1 00:00:04,280 --> 00:00:07,040 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,080 --> 00:00:09,760 Speaker 1: for Monday, the second of February twenty twenty six. I'm 3 00:00:09,760 --> 00:00:12,360 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:12,360 --> 00:00:14,280 Speaker 1: that happen today. What do you need to know about 5 00:00:14,720 --> 00:00:18,040 Speaker 1: Let's get straight into story number one. The SMPA SEX 6 00:00:18,079 --> 00:00:21,360 Speaker 1: two hundred closed one percent lower today to eighty seven 7 00:00:21,480 --> 00:00:24,560 Speaker 1: hundred and seventy nine points. Eight of eleven sectors be 8 00:00:24,640 --> 00:00:27,520 Speaker 1: lower in what was the market's biggest fall in ten weeks. 9 00:00:27,840 --> 00:00:31,080 Speaker 1: The price of gold continues to slide. It's actually about 10 00:00:31,120 --> 00:00:35,000 Speaker 1: one thousand US dollars below its peak of last week. 11 00:00:35,040 --> 00:00:38,239 Speaker 1: It's now trading at around four thousand, six hundred and 12 00:00:38,240 --> 00:00:40,879 Speaker 1: sixty seven US dollars an ounce. It was a bit 13 00:00:40,920 --> 00:00:43,960 Speaker 1: lower than that earlier today. A lot of it is 14 00:00:44,400 --> 00:00:47,440 Speaker 1: the extended reaction to the US President Donald Trump's appointment 15 00:00:47,479 --> 00:00:50,840 Speaker 1: of Kevin Walsh as the new Federal Reserve Chair, which 16 00:00:50,880 --> 00:00:51,479 Speaker 1: we talked. 17 00:00:51,240 --> 00:00:52,080 Speaker 2: About this morning. 18 00:00:52,600 --> 00:00:55,400 Speaker 1: The local gold miners have been sold off today, Neumont 19 00:00:55,600 --> 00:00:58,680 Speaker 1: down more than ten percent, Northern Start more than eight 20 00:00:58,720 --> 00:01:02,480 Speaker 1: percent lower. Story with the silver miners like South thirty 21 00:01:02,520 --> 00:01:04,640 Speaker 1: two and Sun Silver, the price of silver is dropping 22 00:01:04,680 --> 00:01:06,839 Speaker 1: as well. A bit of a mixed day for the banks, 23 00:01:06,880 --> 00:01:10,000 Speaker 1: but Comnwealth Bank was up one point four percent ahead 24 00:01:10,040 --> 00:01:14,200 Speaker 1: of tomorrow's Reserve Bank announcement, with the Central Bank widely 25 00:01:14,240 --> 00:01:18,320 Speaker 1: tipped to increase interest rates now. Combank's climb today was 26 00:01:18,400 --> 00:01:20,640 Speaker 1: enough for to take back the title of the largest 27 00:01:20,640 --> 00:01:24,559 Speaker 1: company on the Bourse. Also helped that minor BHP dropped 28 00:01:24,600 --> 00:01:27,959 Speaker 1: two point three percent, shunting it down into second place 29 00:01:28,480 --> 00:01:31,520 Speaker 1: onto story number two now and Bitcoin has fallen to 30 00:01:31,600 --> 00:01:35,280 Speaker 1: a fresh ten month low today, extending last month sell off. 31 00:01:35,280 --> 00:01:37,600 Speaker 1: The cryptocurrency fell as much as two and a half 32 00:01:37,680 --> 00:01:41,520 Speaker 1: percent today to around seventy four and a half thousand 33 00:01:41,640 --> 00:01:46,520 Speaker 1: US dollars before recovering slightly. Bitcoin fell eleven percent in January. 34 00:01:46,520 --> 00:01:50,040 Speaker 1: That was its fourth straight month of declines, the longest 35 00:01:50,120 --> 00:01:54,520 Speaker 1: losing streak since twenty eighteen. Other cryptocurrencies have also been 36 00:01:54,560 --> 00:01:58,080 Speaker 1: moving lower. Ethereum down nearly three percent, Solana off more 37 00:01:58,080 --> 00:02:01,560 Speaker 1: than one percent today, A number three one from politics. 38 00:02:01,640 --> 00:02:05,080 Speaker 1: Nationals leader David Little Prowd has survived a leadership challenge, 39 00:02:05,160 --> 00:02:08,480 Speaker 1: but now faces mounting pressure to reunite with the Liberals 40 00:02:08,720 --> 00:02:13,320 Speaker 1: as the coalition's political standing just continues to deteriorate as expected. 41 00:02:13,400 --> 00:02:17,280 Speaker 1: Queensland MP Colin Boyce did not get enough support to 42 00:02:17,360 --> 00:02:20,799 Speaker 1: force a spill vote today, but the challenge does seem 43 00:02:20,880 --> 00:02:23,480 Speaker 1: to have given a bit of courage to critics who 44 00:02:23,600 --> 00:02:26,440 Speaker 1: don't like the way Little Prowd has handled the split 45 00:02:26,520 --> 00:02:30,519 Speaker 1: with Opposition leader Susan Lee. In a fairly significant development, 46 00:02:30,639 --> 00:02:34,320 Speaker 1: senior Nationals MP Darren Chester has moved a motion calling 47 00:02:34,360 --> 00:02:37,280 Speaker 1: for the party to re enter the coalition. There are 48 00:02:37,320 --> 00:02:40,000 Speaker 1: talks between Susan Lee and David Little Prowd. They are 49 00:02:40,040 --> 00:02:43,160 Speaker 1: scheduled for six pm this evening. There'll be a further 50 00:02:43,240 --> 00:02:46,640 Speaker 1: Nationals party room meeting planned for tomorrow to consider the outcome. 51 00:02:46,680 --> 00:02:49,720 Speaker 1: They'll look at anything that's proposed out of this evening's meeting. 52 00:02:49,800 --> 00:02:53,160 Speaker 1: We will have more on this one tomorrow. Story number four, 53 00:02:53,280 --> 00:02:56,920 Speaker 1: the battle between Quantas and Virgin Australia for economy passengers 54 00:02:56,919 --> 00:03:00,320 Speaker 1: are certainly heading up, with both airlines now offering extra 55 00:03:00,440 --> 00:03:03,120 Speaker 1: legroom seats for as little as fifteen dollars on top 56 00:03:03,160 --> 00:03:06,480 Speaker 1: of the airfare. Quantas has now announced its new economy 57 00:03:06,520 --> 00:03:09,480 Speaker 1: plus seats on three different types of aircraft, with more 58 00:03:09,480 --> 00:03:12,400 Speaker 1: coming later this year. The seats offer up to forty 59 00:03:12,440 --> 00:03:17,000 Speaker 1: percent more legroom, priority boarding, guaranteed overhead locker space. The 60 00:03:17,040 --> 00:03:19,480 Speaker 1: prices vary by route, but just for instance, Sydney to 61 00:03:19,520 --> 00:03:21,880 Speaker 1: Melbourne is about thirty dollars extra. If you're a top 62 00:03:21,919 --> 00:03:25,520 Speaker 1: tier frequent flyer, you get the seats free. Virgin Australia 63 00:03:25,680 --> 00:03:29,480 Speaker 1: has actually been offering Economy X similar products for years. 64 00:03:29,720 --> 00:03:32,880 Speaker 1: That's responded with a sale, letting passengers get that extra 65 00:03:32,960 --> 00:03:35,320 Speaker 1: legroom for as little as fifteen dollars. It is a 66 00:03:35,320 --> 00:03:38,880 Speaker 1: good time to be a tall person flying Economy. Finally, 67 00:03:38,920 --> 00:03:41,160 Speaker 1: story number five. The Grammys have just wrapped up for 68 00:03:41,200 --> 00:03:43,840 Speaker 1: twenty twenty six, with a series of high profile artists 69 00:03:43,920 --> 00:03:47,160 Speaker 1: using the stage to speak out against immigration and Customs 70 00:03:47,320 --> 00:03:48,880 Speaker 1: enforcement or ICE. 71 00:03:48,720 --> 00:03:51,800 Speaker 2: In the United States. Billie Eilish ended her Song of 72 00:03:51,800 --> 00:03:55,360 Speaker 2: the Year acceptance speech with a very clear condemnation of ICE, 73 00:03:55,360 --> 00:03:59,120 Speaker 2: while other artists, including Olivia Dean and Bad Bunny use 74 00:03:59,200 --> 00:04:02,080 Speaker 2: their awards on stage to highlight the contributions of immigrants 75 00:04:02,200 --> 00:04:06,720 Speaker 2: and to condemn the Trump administration's crackdown. Protests have intensified 76 00:04:06,720 --> 00:04:09,400 Speaker 2: in the States following the fatal shooting of nurse alex 77 00:04:09,440 --> 00:04:13,280 Speaker 2: Pretty by federal agents in Minneapolis, and for those following 78 00:04:13,360 --> 00:04:15,920 Speaker 2: the Grammy Awards themselves. Bad Bunny took out the biggest 79 00:04:15,920 --> 00:04:18,720 Speaker 2: award of the night, the Puerto Rican Artists winning Album 80 00:04:18,880 --> 00:04:23,479 Speaker 2: of the Year, the first all Spanish language album to 81 00:04:23,560 --> 00:04:26,799 Speaker 2: win the Grammy. And that's it the Afternoon Report for Monday, 82 00:04:26,880 --> 00:04:29,240 Speaker 2: the second of February twenty twenty six. Make sure you're 83 00:04:29,240 --> 00:04:31,760 Speaker 2: following the podcast, and please head along to Fear and 84 00:04:31,800 --> 00:04:33,800 Speaker 2: Greed dot com dot au to sign up for our 85 00:04:33,839 --> 00:04:35,000 Speaker 2: free daily newsletter. 86 00:04:35,200 --> 00:04:36,080 Speaker 1: I'm Michael Thompson. 87 00:04:36,320 --> 00:04:37,039 Speaker 2: Enjoy your evening.