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Speaker 1: It's Tuesday, the first of April twenty twenty five. Welcome

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

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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. When it's five minutes, I'm Michael Thompson

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Speaker 1: and good morning Sean.

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Speaker 2: Aleman, Good morning Michael Shawn.

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Speaker 1: Five massive stories to get through in just five minutes,

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Speaker 1: so we better go cracking. With story number one, The

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Speaker 1: Australian share market has had its worst start to a

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Speaker 1: year since COVID, with the benchmark index off nearly four percent,

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Speaker 1: including a forty two billion dollar sell off yesterday.

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Speaker 2: Not since twenty twenty as the share market has as

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Speaker 2: bad a quarter, which means many of our superinnuation accounts

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Speaker 2: won't look very good when we check our latest statements.

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Speaker 2: The selling reflects two main factors. The first are fears

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Speaker 2: of US reciprocal tariffs hitting Australian exports. The second is

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Speaker 2: a downtown in the world's biggest economy. Not helping is

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Speaker 2: all the uncertainty around the place. Taking the tariff factor first,

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Speaker 2: in February, US President Donald Trump directed officials to put

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Speaker 2: together country by country tailored counter measures on tariffs. Not

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Speaker 2: sure what that means like our ges, our pharmaceutical benefit scheme,

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Speaker 2: whether they attract the US desire or not. We'll find

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Speaker 2: out on Thursday. That's what Donald Trump is called Liberation Day,

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Speaker 2: where he's going to impose those reciprocal tariffs. Second fact

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Speaker 2: is the US economy. There's like a forty fifty percent chance,

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Speaker 2: according to the experts, that could go into a session.

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Speaker 2: That's bad news.

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Speaker 1: Okay. A lot of this is about uncertainty in the US.

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Speaker 1: What stocks are being.

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Speaker 2: Hit hardest locally though, pretty much everything except for gold stocks,

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Speaker 2: which is safe haven assets. The SMPA six two hundred

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Speaker 2: finished down one point seventy five percent yesterday to seven

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Speaker 2: eight three points. Ninety percent of the top two hundred

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Speaker 2: ended lower basically read ink everywhere, led by the big

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Speaker 2: miners and tech stocks. After a very strong run for

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Speaker 2: the market from August last year until about the middle

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Speaker 2: of last month, the BOSS has dropped more than eight percent,

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Speaker 2: while the uncertainty last it's hard to see it doing

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Speaker 2: much better.

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Speaker 1: Okay. Story number two. That was a lot of bad

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Speaker 1: investing news. Better news, Sean if you're a homeowner. Australian

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Speaker 1: house prices hit new records in March overturning a downward

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Speaker 1: trend with almost all capital it is showing price rises.

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Speaker 1: Last month across the country, values increased by zero point

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Speaker 1: four percent.

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Speaker 2: Notably, Melbourne outdid the average. Sydney prices also arose, but

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Speaker 2: they just didn't go up as fast as that average

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Speaker 2: are zero point three percent or as fast as Melbourne.

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Speaker 2: For the first quarter of the year. Prices and the

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Speaker 2: two major cities are now up aroundo point four point

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Speaker 2: five percent. However, the median house price in Sydney is

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Speaker 2: much more one point two million compared to seven hundred

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Speaker 2: and eighty thousand in Melbourne. That housing affordability is helping

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Speaker 2: that Southern state's house prices and Darwin and Adelaide were

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Speaker 2: the best performers in both the month of March and

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Speaker 2: the first three months of the year. Brisbane had a

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Speaker 2: pretty strong month in March. It's now the second most

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Speaker 2: expensive city median value of just under nine hundred thousand

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Speaker 2: perth House prices are rising, but now are near the

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Speaker 2: pace of last year.

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Speaker 1: Story number three. The first polls taken after the election

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Speaker 1: was called are in and broadly it's good news for

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Speaker 1: the Prime Minister.

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Speaker 2: Sure as the AFR freshwater poll shows that Labor is

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Speaker 2: closing the gap on the coalition as the party most

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Speaker 2: trusted to hand the cost of living crisis. The cost

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Speaker 2: of living crisis is far and away the biggest issue

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Speaker 2: in this election. On a two party ThReD basis, the

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Speaker 2: Opposition leads the ALP fifty point six to forty nine

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Speaker 2: point four, but that result suggests that Dutton's momentum and

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Speaker 2: the coalition's momentum has stalled somewhat. If it's repeated in

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Speaker 2: an election, according to Freshwater, the swing away from the

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Speaker 2: government would result in an ALP led minority government. The

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Speaker 2: news poll in The Australian shows Labour leading the coalition

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Speaker 2: fifty one to forty nine percent on a two party

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Speaker 2: preferred basis, a turnaround from the previous result that would

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Speaker 2: put ALP within striking distance of forming a majority government.

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Speaker 1: Story number four online real estate portal Domain is set

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Speaker 1: to be sold to US based Coast after sixty percent

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Speaker 1: shareholder Nine Entertainments said it will vote in favor of

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Speaker 1: the deal.

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Speaker 2: Domains the biggest single asset of nine Entertainment and co

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Speaker 2: Star is now doing due diligence on the property group. Yesterday,

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Speaker 2: Domain set directors would support the bid if there were

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Speaker 2: no other offers, and an independent expert says it's in

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Speaker 2: the best interests of the company co Star. Last week

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Speaker 2: up to it's offered four dollars forty three a share.

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Speaker 2: That's forty two percent premium two domains closing price in

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Speaker 2: the day before the initial bid was made back in February.

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Speaker 2: If deal goes ahead, the question becomes what does nine

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Speaker 2: do with about one point four billion dollars in cash?

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Speaker 1: Good question? Last one story number five. President Donald Trump

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Speaker 1: says he isn't joking about trying to serve a third term.

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Speaker 1: The clearest indication yet that he is looking for ways

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Speaker 1: to overcome a constitutional barrier that prevents someone serving more

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Speaker 1: than twice.

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Speaker 2: Yes, so, he was. In a telephone interview with NBC

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Speaker 2: News from marri Lago. He said, and I quote, there

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Speaker 2: are methods which you could do it. End quote. He

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Speaker 2: added that it was far too early to think about,

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Speaker 2: but obviously he has been thinking about it. The twenty

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Speaker 2: second Amendment, added to the Constitution in nine to fifty

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Speaker 2: one after President Franklin D. Roosevelt was elected four times

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Speaker 2: in a row, says, and I quote, no person shall

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Speaker 2: be le did to the office of the president more

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Speaker 2: than twice. End quote. Now, any attempt to remain in

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Speaker 2: office would be legally suspect, and it's unclear how seriously

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Speaker 2: Trump might pursue the idea, but he's clearly giving some

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Speaker 2: thought to it.

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Speaker 1: Yeah, indeed, all right, there we go, the top five

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

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Speaker 1: Thank you, Michael. It is Tuesday, the first of April

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Speaker 1: twenty twenty five. Remember to hit follow on the podcast,

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Speaker 1: and if five minutes isn't enough, you can find our

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Speaker 1: longer daily show called Fear and Greed wherever you listen

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Speaker 1: to podcasts. I'm Michael Thompson and that was the fast

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Speaker 1: five business news by Fear and Greed. Have a great day.