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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Thursday, the fourth of July twenty twenty four. I'm

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Speaker 1: Sean Almer. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Story number one,

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Speaker 1: s and PASX two hundred rows one point two percent today,

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Speaker 1: or ninety two points to seven eight hundred and thirty

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Speaker 1: three points, its highest level since June twenty five. The

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Speaker 1: miners were the stars of the show, with the Materials

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Speaker 1: index up more than two percent. Interest rate sensitive sectors

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Speaker 1: like the property and financial companies also did well. There

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Speaker 1: were some big movers among the large caps. BHP and

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Speaker 1: four toes Q both jumped around three percent, while Ria

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Speaker 1: Tinto was up two point six percent. Come Off Bank

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Speaker 1: let the banks higher, jumping two percent, while Goodman Group

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Speaker 1: rose two point one percent. The gold miners also did

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Speaker 1: well as the price of the precious metal rose. Not

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Speaker 1: so good was y Set Global. It fell nearly one percent.

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Speaker 1: In fact, it was the only top twenty stock to

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Speaker 1: go backwards today. Also, the coal companies pulled back somewhat.

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Speaker 1: They've had a good few days, a little bit of

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Speaker 1: profit taking going on. Story number two, first term. Senator

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Speaker 1: Fatima Payman has quit the Labor Party and will sit

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Speaker 1: on the Senate cross bench, meaning Labour will be left

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Speaker 1: with twenty five senators and will need fourteen further votes

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Speaker 1: to pass legislation. After crossing the floor in a Green's

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Speaker 1: motion recognizing Palestinian statehood last week, the Western Australian senator

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Speaker 1: had been suspended from Labour caucus meetings and held talks

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Speaker 1: with Prime Minister Anthony Alberanizi over recent days. Senator Payman's

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Speaker 1: move means she will join three other defectors on the

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Speaker 1: Senate cross bench. That's Lydia Thorpe, Tammy Tyrell and David Van.

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Speaker 1: It's been a turbulent few days for everyone involved. Senator Payman,

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Speaker 1: after formally quitting, said she'd been intimidated on many fronts

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Speaker 1: by Labor colleagues and people outside politics. Payment said she

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Speaker 1: faced stand up tactics and death threats over her decision

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Speaker 1: to cross the floor. Her conversations with the Prime Minister

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Speaker 1: were stern but fair, she said. Fatima Payment said debate

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Speaker 1: around the war between Israel and Hamas had left her

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Speaker 1: no choice but to quit. The story Number three the

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Speaker 1: Australian Competition and Consumer Commission has given lend Lease in

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Speaker 1: Stockland a two month deadline to cut one third of

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Speaker 1: the assets out of their agreed one point three billion

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Speaker 1: dollar Master Planned Community sale. Or maybe they can try

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Speaker 1: and convince the competition watchdog that its concerns are unfounded.

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Speaker 1: According to report in the Financial Review, the hbill C

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Speaker 1: yesterday delayed a final decision on Lenlease's one point three

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Speaker 1: billion dollar housing portfolio of sale to mid September, saying

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Speaker 1: the proposed transaction could lessen competition in four regional residential markets.

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Speaker 1: The HBLEC is concerned the deal would remove one of

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Speaker 1: Stockland's closest and largest competitors in the Illawarra in New

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Speaker 1: South Wales, Northwest perth Ipswich and Morton Bayne, Queensland. Story

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Speaker 1: number four Wall Street keeps going, and going and going.

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Speaker 1: This morning, the S and P five hundred closed at

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Speaker 1: another record high, as did the tech heavy Nasdaq, helping

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Speaker 1: equities with data suggesting a cooling of the US labor

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Speaker 1: market and the release of the Federal Reserve Award minutes

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Speaker 1: which were considered less hawkish than the previous month. In

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Speaker 1: commodity markets, oils trading just under eighty seven US dollars

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Speaker 1: a barrel goals back above twenty three to fifty US

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Speaker 1: dollars an ounce. Bitcoins dropped somewhat. It's fetching less than

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Speaker 1: fifty nine thousand US dollars a unit, and the news

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Speaker 1: out of the US pushed the Aussie dollar back above

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Speaker 1: sixty seven US since and story number five an update

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Speaker 1: on Hurricane Beryl in the Caribbean. It's the earliest hurricane

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Speaker 1: on record to develop into a Category five storm. The

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Speaker 1: hurricane has already hit Grenada, Saint Vincent, and Jamaica, and

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Speaker 1: overnight it was expected to cross the Cayman Islands. Mexican

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Speaker 1: authorities have issued a hurricane warning for parts of its

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Speaker 1: east coast. Some weakening is forecast during the next couple

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Speaker 1: of days. That's hope SAM. The US National Aceanic and

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Speaker 1: Atmospheric Administration has forecasts between eight and thirteen hurricanes this season,

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Speaker 1: which runs from August to November, though this hurricane has

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Speaker 1: obviously come early. That's it. The Afternoon Report for Thursday,

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Speaker 1: the fourth of July twenty twenty four. Michael Thomps and

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Speaker 1: I will be back tomorrow morning with a Friday edition

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Speaker 1: Beer and Reed Business News. I'm shanielma enjoy your evening,