1 00:00:03,600 --> 00:00:06,080 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,120 --> 00:00:08,840 Speaker 1: for Friday, the twenty first of November twenty twenty five. 3 00:00:08,880 --> 00:00:11,680 Speaker 1: I'm Sean Aylmer. Every afternoon we bring you the five 4 00:00:11,680 --> 00:00:13,760 Speaker 1: big stories that happened today that you need to know about. 5 00:00:13,720 --> 00:00:16,840 Speaker 1: Stratum one. The S and PASX two hundred tumbled one 6 00:00:16,880 --> 00:00:19,880 Speaker 1: point six percent today to close it eighty four hundred 7 00:00:19,920 --> 00:00:23,119 Speaker 1: and seventeen points. That's nearly four percent for the week, 8 00:00:23,239 --> 00:00:26,360 Speaker 1: eight percent for the past month. Investors got a poor 9 00:00:26,440 --> 00:00:29,320 Speaker 1: leading from Wall Street, and when the selling began everyone 10 00:00:29,400 --> 00:00:32,360 Speaker 1: jumped in. The Materials index fell four percent, Energy was 11 00:00:32,360 --> 00:00:35,839 Speaker 1: off three percent, Industrials were down two percent. BHP led 12 00:00:35,880 --> 00:00:38,599 Speaker 1: the way lower, falling three point four percent after reports 13 00:00:38,640 --> 00:00:42,000 Speaker 1: that Chinese buyers had been instructed to stop buying a 14 00:00:42,040 --> 00:00:45,400 Speaker 1: grade of the Big Australian's iron or Rio. Tinto also 15 00:00:45,479 --> 00:00:47,360 Speaker 1: fell three point four percent, while four to s QW 16 00:00:47,400 --> 00:00:49,440 Speaker 1: Medals was down close to five and a half percent. 17 00:00:49,800 --> 00:00:53,240 Speaker 1: The gold miners tumbled, as did the critical minerals groups. 18 00:00:53,280 --> 00:00:55,720 Speaker 1: The banks were mostly lower, though not as much as 19 00:00:55,720 --> 00:00:59,120 Speaker 1: the index, while healthcare and consumer staple stocks like woolies 20 00:00:59,160 --> 00:01:02,600 Speaker 1: and coals out formed. Story number two that big drop 21 00:01:02,640 --> 00:01:05,720 Speaker 1: on the local market followed a wild ride on Wall Street. 22 00:01:06,200 --> 00:01:10,200 Speaker 1: Markets initially opened higher on the back of Nvidia's strong result, 23 00:01:10,720 --> 00:01:14,400 Speaker 1: but then fear end volatility kicked in. In a few 24 00:01:14,440 --> 00:01:18,840 Speaker 1: hours of trading, two trillion US dollars three trillion OZZY 25 00:01:19,360 --> 00:01:21,800 Speaker 1: was wiped off the market. The broad based S and 26 00:01:21,880 --> 00:01:24,960 Speaker 1: P five hundred finished down one point six percent, while 27 00:01:25,000 --> 00:01:27,160 Speaker 1: the tech heavy Nasdaq was off more than two percent. 28 00:01:27,480 --> 00:01:30,880 Speaker 1: Crypto leader Bitcoin tumbled. It's now trading around eighty eight 29 00:01:30,920 --> 00:01:33,600 Speaker 1: thousand US dollars a unit, having lost all of its 30 00:01:33,600 --> 00:01:37,440 Speaker 1: gains over this year. While there is plenty of trepidation 31 00:01:37,600 --> 00:01:39,759 Speaker 1: about the AI boom at the moment and whether it's 32 00:01:39,760 --> 00:01:43,520 Speaker 1: a bubble, a mixed jobs update also hurt the market. 33 00:01:43,720 --> 00:01:46,400 Speaker 1: In September in the US, one hundred and nineteen thousand 34 00:01:46,400 --> 00:01:50,200 Speaker 1: new jobs were created above expectations, but the jobless rate 35 00:01:50,280 --> 00:01:54,280 Speaker 1: unexpectedly climbed to four point four percent. There is just 36 00:01:54,360 --> 00:01:56,280 Speaker 1: a lot more fear than greed in the US and 37 00:01:56,320 --> 00:01:59,960 Speaker 1: Australian economies at the moment. Story number three. The Bureau 38 00:02:00,160 --> 00:02:03,640 Speaker 1: of Meteorology has declared a cyclone warning for Darwin as 39 00:02:03,840 --> 00:02:08,440 Speaker 1: tropical Cyclone Fena moves towards the Northern Territory. The tropical 40 00:02:08,440 --> 00:02:11,240 Speaker 1: cyclone is currently a Category one storm, but the Weather 41 00:02:11,280 --> 00:02:14,760 Speaker 1: Bureau of forecasts it will strengthen over the weekend, potentially 42 00:02:14,800 --> 00:02:19,640 Speaker 1: reaching category three early on Friday. This morning, Cyclone Feena 43 00:02:19,720 --> 00:02:22,440 Speaker 1: was sustaining winds near the center of seventy five kilometers 44 00:02:22,480 --> 00:02:25,320 Speaker 1: an hour with gusts of up to one hundred kilometers 45 00:02:25,360 --> 00:02:27,400 Speaker 1: an hour, and was about three hundred and thirty five 46 00:02:27,440 --> 00:02:30,840 Speaker 1: kilometers northeast of Darwin, moving slowly. It's set to continue 47 00:02:30,880 --> 00:02:35,320 Speaker 1: southwest through the Van Demon Gulf tomorrow, heading just to 48 00:02:35,360 --> 00:02:37,840 Speaker 1: the north of Darwin, now within gus astrong. As one 49 00:02:37,919 --> 00:02:40,799 Speaker 1: hundred and fifty five kilometers an hour may develop as 50 00:02:40,800 --> 00:02:45,120 Speaker 1: the system nears the coast early tomorrow. Story number four 51 00:02:45,160 --> 00:02:47,799 Speaker 1: treasure Jim Chalmers has blocked a six hundred and seventy 52 00:02:47,800 --> 00:02:51,680 Speaker 1: two million dollar bid for main Farmer on national interest grounds, 53 00:02:51,760 --> 00:02:56,360 Speaker 1: killing the controversial transaction and basically granting the wish of 54 00:02:56,400 --> 00:03:01,160 Speaker 1: the ASX listed drug manufacturer's reluctant suitor, a US crowd 55 00:03:01,200 --> 00:03:05,400 Speaker 1: called Cosette. Cosette's, a private equity backed healthcare giant, was 56 00:03:05,440 --> 00:03:08,079 Speaker 1: attempting to back out of the takeover offer and had 57 00:03:08,120 --> 00:03:11,560 Speaker 1: threatened to close the company's Adelaide manufacturing plant, which employs 58 00:03:11,560 --> 00:03:14,440 Speaker 1: two hundred people. It had already lost court action in 59 00:03:14,480 --> 00:03:16,720 Speaker 1: the New South Wales Supreme Court in which it was 60 00:03:16,760 --> 00:03:19,600 Speaker 1: trying to dump the deal now. Charmers said the final 61 00:03:19,680 --> 00:03:22,600 Speaker 1: decision was based on Foreign Investment Review Board advice and 62 00:03:22,720 --> 00:03:26,240 Speaker 1: Quash's shareholders hopes that a Takeover's panel ruling this week 63 00:03:26,240 --> 00:03:29,400 Speaker 1: could have saved the deal. What's it all about? Well, 64 00:03:29,560 --> 00:03:32,960 Speaker 1: Main Farmer's share price fell twenty three percent today to 65 00:03:33,000 --> 00:03:38,000 Speaker 1: four dollars forty five. Cassette's offer was seven dollars forty 66 00:03:38,600 --> 00:03:42,160 Speaker 1: That's a big difference. Story number five. Star Entertainment's proposed 67 00:03:42,240 --> 00:03:46,120 Speaker 1: new owners, Bally's Corporation, has received probity approval from the 68 00:03:46,160 --> 00:03:49,600 Speaker 1: New South Wales regulator, meaning the American casino and entertainment 69 00:03:49,600 --> 00:03:53,000 Speaker 1: giant can take control of the group. The New South 70 00:03:53,000 --> 00:03:56,440 Speaker 1: Wales Independent Casino Commission said Bally's had cleared an executive 71 00:03:56,440 --> 00:04:00,000 Speaker 1: probity investigation that was assessing whether it was financially suitable 72 00:04:00,240 --> 00:04:03,640 Speaker 1: to operate a casino. Bally's and the billionaire Matheson family 73 00:04:03,720 --> 00:04:06,320 Speaker 1: made a three hundred million dollar offer for Star five 74 00:04:06,360 --> 00:04:09,600 Speaker 1: months ago. The decision does not affect the current state 75 00:04:09,720 --> 00:04:12,280 Speaker 1: of the Star's license to operate a casino in Sydney, 76 00:04:12,560 --> 00:04:16,799 Speaker 1: which remains suspended and overseen by independent manager Nick Weeks. 77 00:04:16,960 --> 00:04:19,160 Speaker 1: That's it for the afternoon report for Friday, the twenty 78 00:04:19,200 --> 00:04:21,200 Speaker 1: first of November twenty twenty five. Make sure you hit 79 00:04:21,240 --> 00:04:23,240 Speaker 1: follow on the podcast and had Along to Fear in 80 00:04:23,279 --> 00:04:25,000 Speaker 1: Green dot Com Today you to sign up for our 81 00:04:25,040 --> 00:04:28,239 Speaker 1: free daily newsletter. I'm Shane Elma and Joey Reveneck.