1 00:00:03,600 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,440 --> 00:00:09,039 Speaker 1: for Monday, the tenth of November twenty twenty five. Are 3 00:00:09,080 --> 00:00:11,879 Speaker 1: Michael Thompson, and every afternoon we bring you the five 4 00:00:12,080 --> 00:00:14,680 Speaker 1: big stories that happened today that you need to know about. 5 00:00:15,080 --> 00:00:17,120 Speaker 1: Let's go with story number one. The S and PA 6 00:00:17,120 --> 00:00:19,880 Speaker 1: s X two hundred climbed zero point eight percent today 7 00:00:20,120 --> 00:00:23,799 Speaker 1: to eight hundred and thirty six points, fueled by optimism 8 00:00:23,840 --> 00:00:26,840 Speaker 1: that an end to the US government shutdown is just 9 00:00:26,960 --> 00:00:28,720 Speaker 1: around the corner. We'll have more on that one a 10 00:00:28,760 --> 00:00:31,400 Speaker 1: little later on. Nine of the eleven sectors on the 11 00:00:31,440 --> 00:00:34,239 Speaker 1: local bourse ended the day higher. We'll start with the 12 00:00:34,280 --> 00:00:38,000 Speaker 1: tech stocks which were the best wise. Tech Global was 13 00:00:38,080 --> 00:00:40,760 Speaker 1: up six point two percent. The monitoring app Life three 14 00:00:40,840 --> 00:00:43,199 Speaker 1: sixty was up three point six percent. A good day 15 00:00:43,240 --> 00:00:46,800 Speaker 1: for the miners, iron ore, uranium, critical minerals companies all 16 00:00:46,840 --> 00:00:49,839 Speaker 1: did well. Renewed hopes of an interest rate cut in 17 00:00:49,880 --> 00:00:53,480 Speaker 1: December in the US helped the gold price climb, which 18 00:00:53,520 --> 00:00:56,840 Speaker 1: then flowed through to the local gold miners. Evolution, Perseus 19 00:00:56,840 --> 00:00:58,680 Speaker 1: and Northern Star were all up between three and a 20 00:00:58,720 --> 00:01:02,720 Speaker 1: half the three point nine percent. The banks are worth 21 00:01:02,800 --> 00:01:06,240 Speaker 1: a mention on their own a mixed day really for 22 00:01:06,360 --> 00:01:09,720 Speaker 1: the financials, but A and Z soared three point two 23 00:01:09,720 --> 00:01:13,000 Speaker 1: percent despite reporting a drop in cash profit and coming 24 00:01:13,040 --> 00:01:17,440 Speaker 1: in under forecasts. It also emerged former leaders at the 25 00:01:17,480 --> 00:01:20,360 Speaker 1: bank would be docked millions of dollars in bonuses over 26 00:01:20,400 --> 00:01:22,520 Speaker 1: governance issues. We'll have a lot more on that one 27 00:01:22,560 --> 00:01:25,480 Speaker 1: in tomorrow morning show. As for the other banks, Westpac 28 00:01:25,640 --> 00:01:28,440 Speaker 1: climbed one point four percent, but both Commonwealth Bank and 29 00:01:28,560 --> 00:01:32,920 Speaker 1: NAB lost Brown today story number two in a really 30 00:01:32,920 --> 00:01:35,480 Speaker 1: a sure sign that the cost of living crisis has 31 00:01:35,560 --> 00:01:39,679 Speaker 1: not gone away. McDonald's has singled out Australia as one 32 00:01:39,720 --> 00:01:43,520 Speaker 1: of the best performing markets for its new Mcwing's product 33 00:01:43,600 --> 00:01:47,720 Speaker 1: because diners are shifting from beef to cheaper chicken. The 34 00:01:47,880 --> 00:01:52,240 Speaker 1: global CEO of McDonald's, Chris Kempsinski, said that Australians have 35 00:01:52,320 --> 00:01:56,680 Speaker 1: embraced value meals such as the Mcsmart and Loose Change menus, 36 00:01:56,880 --> 00:02:00,960 Speaker 1: which were price locked for twelve months. The Mcwing's range 37 00:02:01,080 --> 00:02:03,800 Speaker 1: proved so successful that it's now a permanent menu item. 38 00:02:03,840 --> 00:02:07,600 Speaker 1: With McDonald's planning to expand its global chicken offerings, chickens 39 00:02:07,760 --> 00:02:10,880 Speaker 1: lower costs has made it increasingly important for fast food 40 00:02:10,880 --> 00:02:16,799 Speaker 1: operators battling higher beef prices, higher rents and higher wages. Australians, interestingly, 41 00:02:16,800 --> 00:02:20,480 Speaker 1: are among the world's biggest chicken eaters. We consume about 42 00:02:20,600 --> 00:02:25,799 Speaker 1: fifty four kilograms per person each year. Storing number three. 43 00:02:25,919 --> 00:02:29,280 Speaker 1: Former South Australian Premier Jay Weatherill has scored one of 44 00:02:29,360 --> 00:02:32,880 Speaker 1: the plumb diplomatic gigs for ex Polys, becoming the next 45 00:02:33,520 --> 00:02:37,640 Speaker 1: High Commissioner to London representing Australia, and he's going to 46 00:02:37,639 --> 00:02:41,240 Speaker 1: be replacing former Defense Minister Stephen Smith. Prime Minister Anthony 47 00:02:41,240 --> 00:02:45,480 Speaker 1: Albanesi said Weatherill's experience in defense industry development would be 48 00:02:45,560 --> 00:02:49,400 Speaker 1: key to advancing the Orchest Pact, noting his role that 49 00:02:49,440 --> 00:02:53,639 Speaker 1: he played in securing submarine construction for South Australia. Weatherall 50 00:02:53,720 --> 00:02:57,160 Speaker 1: served as Premier from twenty eleven to twenty eighteen and 51 00:02:57,280 --> 00:03:01,000 Speaker 1: is regarded as one of Labour's most experienced state leaders. 52 00:03:01,440 --> 00:03:04,360 Speaker 1: Onto story number four Now and the Federal government's National 53 00:03:04,400 --> 00:03:08,960 Speaker 1: Reconstruction Fund has joined Amazon founder Jeff Bezos and Microsoft's 54 00:03:09,000 --> 00:03:13,480 Speaker 1: Bill Gates in backing brain chip pioneer Syncron. The NRF 55 00:03:13,680 --> 00:03:16,120 Speaker 1: is taking a fifty four million dollar steak in the 56 00:03:16,160 --> 00:03:18,120 Speaker 1: New York based company as part of a three hundred 57 00:03:18,120 --> 00:03:21,880 Speaker 1: million dollar fund raising round led by Australian neurologist Dr 58 00:03:21,919 --> 00:03:25,320 Speaker 1: Tom Oxley, who plans to run trials in Melbourne. This 59 00:03:25,480 --> 00:03:29,320 Speaker 1: is a really interesting enterprise. The goal is to allow 60 00:03:29,480 --> 00:03:34,079 Speaker 1: paralyzed people to control computers with their thoughts. Other investors 61 00:03:34,080 --> 00:03:39,040 Speaker 1: include Bezos's personal investment firm, the Katar government, the CIA 62 00:03:39,200 --> 00:03:44,080 Speaker 1: backed IQT and biotech investor Double Point Ventures. And finally 63 00:03:44,120 --> 00:03:46,440 Speaker 1: story number five. I mentioned this one earlier. The US 64 00:03:46,560 --> 00:03:50,400 Speaker 1: government is inching closer to reopening after the moderate Democrats 65 00:03:50,400 --> 00:03:53,280 Speaker 1: in the Senate broke ranks to support the progression of 66 00:03:53,320 --> 00:03:57,480 Speaker 1: a funding deal. The measure, pasted sixty forty, still needs 67 00:03:57,520 --> 00:04:01,160 Speaker 1: to be fully passed by the Senate, Thencongress, then signed 68 00:04:01,160 --> 00:04:04,480 Speaker 1: by the President, but it would fund key departments through 69 00:04:04,480 --> 00:04:07,920 Speaker 1: the end of January, while paying furloughed workers and resuming 70 00:04:08,000 --> 00:04:11,240 Speaker 1: federal payments including food stamps. And it was actually that 71 00:04:11,400 --> 00:04:15,280 Speaker 1: final part that motivated some Democrats to break ranks. They 72 00:04:15,360 --> 00:04:19,200 Speaker 1: described it basically as a true crisis. President Donald Trump 73 00:04:19,360 --> 00:04:22,159 Speaker 1: welcomed the progress, saying it looks like we're getting closer 74 00:04:22,160 --> 00:04:25,360 Speaker 1: to the shutdown ending. The forty day standoff is the 75 00:04:25,440 --> 00:04:28,600 Speaker 1: longest in US history and it has cost the economy 76 00:04:28,920 --> 00:04:33,000 Speaker 1: and estimated eighteen billion dollars so far. That's it for 77 00:04:33,000 --> 00:04:35,840 Speaker 1: the afternoon Report for Monday, the tenth of November. Make 78 00:04:35,880 --> 00:04:38,040 Speaker 1: sure you hit follow on the podcast and visit Fear 79 00:04:38,080 --> 00:04:40,599 Speaker 1: and Greed dot com dot au to sign up for 80 00:04:40,600 --> 00:04:42,760 Speaker 1: our free daily newsletter. There's a link as well. In 81 00:04:42,800 --> 00:04:45,640 Speaker 1: today's show notes, I'm Michael Thompson. Enjoy your inking.