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

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Speaker 1: for Monday, the twenty seventh of October twenty twenty five.

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Speaker 1: Are Michael Thompson and every afternoon, we've got the five

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

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Speaker 1: Let's go with story number one. The S and p

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Speaker 1: ASX two hundred climbed zero point four percent today to

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Speaker 1: nine thy fifty six points, with gains in eight of

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Speaker 1: the eleven sectors. The market had a boost from Wall

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Speaker 1: Street over the weekend, where easing inflation added to optimism

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Speaker 1: about a FED rate cut this week. Talks of a

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Speaker 1: potential trade deal as well between the US and China's

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Speaker 1: also improving sentiment after two days of talks between the

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Speaker 1: countries in Malaysia. All that led to a pretty good

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Speaker 1: day for the local boss. The big banks were all up,

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Speaker 1: while higher oil prices gave Santos and Woodside a boost.

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Speaker 1: The tech stocks they had a cracker tracking app Life

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Speaker 1: three sixty was up nearly five percent by now pay

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Speaker 1: later operator Zip climbed three percent, Appen was up four percent.

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Speaker 1: A good day too for the industrials. Shipbuilder Ostel climbed

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Speaker 1: more than three percent, as did quantas at the other

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Speaker 1: end of the market, though, was Nue's Shares in the

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Speaker 1: data analysis software company tumbled more than sixteen percent after

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Speaker 1: chief executive Jonathan Rubinstein announced that he'd stepped down at

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Speaker 1: the end of the month. Chair Robert McTeer said it

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Speaker 1: was the right time for Rubenstein to leave after returning

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Speaker 1: new X to a solid footing after a very tumultuous

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Speaker 1: period following the companies listing in twenty twenty on destorying

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Speaker 1: number two. Now and the Competition Watchdog has launched legal

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Speaker 1: action against Microsoft, alleging the tech giant misled almost three

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Speaker 1: million Australians into paying more for its AI assistant copilot.

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Speaker 1: The HBC claims Microsoft falsely implied that customers had to

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Speaker 1: upgrade to a more expensive Microsoft three sixty five plan

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Speaker 1: when cheaper options actually did remain available. Prices rose up

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Speaker 1: to forty five percent last October, effecting about two point

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Speaker 1: seven million users. A Triple C Chair Gina Cascottlieb said

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Speaker 1: Microsoft hid the classic non AI option unless customers tried

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Speaker 1: to cancel. The regulators seeking refunds major penalties. We're going

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Speaker 1: to have a lot more on this story tomorrow and

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Speaker 1: take a closer look at what it means for other

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Speaker 1: companies as well that are embedding AI features into their products.

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Speaker 1: Onto storry Number three. Australia's housing market showed a few

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Speaker 1: signs perhaps of fatigue last week, with the auction clearance

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Speaker 1: rate falling to seventy point five percent. It is still good,

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Speaker 1: but it's the lowest since June. The latest figures from

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Speaker 1: Cotality show that more than three thy two hundred homes

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Speaker 1: went under the hammer last week. It was the busiest

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Speaker 1: week since March last year. Melbourne led the way with

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Speaker 1: nearly eighteen hundred auctions. That's its busiest week since twenty

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Speaker 1: twenty one, but its clearance rates slipped to seventy one

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Speaker 1: point eight percent. Sydney's clearance rate dropped below seventy percent

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Speaker 1: for the first time in five months, while Brisbane and

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Speaker 1: Adelaide both east slightly. Volumes are expected to fall perhaps

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Speaker 1: significantly this week, particularly in Melbourne due to the spring

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Speaker 1: racing carnival, and if the RBA cuts rates next week,

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Speaker 1: well all bets are off. Story number four. Copper prices

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Speaker 1: are closing in on a record as the US and

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Speaker 1: China get closer to announcing a major deal to ease

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Speaker 1: trade tensions. I alluded to that in the first story today,

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Speaker 1: But copper is considered a bellweather metal for the economy

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Speaker 1: because it's used so broadly across a whole bunch of

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Speaker 1: different industries, and it rose today as high as eleven

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Speaker 1: thousand and sixty five US dollars a ton, That is

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Speaker 1: within fifty dollars of an all time peak. This is

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Speaker 1: as those talks between Washington and Beijing kind of inched

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Speaker 1: closer to this deal. It's not just about the US

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Speaker 1: and China, though, Who've had mind disruptions in Indonesia and Africa.

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Speaker 1: That's titan supply. A weaker US dollar has also contributed

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Speaker 1: optimism though around clean energy demand. All of these factors

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Speaker 1: have combined to push prices higher. Finally, sorry number five.

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Speaker 1: Russia has successfully tested a new nuclear powered cruise missile

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Speaker 1: with near unlimited range, according to President Vladimir Putin, who

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Speaker 1: says it could evade all existing defenses. The Bruvesnik missile

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Speaker 1: reportedly flew fourteen thousand kilometers during testing, remaining airborne for

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Speaker 1: fifteen hours, using nuclear power rather than traditional fuels. One

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Speaker 1: analyst told The New York Times that it is like

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Speaker 1: a tiny flying Schernobyl, while others have highlighted the potential

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Speaker 1: environmental threat. In a video released by the Kremlin, Putin

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Speaker 1: described it as a unique product that no one in

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Speaker 1: the world has, saying we need to identify potential uses

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Speaker 1: and begin preparing the infrastructure for deploying the weapon in

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Speaker 1: our armed forces. The announcement about the missile, which is

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Speaker 1: ominously code named Skyfall by NATO, comes after planned peace

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Speaker 1: talks between the US and Russia over the war in

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Speaker 1: Ukraine were canceled last week. Week. That's it for the

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Speaker 1: afternoon Report for Monday, the twenty seventh of October. Make

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Speaker 1: sure you hit follow on the podcast and head on

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Speaker 1: to Fearangreed dot com dot au to sign up for

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Speaker 1: our free daily newsletter and go into the draw. It's

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Speaker 1: put a link in today's show notes. I'm Michael Thompson.

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Speaker 1: Enjoy your eating