point four percent. Now, it had a couple of strong months,

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Speaker 2: so people expected to pull back, but definitely not to

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Speaker 2: four Just looks like people are becoming a bit canny

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Speaker 2: when they're buying purchase buying stuff. So like Black Friday

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Speaker 2: sales Cyber Monday were really good, but it slowed down

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Speaker 2: before Christmas. Overall spending is about five percent. It just

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Speaker 2: means it's spending slowing a bit. And one of the

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Speaker 2: reasons the Reserve Bank wants to lift interest rates is

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Speaker 2: because spending by households was picking up. Makes it interesting.

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Speaker 2: One area they're not spending as much to back out

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Speaker 2: an alcohol now the tobacco probably reflects black market cigarettes

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Speaker 2: alcohol though people just aren't drinking as much and that's

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Speaker 2: hitting some of the retailers.

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Speaker 1: Okay, Story number four. Australia's high net worth investor population

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Speaker 1: has reached a record seven hundred and sixty thousand people

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Speaker 1: collectively holding more than four trillion dollars in investable assets,

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Speaker 1: according to Investment Trends.

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Speaker 2: That's right, so people with about more than ten million

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Speaker 2: dollars in assets grew by nineteen percent over the past

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Speaker 2: year to around thirty two thousand. That's the ultra high

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Speaker 2: versus the high net worth individuals. Where do they invest

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Speaker 2: their money? That's what I'm interested in. About half of

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Speaker 2: it is in listed assets, so that's shares here in Australia.

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Speaker 2: Shares overseas property is about quarter percent. What's interesting is

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Speaker 2: a big growth in private market, so I'm talking private equity,

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Speaker 2: venture capital, private capital. That's where people are increasingly putting

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Speaker 2: their market. The reach All show shows that about twenty

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Speaker 2: six percent of these really rich people have investment advice,

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Speaker 2: which I think is interesting because it means you know,

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Speaker 2: seventy four percent don't.

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Speaker 1: The research also shows does it show stumbled all over

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Speaker 1: that one, much like I stumbled earlier, and it feels

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Speaker 1: like I had to point that out last one story

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Speaker 1: Number five, The Super Bowl has been played, with the

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Speaker 1: Seattle Seahawks beating the New England Patriots in front of

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Speaker 1: an estimated one hundred million viewers. But really it was

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Speaker 1: all about the ads, wasn't it.

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Speaker 2: Absolutely a thirty seconds slot cost about ten million US dollars,

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Speaker 2: up from million US dollars last year. The Pringles ad

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Speaker 2: featuring Sabrina Carpenter seems to have plenty of support as

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Speaker 2: the best one. Personally. I like the Duncan Danus one.

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Speaker 2: It had quite the ensemble. Basically a reimagination of the

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Speaker 2: nineteen ninety seven movie Goodwill Hunting cameas from the stars

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Speaker 2: of Seinfeld, Friends, Family, Matters, Cheers. What was your favorite?

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Speaker 1: I think I like the Alexa ad featuring Cres Thamesworth

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Speaker 1: and all the ways that Alexa was going to kill him.

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Speaker 2: Yeah, I liked it.

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Speaker 1: It's great fun. Yeah indeed, Okay, that's it. The top

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Speaker 1: five business stories in five minutes. Thank you, Sean.

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Speaker 2: Thank you, Michael.

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Speaker 1: It's Tuesday, the tenth of February twenty twenty six, remembered

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Speaker 1: hit follow on the podcast and five minutes isn't enough.

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Speaker 1: You can find our longer daily show called Fear and

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Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and

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Speaker 1: that was the past five business news by Fear and Greed.

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Speaker 1: Have a great day.