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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 twurfth 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: Fakewell 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 Entertainments 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 fran Scene

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Speaker 1: tracks through the area. Story number three plenty happening on

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Speaker 1: Wall Street. Chip maker Nvidia's share price jumped eight percent

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Speaker 1: overnight after CEO Jensen Huang said the company is struggling

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

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Speaker 1: but to embrace accelerated computing and as a result, they

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Speaker 1: need Nvidio chips. Staying in the AI space, open ai

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Speaker 1: is in talks to raise about six point five billion

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Speaker 1: US dollars according to Bloomberg, at a company valuation of

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Speaker 1: one hundred and fifty billion US. Basically, it's become the

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Speaker 1: world's most valuable startup company. Founded in twenty fifteen, open

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Speaker 1: ai has been at the center of the technology industry's

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Speaker 1: rapid shift towards AI, kicking off an investing frenzy in

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Speaker 1: twenty twenty two with the debut of chat GPT. All

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Speaker 1: the positive years helped the tech heavy NASDAT close up

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Speaker 1: two point two percent overnight, while they brought a SMP

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Speaker 1: five hundred finished more than one percent higher. Otherwise, in

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Speaker 1: global markets, oil is up attuch, trading around seventy one

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Speaker 1: a US dollars a barrel, goals at twenty five hundred

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Speaker 1: and seventeen US dollars an ounce, and the Aussie dollar

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Speaker 1: is buying almost sixty seven US cents. Story number four

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Speaker 1: Lithium and nickel minor Igo has promised to continue to

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Speaker 1: focus on battery minerals even though prices have fallen sharply,

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Speaker 1: and it wants to add copper to its list of products.

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Speaker 1: Isio share price jumped seven percent today after chief executive

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Speaker 1: Ivan Vella outlined the group's strategy to investors. He expects

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

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

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Speaker 1: 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: Roydis 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 as it for

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

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Speaker 1: twenty four, don't forget to follow on the podcast and

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Speaker 1: find Fear and Greed on LinkedIn, Instagram, x TikTok and Facebook.

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Speaker 1: Join Michael Thompson and I Tomorrow'm morning for the Fast

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Speaker 1: Five by Fear and Greed, the top five business stores

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Speaker 1: you need to know in just five minutes. I'm Sean Elmer.

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Speaker 1: Enjoy your evening