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

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Speaker 1: for Wednesday, the sixth of November twenty twenty four. I'm

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Speaker 1: Sean Aelma. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Straight number one,

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Speaker 1: Donald Trump is favorite to win the US presidential poll

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Speaker 1: after winning several of the Battle of Ground states or

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Speaker 1: at least leading, including Pennsylvania, which has all important nineteen

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Speaker 1: Electoral College votes and is a must win for CARLMLA Harris.

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Speaker 1: Mister Trump has won North Carolina, another key state, and

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Speaker 1: he's leading in Georgia as we go to where the

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Speaker 1: New York Times has put the chance of mister Trump

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Speaker 1: winning at ninety percent. The Democrats and CARMLA Harris un

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Speaker 1: likely to concede the vote until tomorrow Australian time, given

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Speaker 1: the closeness of the race, But as it stands right now,

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Speaker 1: Donald Trump is set to become the forty seventh president

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Speaker 1: of the US and only the second to win the job,

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Speaker 1: having previously lost it. Story number two, it seems markets

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Speaker 1: are certainly confident of a Trump victory, with the US

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Speaker 1: dollar jumping and bitcoin hitting a new record. The US

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Speaker 1: dollars up one and a half percent against other major currencies,

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Speaker 1: the biggest one day move since March twenty twenty. It's

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Speaker 1: at a four month high. That's hit the Aussie dollar,

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Speaker 1: which has slumped more than a percent. It's down to

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Speaker 1: just above sixty five US sinse Bitcoin hit an all

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Speaker 1: time record of seventy four four hundred US dollars a unit.

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Speaker 1: It's up about eighty percent this year. Local Crypto Exchange

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Speaker 1: has said volumes were extremely high today. With the US

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Speaker 1: dollar high, some commodities are feeling the pressure. Copper, for example,

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Speaker 1: is lower goals. The outline, it's still trading close to

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Speaker 1: record highs. Bond yields have risen. Trump's plans to restrict

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Speaker 1: immigration and place tariffs on imports are inflationary and could

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Speaker 1: mean higher interest rates for longer storing. Number three, the

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Speaker 1: local sheer markets certainly seen enthused by the election results,

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Speaker 1: with the S and PASX two hundred closing up nearly

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Speaker 1: one percent to eight two hundred points. The general feeling

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Speaker 1: is that Trump is better for equities. We'll wait and

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Speaker 1: see on that one. Techtocs, financials, and consumer descreps. Tionary

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Speaker 1: companies did best. Energy stocks were worst. Come off. Bank

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Speaker 1: hit a record high of one hundred and forty five

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Speaker 1: dollars and thirty one cents quite the jugger or that company.

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Speaker 1: It's up forty five percent over the past year. National

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Speaker 1: Australia Bank releases its full year results tomorrow. Anz is.

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Speaker 1: On Friday, Domain dropped sharply after delivering a training update,

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Speaker 1: and Mineral Resources was down after the Future Fund, the

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Speaker 1: country's biggest investor, said it would seek more information from

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Speaker 1: the board on Chris Ellison's involvement in a tax evasion scheme.

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Speaker 1: Chris Ellison, of course, is the founding CEO of that company. Stratum,

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Speaker 1: a four forest few Metals group, held its annual general

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Speaker 1: meeting today. Executive chair Andrew Forrest said this company still

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Speaker 1: planned to be a major player in green energy despite

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Speaker 1: its retreat from hydrogen. Mister Forrest said that the company

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Speaker 1: wants to eliminate the use of fossil fuels in its

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Speaker 1: iron ore operation by twenty forty now a couple of

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Speaker 1: months ago. Back in July, Hydrogen dropped its green hydrogen

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Speaker 1: ambitions basically they were too expensive, too hard technology breakthroughs,

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Speaker 1: Mister Forrest says, as well as electrification of the mining

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Speaker 1: fleet will get Fortescue to that twenty forty ambition of

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Speaker 1: no fossil fuels. Fortescue also said it will lean on

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Speaker 1: the government to help reduce the cost of producing green energy.

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Speaker 1: And story number five industrial property group Goodman has done

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Speaker 1: more power deals for a new wave of data centers

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Speaker 1: that it's developing globally. Goodman is the ninth largest company

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Speaker 1: on the AX. It's up sixty five percent over the

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Speaker 1: last year. The best of the top ten now has

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Speaker 1: a network of eighty billion dollars worth of global properties.

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Speaker 1: It held its AGM today. It says it will push

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Speaker 1: further into data centers, but one of the big questions,

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Speaker 1: of course is power. How to get power into these centers.

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Speaker 1: The CEO Greg Goodman said data centers would end up

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Speaker 1: being built near industrial parks in places like western Sydney.

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Speaker 1: That's It's the Afternoon Report for Wednesday, the sixth of

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Speaker 1: November twenty twenty four. Don't forget follow on the podcast

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Speaker 1: and find Fear and Greed on LinkedIn, Instagram, x to

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Speaker 1: Talk and Facebook. Join Adam Lang and I Tomorrow I'm

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Speaker 1: wanting for the Fast five by Fear and Greed. Top

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Speaker 1: five business stories you need to know in just five minutes.

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Speaker 1: I'm Shane elma Enjoy your eating