1 00:00:03,520 --> 00:00:06,480 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,519 --> 00:00:09,879 Speaker 1: for Thursday, the twenty sixth of February twenty twenty six, 3 00:00:09,960 --> 00:00:12,200 Speaker 1: Oh Michael Thompson, and every afternoon, we've got the five 4 00:00:12,240 --> 00:00:14,160 Speaker 1: stories that happened today that you need to know about. 5 00:00:14,520 --> 00:00:16,439 Speaker 1: Let's go with story number one. The S and PA 6 00:00:16,600 --> 00:00:19,959 Speaker 1: SEX two hundred climbed zero point five percent today to 7 00:00:20,040 --> 00:00:23,720 Speaker 1: a fresh record of nine thousand, one hundred and seventy 8 00:00:23,760 --> 00:00:27,240 Speaker 1: five points. It also hid an intra day record as well, 9 00:00:27,280 --> 00:00:31,240 Speaker 1: passing the nine thousand, two hundred point mark. So Far 10 00:00:31,400 --> 00:00:34,040 Speaker 1: this month, the index is up about three and a 11 00:00:34,040 --> 00:00:36,520 Speaker 1: half percent. It's on track for its best month since 12 00:00:36,600 --> 00:00:39,080 Speaker 1: April of last year. A lot of it today was 13 00:00:39,159 --> 00:00:42,159 Speaker 1: due to improving sentiment around the tech stocks and the 14 00:00:42,159 --> 00:00:46,280 Speaker 1: outlook for the AI boom after Nvidio published some very 15 00:00:46,440 --> 00:00:49,240 Speaker 1: strong numbers earlier this morning. A bit more on that later, 16 00:00:49,560 --> 00:00:52,440 Speaker 1: but the impact on the local textocks, you've got to say, 17 00:00:52,560 --> 00:00:56,080 Speaker 1: was pretty much profound. Zero jumped eight point six percent, 18 00:00:56,320 --> 00:01:01,280 Speaker 1: Megaport was up twelve point six percent, technologe one gained 19 00:01:01,400 --> 00:01:04,319 Speaker 1: more than six percent, of Wistech Global close two point 20 00:01:04,319 --> 00:01:07,679 Speaker 1: six percent higher. A good day too for the big 21 00:01:07,720 --> 00:01:10,680 Speaker 1: miners BHP was up two point two percent. The Big 22 00:01:10,680 --> 00:01:13,360 Speaker 1: Australians had a cracker of a week. Really, it's up 23 00:01:13,400 --> 00:01:17,200 Speaker 1: more than eight percent so far, and Rio Tinto climbed 24 00:01:17,360 --> 00:01:21,160 Speaker 1: three point seven percent today. Healthcare stocks went well, a 25 00:01:21,280 --> 00:01:24,840 Speaker 1: Promedicus was up ten percent, and a few companies reporting 26 00:01:24,880 --> 00:01:26,880 Speaker 1: results in that space, which I'll get to in a moment. 27 00:01:27,200 --> 00:01:29,880 Speaker 1: At the other end of the market, Quantus tumbled more 28 00:01:29,920 --> 00:01:34,800 Speaker 1: than nine percent today on concerns about international demand despite 29 00:01:34,800 --> 00:01:38,399 Speaker 1: a good profit number, and Blue Scope Steel fell more 30 00:01:38,440 --> 00:01:43,000 Speaker 1: than two percent after rejecting another takeover approach from SGH 31 00:01:43,240 --> 00:01:47,120 Speaker 1: and Steel Dynamics. I'm just story number two now. And 32 00:01:47,200 --> 00:01:51,160 Speaker 1: Reserve Bank Governor Michelle Bullock says inflation is quote not 33 00:01:51,400 --> 00:01:55,440 Speaker 1: taking off again, but remains a little bit elevated, and 34 00:01:55,480 --> 00:01:58,400 Speaker 1: she's worn that it's unclear whether interest rates should rise 35 00:01:58,560 --> 00:02:02,160 Speaker 1: or fall as the economy recovers. She was speaking at 36 00:02:02,320 --> 00:02:06,760 Speaker 1: Melbourne University last night in a very wide ranging fireside chat. 37 00:02:07,240 --> 00:02:10,720 Speaker 1: Learned a lot about the way the Reserve Bank is 38 00:02:10,840 --> 00:02:15,040 Speaker 1: operating and what the board is thinking. Michelle Bullock said 39 00:02:15,040 --> 00:02:18,120 Speaker 1: that the economy was quite close to balance, maybe a 40 00:02:18,160 --> 00:02:20,799 Speaker 1: little bit tight, with employment at four point one percent 41 00:02:20,840 --> 00:02:24,440 Speaker 1: and underlying inflation edging up to three point four percent 42 00:02:24,560 --> 00:02:28,160 Speaker 1: in January. She said monetary policy decisions are now more 43 00:02:28,280 --> 00:02:31,799 Speaker 1: finely balanced than during the post COVID surgeon inflation when 44 00:02:31,840 --> 00:02:34,400 Speaker 1: it was clear that rates needed to rise. She said 45 00:02:34,520 --> 00:02:37,400 Speaker 1: the judgments are a little bit more difficult, which I 46 00:02:37,400 --> 00:02:40,440 Speaker 1: suspect is probably a bit of an understatement. She's calling 47 00:02:40,480 --> 00:02:43,120 Speaker 1: for patients as the board weighs the risks to price 48 00:02:43,160 --> 00:02:47,040 Speaker 1: stability and the labor market. Billok rejected suggestions that the 49 00:02:47,160 --> 00:02:50,880 Speaker 1: RBA was backwards looking, saying that data is being used 50 00:02:50,880 --> 00:02:54,280 Speaker 1: to cast forward rather than react to single readings. She 51 00:02:54,400 --> 00:02:58,360 Speaker 1: also stressed the need for clearer communication and greater diversity 52 00:02:58,400 --> 00:03:00,440 Speaker 1: in economics, saying the bank did not want to be 53 00:03:00,440 --> 00:03:03,120 Speaker 1: seen as operating in a bubble. I told you a 54 00:03:03,280 --> 00:03:07,919 Speaker 1: very wide ranging conversation story. Number three dependents of Australian 55 00:03:08,000 --> 00:03:11,720 Speaker 1: officials posted in Israel and Lebanon have been directed to 56 00:03:11,880 --> 00:03:15,480 Speaker 1: leave as tensions escalate across the Middle East ahead of 57 00:03:15,520 --> 00:03:20,000 Speaker 1: talks in Geneva over Iran's nuclear program. Smart Traveler says 58 00:03:20,040 --> 00:03:23,800 Speaker 1: the move is a precaution in response to the deteriorating 59 00:03:23,840 --> 00:03:28,400 Speaker 1: security situation. Australia's embass embassies rather in Tel Aviv and 60 00:03:28,400 --> 00:03:33,359 Speaker 1: Beirut remain open, with travel advice set at reconsider your 61 00:03:33,400 --> 00:03:36,840 Speaker 1: need to travel. Advice for Iran remains do not travel. 62 00:03:37,320 --> 00:03:42,040 Speaker 1: The governments also extended voluntary departments departures rather to dependence 63 00:03:42,240 --> 00:03:46,160 Speaker 1: of officials in Jordan, Qatar and the United Arab Emirates. 64 00:03:46,640 --> 00:03:50,520 Speaker 1: Similar measures were taken during previous regional flare ups. The 65 00:03:50,600 --> 00:03:54,240 Speaker 1: developments come as the United States increases its military presence 66 00:03:54,480 --> 00:03:58,640 Speaker 1: in the region and diplomatic efforts intensify. All eyes are 67 00:03:58,680 --> 00:04:02,560 Speaker 1: on those talks now in Jene story number four. A 68 00:04:02,600 --> 00:04:06,400 Speaker 1: lot of results around Today. Sigma Healthcare reported a twenty 69 00:04:06,480 --> 00:04:09,560 Speaker 1: three percent jump in net profit and said sales at 70 00:04:09,600 --> 00:04:13,520 Speaker 1: its Chemist Warehouse stores climbed nearly seventeen percent in the 71 00:04:13,560 --> 00:04:16,480 Speaker 1: first seven weeks of twenty twenty six. Not a bad result. 72 00:04:16,960 --> 00:04:19,560 Speaker 1: At super Retail Group with j Oones, Rebel Sport and 73 00:04:19,640 --> 00:04:22,440 Speaker 1: super Cheap Aorto, I'm supposed to rise in sales, but 74 00:04:22,480 --> 00:04:25,360 Speaker 1: profits actually fell twenty percent in the first half of 75 00:04:25,400 --> 00:04:28,559 Speaker 1: the financial year due to more discounting. Its share price 76 00:04:28,640 --> 00:04:31,880 Speaker 1: climbed eight percent. Today. Clean Away the waste management Group 77 00:04:32,000 --> 00:04:34,760 Speaker 1: reported a near fifty percent drop in net profit, but 78 00:04:34,839 --> 00:04:37,120 Speaker 1: upgraded guidance for the rest of the financial year. Its 79 00:04:37,120 --> 00:04:41,480 Speaker 1: share price climbed seven and a half percent. Today. IDP Education, 80 00:04:41,520 --> 00:04:46,880 Speaker 1: which is Australia's largest listed provider of international education, well 81 00:04:46,920 --> 00:04:50,520 Speaker 1: it announced ay sixty five percent slump in full year profit, 82 00:04:50,880 --> 00:04:53,640 Speaker 1: but it increased its full year earnings forecast at share 83 00:04:53,640 --> 00:04:57,039 Speaker 1: price rose seven and a half percent. Ramsey Healthcare I 84 00:04:57,040 --> 00:04:59,160 Speaker 1: told you there was a lot of results. Ramsey Healthcare 85 00:04:59,279 --> 00:05:01,880 Speaker 1: recovered from a lost twelve months ago to a first 86 00:05:01,920 --> 00:05:04,280 Speaker 1: half profit of one hundred and sixty one million dollars. 87 00:05:04,560 --> 00:05:09,080 Speaker 1: That's on improved hospital performances in Australia. Its share price 88 00:05:09,200 --> 00:05:13,479 Speaker 1: jumped ten percent, while mining services company Walley share price 89 00:05:13,560 --> 00:05:17,000 Speaker 1: dropped ten percent after reporting a thirty percent drop in 90 00:05:17,080 --> 00:05:19,560 Speaker 1: net profit for the first half. Some big moves today, 91 00:05:20,279 --> 00:05:24,760 Speaker 1: and finally, story number five chip maker and Video has 92 00:05:24,800 --> 00:05:29,479 Speaker 1: reported a quarterly profit of forty three billion US dollars, 93 00:05:29,520 --> 00:05:33,920 Speaker 1: beating market expectations and lifting its annual profit to one 94 00:05:34,040 --> 00:05:37,160 Speaker 1: hundred and twenty billion US dollars. The company, which is 95 00:05:37,200 --> 00:05:39,920 Speaker 1: obviously at the center, the very center of the AI boom, 96 00:05:40,240 --> 00:05:43,960 Speaker 1: controls about ninety percent of the high end AI chip market. 97 00:05:44,720 --> 00:05:48,159 Speaker 1: Just listen to some of these numbers right. Revenue in 98 00:05:48,240 --> 00:05:53,360 Speaker 1: the quarter jumped to almost sixty two billion US dollars, 99 00:05:53,440 --> 00:05:57,880 Speaker 1: and the company forecast current quarter revenue of seventy eight 100 00:05:58,279 --> 00:06:02,120 Speaker 1: billion US dollars, up seventy seven percent from a year 101 00:06:02,440 --> 00:06:06,120 Speaker 1: earlier and ahead of Wall Street estimates of seventy two 102 00:06:06,200 --> 00:06:10,760 Speaker 1: billion US dollars. The results have helped to ease some 103 00:06:10,880 --> 00:06:15,719 Speaker 1: of these concerns about the sustainability of the AI investment boom, 104 00:06:16,040 --> 00:06:20,840 Speaker 1: reassuring investors about demand. Clearly very strong demand for artificial 105 00:06:20,839 --> 00:06:24,919 Speaker 1: intelligence chips. And that's it for the afternoon Report for Thursday, 106 00:06:25,000 --> 00:06:27,599 Speaker 1: the twenty sixth of February. Make sure you're following the podcast, 107 00:06:27,680 --> 00:06:29,719 Speaker 1: and please head along to Fear and Greed dot com 108 00:06:29,760 --> 00:06:32,160 Speaker 1: dot au to sign up for our free daily newsletter. 109 00:06:32,279 --> 00:06:34,120 Speaker 1: I'm Michael Thompson. Enjoy your evening.