1
00:00:04,200 --> 00:00:07,400
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:07,480 --> 00:00:10,560
Speaker 1: for Wednesday, the twenty second of January twenty twenty five.

3
00:00:10,640 --> 00:00:13,680
Speaker 1: I'm Sean Almer. Every afternoon, we've got the five stories

4
00:00:13,680 --> 00:00:15,680
Speaker 1: that happened today that you need to know about. Story

5
00:00:15,800 --> 00:00:19,119
Speaker 1: number one. The local share market hit a seven week

6
00:00:19,239 --> 00:00:21,880
Speaker 1: inter a day high today. It's only one percent of

7
00:00:22,000 --> 00:00:25,680
Speaker 1: its all time high at the close. Basically investors like

8
00:00:25,720 --> 00:00:28,400
Speaker 1: what they're hearing from Donald Trump. The market closed up

9
00:00:28,600 --> 00:00:32,080
Speaker 1: zero point three percent to eighty four hundred and thirty points.

10
00:00:32,440 --> 00:00:35,960
Speaker 1: Uranium stocks did best, closely followed by the tech stocks,

11
00:00:35,960 --> 00:00:39,040
Speaker 1: the big miners of the underperformers. Tech stocks jumped on

12
00:00:39,080 --> 00:00:43,280
Speaker 1: the news that Donald Trump is committing hundreds of millions

13
00:00:43,280 --> 00:00:45,880
Speaker 1: of dollars to more data centers. He's calling it the

14
00:00:45,920 --> 00:00:49,000
Speaker 1: Stargate Project. He's got some big partners in there that

15
00:00:49,159 --> 00:00:53,000
Speaker 1: helped the local tech stocks. Whistet, Global, Promedicus, and Zero

16
00:00:53,120 --> 00:00:56,760
Speaker 1: all led the large caps. Commonwealth Bank and Macquarie weren't

17
00:00:56,760 --> 00:01:00,680
Speaker 1: that far behind. Mineral Sans Group by Luke had after

18
00:01:00,720 --> 00:01:04,960
Speaker 1: a disappointing quarterly production report. Uranian minor Parladin jumped sharply

19
00:01:05,040 --> 00:01:08,440
Speaker 1: after output for the December quarter met expectations, and Beach

20
00:01:08,640 --> 00:01:12,040
Speaker 1: Energy share price rose after its December quarter production report.

21
00:01:12,440 --> 00:01:15,040
Speaker 1: Story number two, New South Wales police have arrested a

22
00:01:15,040 --> 00:01:19,399
Speaker 1: man for allegedly spray painting swastikas and trying to set

23
00:01:19,480 --> 00:01:23,000
Speaker 1: fire to a synagogue, just as federal police claimed that

24
00:01:23,040 --> 00:01:27,400
Speaker 1: foreign actors could be paying local criminals to commit anti

25
00:01:27,400 --> 00:01:33,040
Speaker 1: Semitic acts. Yesterday, Australian Federal Police Commissioner Rhyese Kershaw said

26
00:01:33,080 --> 00:01:36,840
Speaker 1: police were looking into the possibility that overseas parties had

27
00:01:36,880 --> 00:01:41,080
Speaker 1: paid local criminals. Prime Minister Anthony Alberanisi today wouldn't be

28
00:01:41,200 --> 00:01:45,039
Speaker 1: drawn following the National Cabinet meeting last night. He said

29
00:01:45,080 --> 00:01:49,000
Speaker 1: that some of the perpetrators aren't being motivated by ideology,

30
00:01:49,240 --> 00:01:52,600
Speaker 1: but it seems they're just being paid. Not quite clear

31
00:01:52,600 --> 00:01:55,760
Speaker 1: where those payments are coming from. Story number three. Donald

32
00:01:55,760 --> 00:01:58,680
Speaker 1: Trump's push into oil and gas, which he announced with

33
00:01:58,800 --> 00:02:03,360
Speaker 1: much fanfare after his inauguration, has hit local energy leader Woodside,

34
00:02:03,400 --> 00:02:06,400
Speaker 1: with the group today pausing work on a large scale

35
00:02:06,520 --> 00:02:10,200
Speaker 1: hydrogen development and solar project. The pause came just twenty

36
00:02:10,240 --> 00:02:13,200
Speaker 1: four hours after mister Trump said there'd be more drilling

37
00:02:13,200 --> 00:02:16,160
Speaker 1: for oil and gas. Boss Meg O'Neil said in the

38
00:02:16,240 --> 00:02:20,640
Speaker 1: United States, free markets and capital markets sometimes determine the

39
00:02:20,680 --> 00:02:25,040
Speaker 1: pace of investment. As a result, Woodside is pulling out

40
00:02:25,120 --> 00:02:27,800
Speaker 1: some of its large scale hydrogen projects. It's still pushing

41
00:02:27,840 --> 00:02:30,880
Speaker 1: ahead with other new energy low carbon projects, its Bow

42
00:02:31,160 --> 00:02:33,720
Speaker 1: Ammonia project in the south of the US, for example.

43
00:02:34,200 --> 00:02:37,200
Speaker 1: Last year, Woodside brought a US L and G project

44
00:02:37,200 --> 00:02:40,400
Speaker 1: for about one point two billion dollars. It needs to

45
00:02:40,400 --> 00:02:42,480
Speaker 1: decide by March whether or it's going to go ahead

46
00:02:42,520 --> 00:02:45,320
Speaker 1: with that now. Obviously demand for energy is growing in

47
00:02:45,360 --> 00:02:48,160
Speaker 1: the US. Donald Trump's new rules could well and truly

48
00:02:48,200 --> 00:02:51,560
Speaker 1: help this project. So Woodside is being benefited from some

49
00:02:51,680 --> 00:02:55,320
Speaker 1: Donald Trump's policies, but perhaps not others. Its share price

50
00:02:55,360 --> 00:02:58,639
Speaker 1: closed down two percent today, Storry number four. Plenty going

51
00:02:58,680 --> 00:03:02,680
Speaker 1: on in global markets, and mostly it's about oil, and

52
00:03:02,720 --> 00:03:05,360
Speaker 1: it's good news at least at the petrol bowser. Donald

53
00:03:05,400 --> 00:03:07,200
Speaker 1: Trump wants to drew it for more oil. We're just

54
00:03:07,240 --> 00:03:10,040
Speaker 1: talking about that. That means more supply, and that pushes

55
00:03:10,080 --> 00:03:14,040
Speaker 1: down futures pricing. Brent crude's back blows seventy nine US

56
00:03:14,080 --> 00:03:17,320
Speaker 1: dollars a barrel, goals, pushing back towards record levels, trading

57
00:03:17,360 --> 00:03:20,239
Speaker 1: around twenty seven to fifty US dollars announce in a

58
00:03:20,320 --> 00:03:23,320
Speaker 1: volatile trump oild goal is not a bad place to

59
00:03:23,360 --> 00:03:26,280
Speaker 1: put your money. I annoyed or is trading just over

60
00:03:26,320 --> 00:03:28,560
Speaker 1: one hundred dollars a ton and the Ausie dollars back

61
00:03:28,560 --> 00:03:31,519
Speaker 1: blow sixty three US cents and story number five. The

62
00:03:31,600 --> 00:03:34,000
Speaker 1: number of new homes being built is way below the

63
00:03:34,000 --> 00:03:37,200
Speaker 1: government's target, with just forty three thousand new dwellings being

64
00:03:37,200 --> 00:03:40,520
Speaker 1: built in the first three months of the National Housing Accord.

65
00:03:40,600 --> 00:03:43,680
Speaker 1: Now the figures are for the three months ending September

66
00:03:43,840 --> 00:03:48,240
Speaker 1: twenty twenty four from the Australian Bureau Statistics. Forty three thousand,

67
00:03:48,440 --> 00:03:52,400
Speaker 1: two hundred and forty seven dwelling commencements took place. Now

68
00:03:52,880 --> 00:03:55,200
Speaker 1: It's okay, it's up eight percent on a year earlier,

69
00:03:55,240 --> 00:03:58,960
Speaker 1: but the National Housing Accord plans for one point two

70
00:03:59,240 --> 00:04:02,080
Speaker 1: million new homes over five years from the middle of

71
00:04:02,160 --> 00:04:05,520
Speaker 1: last year. Canber is providing the States, territories and local

72
00:04:05,520 --> 00:04:07,320
Speaker 1: governments with about three and a half billion dollars to

73
00:04:07,360 --> 00:04:10,120
Speaker 1: make sure that happens. That means it needs a run

74
00:04:10,200 --> 00:04:13,560
Speaker 1: rate of about sixty thousand new homes per quarter. It's

75
00:04:13,600 --> 00:04:17,560
Speaker 1: only hit that twice in the last eight years. Certainly

76
00:04:17,600 --> 00:04:19,880
Speaker 1: forty three thousand dwellings in the September quarter is a

77
00:04:19,920 --> 00:04:22,320
Speaker 1: long way behind. Therefore, there's a long way to go.

78
00:04:22,880 --> 00:04:25,400
Speaker 1: That's EP the Afternoon Report for Wednesday, the twenty second

79
00:04:25,440 --> 00:04:27,640
Speaker 1: of January twenty twenty five. Make sure you hit follow

80
00:04:27,680 --> 00:04:30,160
Speaker 1: on the podcast. We'll be back tomorrow morning with the

81
00:04:30,320 --> 00:04:32,920
Speaker 1: Thursday edition of the Fast five Business Years by Fear

82
00:04:32,960 --> 00:04:35,520
Speaker 1: and Greed. I'm Sean Elma, I'm Joey reading