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

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Speaker 1: Report for Thursday, the twurth of September twenty twenty four.

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

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Speaker 1: that happened today that you need to know about. Storing

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Speaker 1: Um one. The SMPA six two one hundred had a

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Speaker 1: great day. It closed up one point one percent to

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Speaker 1: eight thousand and seventy six points, the best session in

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Speaker 1: about three weeks. The index is now just seventy two

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Speaker 1: points off the all time high of eighty one hundred

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Speaker 1: and forty eight point seven points that was set back

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Speaker 1: in August. A rally in U S stocks helped things along,

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Speaker 1: while the miners set the pace locally, with uranium and

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Speaker 1: lithium players among the best. Rising Brent prices help the

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Speaker 1: oil and gas companies, while tech letter wise tech Global

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Speaker 1: hit a record high, jumping almost four percent today. The

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Speaker 1: banks were higher, led by Westpac ain Z and Commwell

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Speaker 1: Fakwell Goodman Group jump more than two percent. The retailers

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Speaker 1: in Telstra were among the underperformers, though even they did

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Speaker 1: pretty well. Story number two in corporate news media reports

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Speaker 1: suggests that Star Entertainment's lenders have offered to give the

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Speaker 1: gaming group an extra one hundred and fifty million dollars

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Speaker 1: to help it survive a cash crunch caused by cost

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Speaker 1: blowouts at its new Brisbane casino and a slowdown in

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Speaker 1: patrons visiting its gaming flows. Its shares were suspended today

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Speaker 1: now health insurer nib Rose after chief executive Mark Fitzgibbon

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Speaker 1: announced he'd step down in November after more than two

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Speaker 1: decades leading the company. Brick Works will take a one

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Speaker 1: hundred and twenty four million dollar expense this fiscal year

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Speaker 1: due to a severe deterioration in building activity in Sydney

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Speaker 1: and Brisbane, higher operating costs and a slowdown in the

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Speaker 1: US market. And Woodside Energy has been forced to temporarily

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Speaker 1: cease production at its shen Z Oil and Gas field

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Speaker 1: in the US Gulf of Mexico as Hurricane Francene tracks

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Speaker 1: through the area. Sorry number three plenty happening on Wall Street.

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Speaker 1: Chip maker Nvidia's share price jumped eight percent overnight after

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Speaker 1: CEO Jensen Huang said the company is struggling to meet

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Speaker 1: demand expectations. He said customers had no choice but to

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Speaker 1: embrace accelerated computing and as a result, they need Nvidia chips.

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Speaker 1: Staying in the AI space, open ai is in talks

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Speaker 1: to raise about six point five billion US dollars, according

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Speaker 1: to Bloomberg, at a company valuation of one hundred and

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Speaker 1: fifty billion US. Basically, it's become the world's most valuable

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Speaker 1: startup company. Founded in twenty fifteen, open ai has been

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Speaker 1: at the center of the technology industry's rapid shift towards AI,

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Speaker 1: kicking off an investing frenzy in twenty twenty two with

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Speaker 1: a debut of chat GPT. All the positive years helped

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Speaker 1: the tech heavy NASDAT close up two point two percent overnight,

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Speaker 1: while they broughder SMP five hundred finished more than one

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Speaker 1: percent higher. Otherwise, in global markets, oil is up at touch,

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Speaker 1: trading around seventy one a US dollars a barrel, goals

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Speaker 1: at twenty five hundred and seventeen US dollars an ounce,

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Speaker 1: and the Aussie dollar is buying almost sixty seven US cents.

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Speaker 1: Story number four Lithium and nickel minor Igo has promised

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Speaker 1: to continue to focus on battery minerals, even though prices

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Speaker 1: have fallen sharply, and it wants to add copper to

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Speaker 1: its list of products. Isio share price jumped seven percent. Today,

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Speaker 1: Chief executive Ivan Vella outlined the group's strategy to investors.

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Speaker 1: He expects extreme volatility in lithium prices for the next decade,

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Speaker 1: though he added Igo would have a lesser focus on

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Speaker 1: nickel that commodity has experienced huge supply growth out of Indonesia,

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Speaker 1: sending its price tumbling. Mister Vella wants to build a

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Speaker 1: copper division that is a mature industry and that will

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Speaker 1: provide Igo with a stable compliment to the volatility of

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Speaker 1: the lithium sector. According to the Boss, lithian prices are

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Speaker 1: less than ten percent what they were at the beginning

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Speaker 1: of the year and story number five. Donald Trump has

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Speaker 1: suggested he would not debate Carmla Harris again unless it

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Speaker 1: was on his own terms. After he lost yesterday's debate

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Speaker 1: on a points decision, Mister Trump criticized the ABC News

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Speaker 1: network that hosted the debate and insisted he had won,

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Speaker 1: even though most commentators, including conservatives, disagree. Mister Trump also

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Speaker 1: said that miss harris request for another debate proved that

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Speaker 1: she had lost because only the loser asks for a rematch.

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Speaker 1: Statpole suggests Miss Harris won the debate by wide margin.

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Speaker 1: Royds is reporting that Trump donors and advisors believe he

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Speaker 1: had lost the debate, while shares in his media company

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Speaker 1: film more than thirteen percent, and then the share price

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Speaker 1: of Trump Media and Technology Group tends to oscillate with

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Speaker 1: mister Trump's prospects of returning to office. That's it the

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Speaker 1: Afternoon Report for Thursday, the twelfth of September twenty twenty four.

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Speaker 1: Michael Thompson and I will be back tomorrow morning with

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Speaker 1: a Friday edition of Fear and Greed Business News. I'm

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Speaker 1: Seane Elmer. Enjoy your evening,