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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 fifty six points, with gains in eight of the

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

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

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

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

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

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

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Speaker 1: 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 textocks they had a cracker tracking app Life three

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Speaker 1: point 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: Newex to a solid footing after a very tumultuous period

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Speaker 1: following the companies listing in twenty twenty on destory number two.

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Speaker 1: Now and the Competition Watchdog has launched legal action against Microsoft,

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Speaker 1: alleging the tech giant misled almost three million Australians into

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Speaker 1: paying more for its AI assistant copilot. The HBC claims

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Speaker 1: Microsoft falsely implied that customers had to upgrade to a

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Speaker 1: more expensive Microsoft three sixty five plan when cheaper options

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Speaker 1: actually did remain available. Prices rose up to forty five

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Speaker 1: percent last October, effecting about two point seven million users.

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Speaker 1: A Triple C Chair Gina Cascottlieb said Microsoft hid the

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Speaker 1: classic non AI option unless customers tried to cancel. The

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Speaker 1: regulators seeking refunds major penalties. We are going to have

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Speaker 1: a lot more on this story tomorrow and take a

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Speaker 1: closer look at what it means for other companies as

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

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Speaker 1: to 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 bell weather metal for the

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

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

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

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

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

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

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

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Speaker 1: and Africa. That's titan supply. A weaker US dollar has

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Speaker 1: also contributed optimism though around clean energy demand. All of

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Speaker 1: these factors are combined to push prices higher. Finally, story

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Speaker 1: number five, Russia has successfully tested a new nuclear powered

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

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

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

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

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

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

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

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

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

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

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

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

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

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Speaker 1: in Ukraine were canceled last 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: win some pretty cool Fear and Greed merch. I'll also

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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 reading.