1 00:00:03,800 --> 00:00:06,720 Speaker 1: It's Tuesday, the twelfth of November twenty twenty four. Welcome 2 00:00:06,800 --> 00:00:08,920 Speaker 1: to the Fast Five by Fear and Greed, where we 3 00:00:08,960 --> 00:00:10,920 Speaker 1: give you the top five business stories you need to 4 00:00:10,960 --> 00:00:13,960 Speaker 1: know in just five minutes. I'm Adam Lang and good 5 00:00:13,960 --> 00:00:14,960 Speaker 1: morning Sean Almer. 6 00:00:15,440 --> 00:00:18,079 Speaker 2: Good morning, Adam, Sean story. 7 00:00:17,880 --> 00:00:21,119 Speaker 1: Number one this morning, Commonwealth Banks share price hit one 8 00:00:21,239 --> 00:00:24,239 Speaker 1: hundred and fifty dollars, albeit briefly. Yesterday and for a 9 00:00:24,280 --> 00:00:27,600 Speaker 1: few minutes, the lender became the first Australian company to 10 00:00:27,600 --> 00:00:30,040 Speaker 1: top the quarter of a trillion dollar mark. 11 00:00:30,600 --> 00:00:33,160 Speaker 2: Just after eleven am, it hit one hundred and fifty 12 00:00:33,159 --> 00:00:35,240 Speaker 2: dollars and thirty four cents to share, pushing the groups 13 00:00:35,320 --> 00:00:38,960 Speaker 2: market capitalization beyond two hundred and fifty billion dollars first 14 00:00:38,960 --> 00:00:41,879 Speaker 2: time at local Compani's hit that valuation. It ended up 15 00:00:41,880 --> 00:00:43,760 Speaker 2: closing at one hundred and forty nine dollars and seventy 16 00:00:43,840 --> 00:00:46,080 Speaker 2: nine cents, the market cap of two forty nine point 17 00:00:46,240 --> 00:00:50,239 Speaker 2: eight nine billion dollars. Despite most professional investors having a 18 00:00:50,320 --> 00:00:53,280 Speaker 2: cell recommendation on the stock, It's risen twenty five percent 19 00:00:53,280 --> 00:00:55,640 Speaker 2: in the past six months, not far off fifty percent 20 00:00:55,680 --> 00:00:58,360 Speaker 2: over the past year. Mind Dear, Westpac's done even better. 21 00:00:58,480 --> 00:01:00,440 Speaker 2: It's ritten more than fifty percent over the past year, 22 00:01:00,480 --> 00:01:03,280 Speaker 2: and ABS up forty percent, said twenty seven percent. We'll 23 00:01:03,280 --> 00:01:05,160 Speaker 2: throw in Macquari Group, more of an investment bank than 24 00:01:05,160 --> 00:01:07,080 Speaker 2: a retail bank. It's up forty percent. 25 00:01:07,400 --> 00:01:07,480 Speaker 1: Now. 26 00:01:07,480 --> 00:01:09,319 Speaker 2: I don't want to rain on any parade here. It's 27 00:01:09,440 --> 00:01:11,840 Speaker 2: very exciting. We could have a quarter trillion dollar company. 28 00:01:11,840 --> 00:01:13,920 Speaker 3: However, if the comoal Bank was in the S and 29 00:01:13,959 --> 00:01:16,520 Speaker 3: P five hundred on Wall Street, it'd be ranked about 30 00:01:16,560 --> 00:01:20,319 Speaker 3: the sixtieth largest company, about four and a half percent 31 00:01:20,360 --> 00:01:23,120 Speaker 3: the size of Nvidia, which is actually the largest company. 32 00:01:23,840 --> 00:01:26,560 Speaker 1: That's good perspective, Sean. The market seems to be a 33 00:01:26,560 --> 00:01:30,880 Speaker 1: story of overperformers and underperformers, at least among the largest companies, 34 00:01:31,120 --> 00:01:33,039 Speaker 1: with not too many of them in between. 35 00:01:33,280 --> 00:01:35,279 Speaker 2: I think that's right. The S and PISX two hundreds 36 00:01:35,360 --> 00:01:37,520 Speaker 2: up eighteen percent over the past year. Now about half 37 00:01:37,560 --> 00:01:39,679 Speaker 2: that came right at the end of twenty twenty three. 38 00:01:39,959 --> 00:01:42,280 Speaker 2: But of the top thirty stocks, the only companies to 39 00:01:42,319 --> 00:01:45,200 Speaker 2: be performing about that eighteen percent market cs l QB, 40 00:01:45,480 --> 00:01:48,800 Speaker 2: Coles and Cockleyarts. Of the other twenty six thirteen have 41 00:01:48,840 --> 00:01:51,760 Speaker 2: done much better. Thirdin have done much worse. The really 42 00:01:51,800 --> 00:01:56,600 Speaker 2: good performance Promedicus Wise Tech Global, Goodman Group, Aristocrat, Leisure, 43 00:01:56,600 --> 00:01:59,760 Speaker 2: Resme and Fisher and Pacal the really poor performers, these 44 00:01:59,800 --> 00:02:04,320 Speaker 2: ones all gone backwards. In fact, Woodside, BHP, Fortescu Metals, Telstra, Rio, 45 00:02:04,560 --> 00:02:06,400 Speaker 2: Woolies and Santos. 46 00:02:06,200 --> 00:02:09,200 Speaker 1: Sean's sting number two. Bitcoin has risen to more than 47 00:02:09,320 --> 00:02:12,519 Speaker 1: US eighty one thousand dollars a unit, highlighting the excitement 48 00:02:12,520 --> 00:02:14,880 Speaker 1: about the Trump era among crypto traders. 49 00:02:15,480 --> 00:02:18,720 Speaker 2: Yes, it's a golden period. The digital asset industry spent 50 00:02:18,800 --> 00:02:21,239 Speaker 2: an estimated one hundred million US dollars back in crypto 51 00:02:21,280 --> 00:02:24,760 Speaker 2: friendly candidates across the US during the elections last week. 52 00:02:24,880 --> 00:02:27,640 Speaker 2: They seem to have already made their money back. Dagecoin 53 00:02:27,760 --> 00:02:31,520 Speaker 2: a mean crowd favored by Elon Musk, It's also done 54 00:02:31,560 --> 00:02:34,120 Speaker 2: particularly well. Donald Trump's vowed to make the US the 55 00:02:34,200 --> 00:02:37,239 Speaker 2: center of the digital asset industry, and Bitcoin's up ninety 56 00:02:37,280 --> 00:02:39,440 Speaker 2: three percent this year, much better than Equit is much 57 00:02:39,480 --> 00:02:42,840 Speaker 2: better than gold. Bitcoin ets, which were only introduced at 58 00:02:42,840 --> 00:02:45,880 Speaker 2: the beginning of this year, are surging. Black rocks I 59 00:02:46,000 --> 00:02:49,160 Speaker 2: share Bitcoin Trust, which would be among the biggest of 60 00:02:49,160 --> 00:02:52,680 Speaker 2: the lot on Wall Street. It is posting record daily 61 00:02:52,840 --> 00:02:57,440 Speaker 2: new inflows of almost one point four billion US dollars. 62 00:02:57,480 --> 00:02:58,880 Speaker 2: According to Bloomberg. 63 00:02:58,960 --> 00:03:01,679 Speaker 1: Sean, it is called a bitcoin rush. 64 00:03:02,000 --> 00:03:04,880 Speaker 2: It's bitcoin rush, that's what we're going to call it anyway. 65 00:03:04,960 --> 00:03:08,400 Speaker 1: Great story. Number three Treasurer Jim Charmers has warned that 66 00:03:08,400 --> 00:03:11,760 Speaker 1: Australia will suffer from lower economic growth and higher prices 67 00:03:12,080 --> 00:03:13,960 Speaker 1: because of Donald Trump's policies. 68 00:03:14,560 --> 00:03:18,239 Speaker 2: Australia won't escape the impact of the US China trade 69 00:03:18,280 --> 00:03:21,680 Speaker 2: war if Donald Trump goes ahead and puts big tariffs 70 00:03:21,720 --> 00:03:24,880 Speaker 2: on Chinese goods. According to Jim Charmers, he said that 71 00:03:24,960 --> 00:03:27,399 Speaker 2: a floating exchange rate, which we have in an independent 72 00:03:27,400 --> 00:03:30,280 Speaker 2: central bank, will mitigate some effects of the trade war locally, 73 00:03:30,760 --> 00:03:33,040 Speaker 2: and the impact globally will actually be much greater than 74 00:03:33,080 --> 00:03:34,640 Speaker 2: it is here in Australia. But the fear is that 75 00:03:34,680 --> 00:03:36,720 Speaker 2: a trade war between the US and China will slow 76 00:03:36,840 --> 00:03:40,880 Speaker 2: Chinese growth that will lower demand for our goods. Analysis 77 00:03:40,880 --> 00:03:42,640 Speaker 2: from the Federal Treasury done in the lead up to 78 00:03:42,680 --> 00:03:46,240 Speaker 2: the US poll suggests a small reduction in growth and 79 00:03:46,480 --> 00:03:49,960 Speaker 2: additional price pressures. Now, inflation Australia might be coming down, 80 00:03:49,960 --> 00:03:53,000 Speaker 2: but prices are still considered too high. That's the same 81 00:03:53,040 --> 00:03:55,840 Speaker 2: sort of complaint heard in the US as well, and 82 00:03:56,000 --> 00:03:58,880 Speaker 2: of the weekend, Health Minister Mark Butler came out and 83 00:03:58,880 --> 00:04:01,760 Speaker 2: said a lesson for labor out of the US election 84 00:04:02,440 --> 00:04:05,000 Speaker 2: is that voters want to see their governments focus on 85 00:04:05,040 --> 00:04:05,880 Speaker 2: the cost of living. 86 00:04:06,320 --> 00:04:09,200 Speaker 1: Sean Stey number four, the owner of Dan Murphy's and 87 00:04:09,280 --> 00:04:12,360 Speaker 1: BWS liquor stores, has warned profits will be lower in 88 00:04:12,400 --> 00:04:15,480 Speaker 1: the final six months of this year with promotional offerings 89 00:04:15,600 --> 00:04:17,159 Speaker 1: hitting their margins and. 90 00:04:17,240 --> 00:04:20,480 Speaker 2: Devid groupones seventeen hundred and twenty five stores. It warned 91 00:04:20,520 --> 00:04:25,240 Speaker 2: profits are lower as increasing promotions to law in customers 92 00:04:25,400 --> 00:04:29,640 Speaker 2: are biting into margins. Also, consumer spendings week and Devon's 93 00:04:29,680 --> 00:04:33,359 Speaker 2: also suffering from some higher costs. Outgoing chief executive Steve 94 00:04:33,400 --> 00:04:38,239 Speaker 2: Dona who says it's a challenge to record sales growth 95 00:04:38,279 --> 00:04:41,640 Speaker 2: in this current three months. Endeavor's share price fell five 96 00:04:41,680 --> 00:04:46,080 Speaker 2: percent yesterday. It's down fourteen percent for this year. Endeavor 97 00:04:46,120 --> 00:04:49,640 Speaker 2: owns bottle shops, plus pubs and hotels around the country. 98 00:04:49,920 --> 00:04:51,920 Speaker 2: It was spun out of Woolies back in twenty twenty five. 99 00:04:51,960 --> 00:04:54,200 Speaker 2: The good years from yesterday, I suppose pubs are looking aka. 100 00:04:54,279 --> 00:04:58,040 Speaker 2: Christmas bookings are already at fifty four percent of capacity. 101 00:04:58,560 --> 00:05:02,080 Speaker 1: Sean Stey number five. Bhutan, the Himalayan kingdom that brought 102 00:05:02,080 --> 00:05:05,480 Speaker 1: the world the concept of gross national happiness, is set 103 00:05:05,520 --> 00:05:07,360 Speaker 1: to build a mindfulness city. 104 00:05:07,760 --> 00:05:11,560 Speaker 2: The Gleefu Mindfulness City will line a special administrative region 105 00:05:11,600 --> 00:05:13,719 Speaker 2: with separate rules and laws that will aim to be 106 00:05:13,720 --> 00:05:17,640 Speaker 2: an economic coral linking South Asia and Southeast Asia. According 107 00:05:17,680 --> 00:05:21,039 Speaker 2: to officials, Royt has listed what's going to be in 108 00:05:21,080 --> 00:05:25,400 Speaker 2: this mindfulness city Promotion of walking and cycling to reduce emissions, 109 00:05:25,440 --> 00:05:29,480 Speaker 2: green spaces for meditation and relaxation, mindfulness based education, public 110 00:05:29,480 --> 00:05:34,080 Speaker 2: community activities, healthcare and wellness centers and ecotourism. I'd like 111 00:05:34,200 --> 00:05:35,960 Speaker 2: to visit it me too, Sean. 112 00:05:36,040 --> 00:05:38,280 Speaker 1: That's it the top five business stories you need to 113 00:05:38,320 --> 00:05:39,400 Speaker 1: know in just five minutes. 114 00:05:39,520 --> 00:05:43,280 Speaker 2: Thank you, Sean, Thank you very much. Adam, it's Tuesday. 115 00:05:42,920 --> 00:05:45,480 Speaker 1: The twelfth of November twenty twenty four. Remember to hit 116 00:05:45,520 --> 00:05:48,120 Speaker 1: follow on the podcast and if five minutes isn't enough, 117 00:05:48,360 --> 00:05:51,359 Speaker 1: then find our longer podcast called Fear and Greed on 118 00:05:51,480 --> 00:05:54,560 Speaker 1: your favorite podcast platform. I'm Adam Lang and that was 119 00:05:54,600 --> 00:05:57,040 Speaker 1: the Fast Fire by Fear and Greed. Have a great day.