1 00:00:03,680 --> 00:00:06,360 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,360 --> 00:00:09,040 Speaker 1: for Thursday the seventheenth for April twenty twenty five. I'm 3 00:00:09,039 --> 00:00:11,880 Speaker 1: Sean Almer. Every afternoon, we've got the five stories that 4 00:00:12,000 --> 00:00:14,360 Speaker 1: happened today that you need to know about. Staring number one, 5 00:00:14,400 --> 00:00:17,880 Speaker 1: the labor market rebounded strongly last month, but economists still 6 00:00:17,880 --> 00:00:20,119 Speaker 1: believe the Reserve Bank will cut interest rates when it 7 00:00:20,200 --> 00:00:23,800 Speaker 1: meets in May. Around thirty two thousand people found work 8 00:00:24,200 --> 00:00:27,840 Speaker 1: in March, slightly fewer than expected, and the unemployment rates 9 00:00:27,840 --> 00:00:30,880 Speaker 1: stayed at four point one percent. It followed a surprising 10 00:00:30,960 --> 00:00:34,960 Speaker 1: drop off fifty three thousand jobs in February. The result 11 00:00:35,000 --> 00:00:38,519 Speaker 1: today helped boy the local market, with the SMPASX two 12 00:00:38,600 --> 00:00:42,720 Speaker 1: hundred closing up just under one percent to eight hundred 13 00:00:42,720 --> 00:00:45,280 Speaker 1: and nineteen points. That was pretty much on the back 14 00:00:45,479 --> 00:00:48,440 Speaker 1: of a big jump in energy stocks. Straight number two, 15 00:00:48,520 --> 00:00:50,600 Speaker 1: there's a bit of corporate news around today. The corporate 16 00:00:50,640 --> 00:00:53,680 Speaker 1: Regulator will push her head with a formal investigation of 17 00:00:53,760 --> 00:00:56,880 Speaker 1: wisteach globals market disclosures. Up until now it's been a 18 00:00:56,920 --> 00:01:00,400 Speaker 1: preliminary investigation, and BHP said it shipped a week then 19 00:01:00,400 --> 00:01:03,240 Speaker 1: expected volume of Australian iron ore. Over the past three months, 20 00:01:03,240 --> 00:01:06,600 Speaker 1: sales of Australian iron Or were four percent lower than 21 00:01:06,640 --> 00:01:09,600 Speaker 1: the same period last year. Story number five. There's some 22 00:01:09,640 --> 00:01:12,360 Speaker 1: good news for a couple of wealth managers today. Annuities 23 00:01:12,360 --> 00:01:15,560 Speaker 1: in wealth management group Challenger rallied ten percent after it 24 00:01:15,720 --> 00:01:20,200 Speaker 1: narrowed its fiscal year twenty five normalized net profit guidance 25 00:01:20,760 --> 00:01:23,840 Speaker 1: obviously came in higher than what analysts expected, and to 26 00:01:23,880 --> 00:01:27,400 Speaker 1: AMP also ended higher after its platform as Business recorded 27 00:01:27,440 --> 00:01:30,520 Speaker 1: an increase in net cash flows. Story number four. Opposition 28 00:01:30,560 --> 00:01:34,760 Speaker 1: leader Peter Dutton's aspirational pledge to index personal income tax 29 00:01:34,800 --> 00:01:38,000 Speaker 1: brackets in the future has headlined the political debate today. 30 00:01:38,240 --> 00:01:41,080 Speaker 1: In an interview with The Australian, Dutton said heid index 31 00:01:41,120 --> 00:01:44,960 Speaker 1: personal tax in the future when the budget was healthy enough. 32 00:01:45,200 --> 00:01:47,840 Speaker 1: His comments through the attention of Treasury Jim Chalmers. He 33 00:01:47,920 --> 00:01:51,120 Speaker 1: said the idea should have Dunton laughed off the stage. 34 00:01:51,400 --> 00:01:54,040 Speaker 1: During his own press conference this afternoon, the Opposition leader 35 00:01:54,080 --> 00:01:58,000 Speaker 1: was asked whether he could anticipate the budget being able 36 00:01:58,000 --> 00:02:01,280 Speaker 1: to afford the change. Mister Dutton did provided any details, 37 00:02:01,400 --> 00:02:03,840 Speaker 1: instead taking a jab at the Prime Minister. According to 38 00:02:03,880 --> 00:02:06,280 Speaker 1: The City Morning Herald, he said, first of all, if 39 00:02:06,320 --> 00:02:08,800 Speaker 1: I fell off the stage. I wouldn't lie about it now. 40 00:02:08,880 --> 00:02:11,440 Speaker 1: He was referring to Albanezi slipping off a stage earlier 41 00:02:11,440 --> 00:02:14,920 Speaker 1: in the campaign that saying he hadn't fallen dune, and 42 00:02:14,960 --> 00:02:17,639 Speaker 1: then went on to discuss the benefits Australians would receive 43 00:02:18,000 --> 00:02:21,040 Speaker 1: from his plan to cut the fuel excise and finally 44 00:02:21,120 --> 00:02:24,639 Speaker 1: story number five, Donald Trump's tariffs are likely to put 45 00:02:24,680 --> 00:02:27,800 Speaker 1: at risk the Federal Reserves goals of keeping prices and 46 00:02:27,919 --> 00:02:32,200 Speaker 1: unemployment in check, j Powell warned as he emphasized the 47 00:02:32,320 --> 00:02:35,480 Speaker 1: US Central Bank's focus on inflation. Overnight, the FED chief 48 00:02:35,560 --> 00:02:39,920 Speaker 1: said the Trump administration is implementing significant policy changes, and 49 00:02:39,960 --> 00:02:42,560 Speaker 1: particularly trade is now the focus. The effects of that 50 00:02:42,919 --> 00:02:45,440 Speaker 1: are likely to move us away from our goals, according 51 00:02:45,440 --> 00:02:48,239 Speaker 1: to The Financial Times. Pale also said the president's tariffs 52 00:02:48,280 --> 00:02:51,480 Speaker 1: and out so far have been significantly larger than anticipated, 53 00:02:51,800 --> 00:02:54,480 Speaker 1: adding that the same was likely to be true of 54 00:02:54,520 --> 00:02:58,200 Speaker 1: the economic effects, which will include higher inflation in slower growth. 55 00:02:58,440 --> 00:03:01,240 Speaker 1: US stocks extended a cell that began earlier in the 56 00:03:01,320 --> 00:03:04,040 Speaker 1: day as the Fed chair spoke, The SP five hundred 57 00:03:04,120 --> 00:03:06,400 Speaker 1: ended the day down more than two percent. It was 58 00:03:06,440 --> 00:03:08,680 Speaker 1: some of the strongest commentary yet from the FED chair 59 00:03:09,040 --> 00:03:12,520 Speaker 1: on the Trump administration's economic policies. That's it for the 60 00:03:12,520 --> 00:03:15,760 Speaker 1: Afternoon Report for Thursday, the seventeenth of April twenty twenty five. 61 00:03:15,800 --> 00:03:17,919 Speaker 1: Make sure you hit follow on the podcast. We will 62 00:03:17,960 --> 00:03:20,000 Speaker 1: be back tomorrow morning with a good Friday edition of 63 00:03:20,080 --> 00:03:23,360 Speaker 1: Fear and Greed business News. I'm Sean Almer. Enjoy your evening.