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Speaker 1: Welcome to Fear and greed business news you can use today.

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Speaker 1: Renewable energy provided the majority of electricity across the nation

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Speaker 1: during the December quarter for the first time. Senior Liberals

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Speaker 1: met yesterday without Susan Lee to discuss the party's leadership

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Speaker 1: and Tesla to stop making models and model x evs

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Speaker 1: as the company pushes into robotics. Plus a good day

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Speaker 1: for uranium and a bad day for rare earths, and

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Speaker 1: the EU and India do a mega trade deal. It

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Speaker 1: is Friday, the thirtieth of January twenty twenty six. I'm

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Speaker 1: Uncle Thompson and good morning Sean Aylmer.

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Speaker 2: Good morning Michael.

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Speaker 1: Massive day today, Sean. The main story this morning. For

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Speaker 1: the first time, renewables supplied the majority of Australia's electricity

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Speaker 1: needs for a complete quarter and as a result, prices

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Speaker 1: across the network for the final three months of last

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Speaker 1: year were actually lower.

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Speaker 2: The Australian energy market operated said WIN. The solar, hydro

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Speaker 2: and batteries accounted for just over fifty one percent of

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Speaker 2: generation the national electricity market in the December quarter, edging

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Speaker 2: out coal and gas for the first time in any

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Speaker 2: three month period. It reflects decades of investments in renewable capacity,

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Speaker 2: supported by wind generation, ongoing rooftop solar panel up take,

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Speaker 2: and a rapid expansion of large scale batteries. Impressively, Michael

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Speaker 2: renewables outdid fossil fuel energy in a quarter of record demand.

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Speaker 1: Now.

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Speaker 2: The key reason was that what's known as distributed PV

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Speaker 2: folto volta X distributed photo volta X, better known as

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Speaker 2: rooftop solar, had a record quarter pretty much because the

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Speaker 2: sun was shining. Coal fire generations lead to its lowest

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Speaker 2: quarterly level on record, while gas output dropped to its

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Speaker 2: weakest descend mcquarter in more than two decades. Renewables are

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Speaker 2: cheaper than fossil fuel energy, and wholesale prices across the

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Speaker 2: market averaged about forty percent below a year earlier. Theoretically,

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Speaker 2: that should actually feed through to lower household prices.

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Speaker 1: Sean listening to that, is it solar panels that are

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Speaker 1: making the difference here or is it the installation of batteries.

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Speaker 1: Because it's one thing to be able to generate it when,

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Speaker 1: as you say, the sun is shining. It's another thing

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Speaker 1: to be able to store it and use it when

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Speaker 1: it's needed.

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Speaker 2: Yes, so it's both in one half hour period. During

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Speaker 2: the December quarter, the market operator said, rooftop solar accounted

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Speaker 2: for sixty one percent of energy demand. Pretty spectacular. Also,

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Speaker 2: there are now one hundred and forty five thousand household

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Speaker 2: battery installations and more wind farms and Michael, to be perfectly,

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Speaker 2: there was just more wind during the quarter that helped

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Speaker 2: variable renewable energy output last quarter was up about twenty

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Speaker 2: three percent on a year earlier.

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Speaker 1: What does it mean then for carbon emissions?

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Speaker 2: Well, that's the bottom line, isn't it. I mean, well,

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Speaker 2: two things costs, it's cheaper carbon emissions. Well, the market

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Speaker 2: operator said. The increase in renewable output drove national energy

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Speaker 2: market total emissions and emissions intensity to you all time

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Speaker 2: record low levels. A good news story to kick off today. Shaw.

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Speaker 1: Yeah, it's interesting, isn't it? Because you wonder how much

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Speaker 1: of it is then weather dependent, because as you say,

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Speaker 1: the sun was shining, but also requires there to be

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Speaker 1: a relatively windy period, and of course September October is

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Speaker 1: usually quite a windy kind of period a time in

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Speaker 1: a year, but all of a sudden, if you get

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Speaker 1: a couple of really overcast weeks or months and lots

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Speaker 1: of rain, and no wind things could shift around of it.

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Speaker 2: Yes, but that's where one hundred and forty five thousand

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Speaker 2: household battery installations really makes a difference. If you can

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Speaker 2: double that, suddenly this is going to be a regular thing.

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Speaker 1: Yeah, okay, the Yeah, it is a good news story. Sorry,

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Speaker 1: I shouldn't have skipped past that. That is actually a

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Speaker 1: really positive history. Yeah. To kick off today, the Federal

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Speaker 1: Liberal Party getting into politics here, it's contemplating a change

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Speaker 1: of leadership. I suspect there's been rumbling so this one

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Speaker 1: for quite a while, but it's coming to a head now.

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Speaker 1: To the two main to opposition leader Susan Lee met

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Speaker 1: in Melbourne yesterday. Susan Lee was not there, that's right.

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Speaker 2: Angus Taylor and Andrew Hasty met yesterday morning. So far

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Speaker 2: there doesn't seem much agreement on who might challenge Lee.

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Speaker 2: Both are from the conservative faction of the Libs, meaning

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Speaker 2: that lit the Conservative vote should they both run, So

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Speaker 2: power brokers are trying to sort out an option. Media

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Speaker 2: this morning's reporting that Taylor and Hasty have not reached

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Speaker 2: any agreement on who might challenge Lee, but they're going

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Speaker 2: to continue talking. The meeting in Melbourne came as liberal

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Speaker 2: MPs gathered to more former MP Katie Allen, who died

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Speaker 2: of a rare form of cancer in December. She was

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Speaker 2: only fifty nine. She was remembered for her drive to

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Speaker 2: make a difference as a pediatrician and for her rich life.

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Speaker 2: Really was a role call of who's who amongst the

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Speaker 2: liberal MPs. All the current liberal MPs were there. I

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Speaker 2: think people like Peter Dutton, Josh Frodenberg, Petticascello Tho were

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Speaker 2: there as well.

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Speaker 1: Okay, Equity's the local boss finished yesterday.

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Speaker 2: S and Pax two hundred market. Oh see the word

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Speaker 2: boors you threw me. You never used the word bors,

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Speaker 2: and you go hod the boss finish and I've stuffed it.

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Speaker 1: I'm all about changing things up, Sean. I'm trying to

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Speaker 1: keep you on your toes here today it feels like

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Speaker 1: you're getting a little complacent. I mean, for a couple of.

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Speaker 2: Weeks you threw me on that. The S and Pax

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Speaker 2: two hundred finished slightly lower yesterday to nine hundred and

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Speaker 2: twenty eight points. I think it was down about six points.

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Speaker 2: Tech stocks were sold off following wall streets. Lead materials

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Speaker 2: and energy stocks did best. Some of the interstraight sensitive stocks,

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Speaker 2: things like in the retailers Jbhi Fi, Harvey Norman. They

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Speaker 2: were sold off too on that expectation of a rate

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Speaker 2: rise On Tuesday.

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Speaker 1: Global markets, Sean, you know, it's.

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Speaker 2: Like a record on repeat, Global markets. Gold gold gold,

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Speaker 2: gold gold pushed through fifty six hundred US dollars an ounce.

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Speaker 2: Investors just a touch worried about US bonds and the

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Speaker 2: greenback goals are pretty good. All alternative, well, it was

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Speaker 2: a great alternative that given its doubled in price in

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Speaker 2: the last year, you wonder whether it's a little more

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Speaker 2: risky than it was a year ago or so. The

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Speaker 2: other big story in local markets, though not quite so dramatic,

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Speaker 2: of course, is the currency. I was the dollar training

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Speaker 2: around a three year high, about seventy and a half

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Speaker 2: US cents, also higher against the British pround and the euro.

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Speaker 2: Not a bad time to take a holiday.

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Speaker 1: It certainly is not a bad time. That's a very

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Speaker 1: double negative sentence there. It certainly is not not a

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Speaker 1: bad You know what, Sean, I'm twisting myself up in.

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Speaker 2: Knots. There you go, very good, take a quick.

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Speaker 1: Break back in a moment with the rest of the

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Speaker 1: day's business news sewn with Australia Day Over. Home auctions

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Speaker 1: across the country pick up this weekend, with more than

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Speaker 1: one thousand, six hundred scheduled over the next seven days,

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Speaker 1: about four times the level of the current week's.

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Speaker 2: Melbourne will be busiest that much. It struggled last year

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Speaker 2: in terms of price, so you know, if you're buying

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Speaker 2: a home, Melbourne wasn't a bad place to go. The

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Speaker 2: investor market in Melbourne really struggled. More than six hundred

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Speaker 2: homes a jew to go up for auction. Sydney would

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Speaker 2: have nearly five hundred actions, Brisbane's about two hundred and twenty.

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Speaker 2: Most analysts expect house prices to rise throughout this year,

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Speaker 2: they may be not as much as the nine percent

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Speaker 2: last year.

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Speaker 1: There's a tale of two commodities on the ASX. Yesterday,

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Speaker 1: Shawn Uranium prices surged to their highest level in two years,

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Speaker 1: sending nuclear stocks higher, while rare earth stocks tumbled on

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Speaker 1: comments from Donald Trump.

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Speaker 2: Uranium prices pushed past one hundred US dollars a pound

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Speaker 2: for the first time in two years, after the world's

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Speaker 2: largest physical uranium fund, known as the SPROT Trust, ramped

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Speaker 2: up purchases of yellow cake a physical uranium fund. You

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Speaker 2: must actually, if you're storing that, you have to be

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Speaker 2: very very careful care. Yeah, I think so. Stocks like

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Speaker 2: Yellow next Gen Bus Energies had a really rough trot

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Speaker 2: that but it did well yesterday, say too, did Paladin.

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Speaker 2: Most of those docks not Boss Energy, but the rest

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Speaker 2: of up about seventy percent of the past year. Deep Yellow,

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Speaker 2: in fact, was the best on the Boss yesterday. Beautifully

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Speaker 2: named Deep Yellow.

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Speaker 1: It's a great name.

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Speaker 2: It is on the flip side chairs. In rare earths,

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Speaker 2: producers like Linus and a Luca Resources crashed after unconfirmed

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Speaker 2: reports in the US that suggested the Trump administration might

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Speaker 2: abandon plants to set price floors for rare earths. The

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Speaker 2: theory there is that the administration might just be going

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Speaker 2: a little bit cool on helping out rare earths. Now,

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Speaker 2: Washington Canber, a bunch of other economies have said they

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Speaker 2: will support rare earths in an effort to disrupt China's

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Speaker 2: stranglehold on the market. But anything like that from Donald

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Speaker 2: Trump yesterday really hurt that sector.

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Speaker 1: Yeah. Indeed, now the cost of the federal bureaucracy is

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Speaker 1: well above forecasts, and the government would have to cut

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Speaker 1: twenty eight thousand jobs over the next four years in

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Speaker 1: order to come in on budget. That's going to go down.

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Speaker 2: Well, yes, that's according to the Parliamentary Budget Office. If

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Speaker 2: it wants to come in on budget, not cut jobs,

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Speaker 2: then it needs to find eleven point eight billion dollars somewhere.

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Speaker 2: The federal budget's main spending items I think defense, childcare

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Speaker 2: and dis energy transition are accelerating now. According to media reports,

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Speaker 2: the budget deficit has already burned an extra fifty seven

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Speaker 2: billion dollars over the next decade. That's since the federal

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Speaker 2: election won't see a surplus for ten years. The oven

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Speaker 2: Easy government has grown the number of public servants by

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Speaker 2: twenty four percent to two hundred and thirteen thousand this

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Speaker 2: fiscal year. He says, it's part of its push to

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Speaker 2: stop using consultants and contractors in those people. So that's

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Speaker 2: the reason. The problem is that the numbers does just

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Speaker 2: aren't adding up at the moment and you're getting a

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Speaker 2: bigger budget deficit, all right.

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Speaker 1: Turning to international news, now, Sean, the EU and India

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Speaker 1: have ratified a mega trade deal as the two groups

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Speaker 1: rethink trade ties on the back of US tariffs.

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Speaker 2: European Commission President Ursula von Delane called the agreement the

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Speaker 2: mother of all deals and involves twenty seven member countries

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Speaker 2: of the EU and of course the world's most populous country, India,

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Speaker 2: has been hit with fifty percent tariffs and of the

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Speaker 2: Trump administration. Once this deal is ratified, it will remove

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Speaker 2: duties and around ninety percent of about one hundred and

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Speaker 2: thirty six billion dollars worth of goods traded annually. From

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Speaker 2: yours point of view, biggest winners carmakers, wine, beer, pasta producers.

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Speaker 2: Then from India's point of view, they'll be able to

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Speaker 2: sell duty free clothes, chemicals, and furniture. Were starting to

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Speaker 2: see more non US trade deals, so the EU has

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Speaker 2: recently done a deal with four Latin American countries. China

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Speaker 2: and Canada have finally closed an agreement around lower tariffs

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Speaker 2: on some exports Key Starmer. The UK Prime Minister is

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Speaker 2: in China meeting Xijingping at the moment. It is really

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Speaker 2: interesting to see how the shakeup in Jai politics has

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Speaker 2: changed the relations between economies.

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Speaker 1: Yeah. Absolutely, Finally, Seana mentioned this at the top of

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Speaker 1: the show. A bunch of US tex stocks reporting over

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Speaker 1: the past twenty four hours, but Tesla said that it

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Speaker 1: is going to scrap its S and X models and

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Speaker 1: invests two billion US dollars into Elon Musk's XAI. I mean,

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Speaker 1: it really demonstrates Tesla's shift in focus away from cars

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Speaker 1: towards AI and towards robotics.

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Speaker 2: So the announcement came out of the group reported its

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Speaker 2: first ever fall in annual profit. Means Tesla will have

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Speaker 2: two models, the Level three, the entry Level three and

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Speaker 2: the small y SUV. Now, I know a lot of

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Speaker 2: x's are sold in Australia, so you know, let's hope

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Speaker 2: that the upgrades keep coming for that. Car Ila Musk

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Speaker 2: was asked about you know, hey, you're an EV company

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Speaker 2: and are you going to you know, are you upset

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Speaker 2: about them? And he goes, oh, I'm slightly sad, but

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Speaker 2: it is part of the shift to the company's autonomous future.

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Speaker 2: So Elon is all about self driving cars and that's

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Speaker 2: where the future is. As opposed to these models, they're

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Speaker 2: not getting out of evs as such, just evs with

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Speaker 2: car drivers both basically otherwise better mention Microsoft, its share

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Speaker 2: price was sold off even the revenue is higher. That's

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Speaker 2: because it wants to spend about fifty or last quarter

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Speaker 2: it spent fifty three billion Aussie dollars on its AI

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Speaker 2: funny meta. It also said that it's going to spend

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Speaker 2: huge amounts. I mean this year about one hundred and

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Speaker 2: twenty five billion US So just quickly doing the maths there,

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Speaker 2: that's one hundred and eighty or thereabouts billion Aussie dollars.

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Speaker 2: It's share price jumped eleven percent. Two things there, building

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Speaker 2: AI ain't cheap. That all those spendings in AI. Yep

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Speaker 2: too is shareholders and analysts really want a good story

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Speaker 2: and meta to shareholders have much better story than Microsoft

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Speaker 2: at the moment.

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Speaker 1: Yeah, that is actually completely different reactions to that, isn't it.

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Speaker 1: That's amazing. Now up next sean fear and Greed Q

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Speaker 1: and a something a little bit different. Today. You are

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Speaker 1: speaking with doctor Zach Turner.

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Speaker 2: So we often do stories on medicine and drug trials

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Speaker 2: and stuff like that. So we thought let's get an

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Speaker 2: expert in and pick probably the hottest health topic at

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Speaker 2: the moment, weight loss drugs, GLP one drugs and ask

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Speaker 2: him about them, whether they're good, long term side effects,

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Speaker 2: next generation of drugs, what it all means. And it's

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Speaker 2: great chat.

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Speaker 1: Yeah, it certainly is. It is coming up next in

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Speaker 1: the Fear and Greed playlist on your podcast platform or

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Speaker 1: at Fearandgreed dot com dot au, which is also sean

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Speaker 1: conveniently where you sign up for the free daily newsletter

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Speaker 1: that lands in your inbox every morning by six am.

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Speaker 1: And I'll put a link in the show notes as

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Speaker 1: well to make it even easier. Thank you very much.

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Speaker 1: Thanks Michael Friday, the thirtieth of January twenty twenty sixth.

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Speaker 1: Make sure you're following the podcast and please join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson.

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Speaker 1: That was Fear and Greed. Have a great day.