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

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Speaker 1: for Thursday these seventheenth, both Bril twenty twenty five. I'm

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

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

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Speaker 1: the labor market rebounded strongly last month, but economists still

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Speaker 1: believe the Reserve Bank will cut interest rates when it

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Speaker 1: meets in May. Around thirty two thousand people found work

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Speaker 1: in March, slightly fewer than expected, and the unemployment rates

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Speaker 1: stayed at four point one percent. It followed a surprising

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Speaker 1: drop off fifty three thousand jobs in February. The result

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Speaker 1: today helped boy the local market, with the SMPASX two

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Speaker 1: hundred closing up just under one percent to eight hundred

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Speaker 1: and nineteen points. That was pretty much on the back

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Speaker 1: of a big jump in energy stocks. Straight number two,

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Speaker 1: there's a bit of corporate news around today. The corporate

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Speaker 1: regulator will push her head with a formal investigation of

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Speaker 1: Wistech globals market disclosures. Up until now, it's been a

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Speaker 1: preliminary investigation, and BHP said it's shipped a week in

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Speaker 1: an expected volume of Australian iron ore. Over the past

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Speaker 1: three months, sales of Australian iron or were four percent

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Speaker 1: lower than the same period last year. Story number five.

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Speaker 1: There's some good news for a couple of wealth managers today.

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Speaker 1: Annuities in wealth management group Challenger rallied ten percent after

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Speaker 1: it narrowed its fiscal year twenty five normalized net profit

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Speaker 1: guidance obviously came in higher than what analysts expected, and

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Speaker 1: to AMP also ended higher after its platform as Business

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Speaker 1: recorded an increase in net cash flows. Story number four.

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Speaker 1: Opposition leader Peter Dutton's aspirational pledge to index personal income

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Speaker 1: tax brackets in the future has headlined the political debate today.

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Speaker 1: In an interview with The Australian, Dunton said heid index

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Speaker 1: personal tax in the future when the budget was healthy enough.

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Speaker 1: His comments through the attention of Treasury Jim Chalmers. He

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Speaker 1: said the idea should have Dunton laughed off the stage.

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Speaker 1: During his own press conference this afternoon, the Opposition leader

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Speaker 1: was asked whether he could anticipate the budget being able

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Speaker 1: to afford the change. Dunton didn't provide any details, instead

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Speaker 1: taking a jab at the Prime Minister. According to the

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Speaker 1: City Morning Herald, He said, first of all, if I

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Speaker 1: fell off the stage, I wouldn't lie about it. He

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Speaker 1: was referring to Albanezi slipping off a stage earlier in

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Speaker 1: the campaign that saying he hadn't fallen dune, and then

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Speaker 1: went on to discuss the benefits Australians would receive from

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Speaker 1: his plan to cut the fuel excise and finally story

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Speaker 1: number five, Donald Trump's tariffs are likely to put at

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Speaker 1: risk the Federal Reserves goals of keeping prices and unemployment

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Speaker 1: in check, j Powell warned as he emphasized the US

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Speaker 1: Central Bank's focus on inflation. Overnight, the Fed chiefs said

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Speaker 1: the Trump administration is implementing significant policy changes, and particularly

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Speaker 1: trade is now the focus. The effects of that are

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Speaker 1: likely to move US away from our goals, according to

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Speaker 1: The Financial Times. Powell also said the president's tariffs and

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Speaker 1: out so far have been significantly larger than anticipated, adding

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Speaker 1: that the same was likely to be true of the

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Speaker 1: economic effects, which will include higher inflation in slower growth.

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Speaker 1: US stocks extended a selloff that began earlier in the

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Speaker 1: day as the Fed chair spoke. The SDP five hundred

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Speaker 1: ended the day down more than two percent. It was

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Speaker 1: some of the strongest commentary yet from the FED Chair

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Speaker 1: on the Trump administration's economic policies. That's it for the

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Speaker 1: Afternoon Report for Thursday, these seventeenth of April twenty to

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We will be back tomorrow morning with the Good Friday

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Speaker 1: edition of the past five business news by Fear and Greed.

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Speaker 1: I'm Seane Elmer. Enjoy you read me