1 00:00:04,160 --> 00:00:07,000 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,040 --> 00:00:09,640 Speaker 1: for Monday, the tenth of November twenty twenty five. Are 3 00:00:09,680 --> 00:00:12,440 Speaker 1: Michael Thompson, and every afternoon we bring you the five 4 00:00:12,680 --> 00:00:15,280 Speaker 1: big stories that happened today that you need to know about. 5 00:00:15,640 --> 00:00:17,680 Speaker 1: Let's go with story number one. The S and PA 6 00:00:17,720 --> 00:00:20,480 Speaker 1: s X two hundred climbed zero point eight percent today 7 00:00:20,680 --> 00:00:24,400 Speaker 1: to eight hundred and thirty six points, fueled by optimism 8 00:00:24,440 --> 00:00:27,440 Speaker 1: that an end to the US government shutdown is just 9 00:00:27,520 --> 00:00:29,320 Speaker 1: around the corner. We'll have more on that one a 10 00:00:29,320 --> 00:00:32,000 Speaker 1: little later on. Nine of the eleven sectors on the 11 00:00:32,000 --> 00:00:34,760 Speaker 1: local burse ended the day higher. We'll start with the 12 00:00:34,840 --> 00:00:38,560 Speaker 1: tech stocks which were the best wise. Tech Global was 13 00:00:38,640 --> 00:00:41,279 Speaker 1: up six point two percent. The monitoring app Life three 14 00:00:41,400 --> 00:00:43,760 Speaker 1: sixty was up three point six percent. A good day 15 00:00:43,800 --> 00:00:47,400 Speaker 1: for the miners, iron ore, uranium, critical minerals companies all 16 00:00:47,440 --> 00:00:50,400 Speaker 1: did well. Renewed hopes of an interest rate cut in 17 00:00:50,479 --> 00:00:54,080 Speaker 1: December in the US helped the gold price climb, which 18 00:00:54,120 --> 00:00:57,400 Speaker 1: then flowed through to the local gold miners. Evolution, Perseus 19 00:00:57,440 --> 00:00:59,280 Speaker 1: and Northern Star were all up between three and a 20 00:00:59,280 --> 00:01:03,280 Speaker 1: half the three point nine percent. The banks are worth 21 00:01:03,360 --> 00:01:06,840 Speaker 1: a mention on their own a mixed day really for 22 00:01:06,920 --> 00:01:10,240 Speaker 1: the financials, but A and Z soared three point two 23 00:01:10,319 --> 00:01:13,600 Speaker 1: percent despite reporting a drop in cash profit and coming 24 00:01:13,600 --> 00:01:18,039 Speaker 1: in under forecasts. It also emerged former leaders at the 25 00:01:18,040 --> 00:01:20,960 Speaker 1: bank would be docked millions of dollars in bonuses over 26 00:01:21,000 --> 00:01:23,119 Speaker 1: governance issues. We'll have a lot more on that one 27 00:01:23,120 --> 00:01:26,080 Speaker 1: in tomorrow morning show. As for the other banks, Westpac 28 00:01:26,200 --> 00:01:29,040 Speaker 1: climbed one point four percent, but both Commonwealth Bank and 29 00:01:29,160 --> 00:01:33,479 Speaker 1: NAB lost Brown today story number two in a really 30 00:01:33,520 --> 00:01:36,120 Speaker 1: a sure sign that the cost of living crisis has 31 00:01:36,160 --> 00:01:40,240 Speaker 1: not gone away. McDonald's has singled out Australia as one 32 00:01:40,280 --> 00:01:44,160 Speaker 1: of the best performing markets for its new mcwings products 33 00:01:44,200 --> 00:01:48,320 Speaker 1: because diners are shifting from beef to cheaper chicken. The 34 00:01:48,480 --> 00:01:52,800 Speaker 1: global CEO of McDonald's, Chris Kempsinski, said that Australians have 35 00:01:52,880 --> 00:01:57,280 Speaker 1: embraced value meals such as the Mcsmart and Loose Change menus, 36 00:01:57,440 --> 00:02:00,720 Speaker 1: which were price locked for twelve months. The bmook Wings 37 00:02:01,160 --> 00:02:04,400 Speaker 1: range proved so successful that it's now a permanent menu item, 38 00:02:04,440 --> 00:02:08,200 Speaker 1: with McDonald's planning to expand its global chicken offerings. Chicken's 39 00:02:08,360 --> 00:02:11,440 Speaker 1: lower costs has made it increasingly important for fast food 40 00:02:11,480 --> 00:02:17,360 Speaker 1: operators battling higher beef prices, higher rents and higher wages. Australians, interestingly, 41 00:02:17,360 --> 00:02:21,040 Speaker 1: are among the world's biggest chicken eaters. We consume about 42 00:02:21,160 --> 00:02:26,359 Speaker 1: fifty four kilograms per person each year. Storing number three. 43 00:02:26,480 --> 00:02:29,880 Speaker 1: Former South Australian Premier Jay Weatherall has scored one of 44 00:02:29,919 --> 00:02:33,440 Speaker 1: the plum diplomatic gigs for ex Polys, becoming the next 45 00:02:34,080 --> 00:02:38,200 Speaker 1: High Commissioner to London representing Australia, and he's going to 46 00:02:38,240 --> 00:02:41,840 Speaker 1: be replacing former Defense Minister Stephen Smith. Prime Minister Anthony 47 00:02:41,840 --> 00:02:46,040 Speaker 1: Albanesi said Weatherill's experience in defense industry development would be 48 00:02:46,160 --> 00:02:49,960 Speaker 1: key to advancing the Orchest Pact, noting his role that 49 00:02:50,040 --> 00:02:54,240 Speaker 1: he played in securing submarine construction for South Australia. Weatherall 50 00:02:54,320 --> 00:02:57,720 Speaker 1: served as Premier from twenty eleven to twenty eighteen and 51 00:02:57,880 --> 00:03:02,280 Speaker 1: is regarded as one of Labour's experienced state leaders. Onto 52 00:03:02,280 --> 00:03:05,680 Speaker 1: story number four now and the Federal government's National Reconstruction 53 00:03:05,840 --> 00:03:09,800 Speaker 1: Fund has joined Amazon founder Jeff Bezos and Microsoft's Bill 54 00:03:09,880 --> 00:03:14,360 Speaker 1: Gates in backing brain chip pioneer Syncron. The NRF is 55 00:03:14,400 --> 00:03:16,840 Speaker 1: taking a fifty four million dollar steak in the New 56 00:03:16,919 --> 00:03:18,920 Speaker 1: York based company as part of a three hundred million 57 00:03:18,960 --> 00:03:23,280 Speaker 1: dollar fundraising round led by Australian neurologist Dr Tom Oxley, 58 00:03:23,320 --> 00:03:26,240 Speaker 1: who plans to run trials in Melbourne. This is a 59 00:03:26,320 --> 00:03:31,120 Speaker 1: really interesting enterprise. The goal is to allow paralyzed people 60 00:03:31,160 --> 00:03:35,960 Speaker 1: to control computers with their thoughts. Other investors include Bezos's 61 00:03:36,040 --> 00:03:40,800 Speaker 1: personal investment firm, the Katar government, the CIA backed IQT 62 00:03:41,400 --> 00:03:45,440 Speaker 1: and biotech investor Double Point Ventures. And finally story number five. 63 00:03:45,480 --> 00:03:48,120 Speaker 1: I mentioned this one earlier. The US government is inching 64 00:03:48,200 --> 00:03:51,480 Speaker 1: closer to reopening after the moderate Democrats in the Senate 65 00:03:51,600 --> 00:03:54,800 Speaker 1: broke ranks to support the progression of a funding deal. 66 00:03:55,160 --> 00:03:58,720 Speaker 1: The measure, pasted sixty forty, still needs to be fully 67 00:03:58,760 --> 00:04:02,480 Speaker 1: passed by the Senate, then Congress, then signed by the President, 68 00:04:02,640 --> 00:04:05,960 Speaker 1: but it would fund key departments through the end of January, 69 00:04:06,000 --> 00:04:10,760 Speaker 1: while paying furloughed workers and resuming federal payments including food stamps. 70 00:04:10,960 --> 00:04:13,600 Speaker 1: And it was actually that final part that motivated some 71 00:04:13,720 --> 00:04:17,360 Speaker 1: Democrats to break ranks. They described it basically as a 72 00:04:17,400 --> 00:04:21,440 Speaker 1: true crisis. President Donald Trump welcomed the progress, saying it 73 00:04:21,480 --> 00:04:24,200 Speaker 1: looks like we're getting closer to the shutdown ending. The 74 00:04:24,360 --> 00:04:27,719 Speaker 1: forty day standoff is the longest in US history and 75 00:04:27,800 --> 00:04:32,160 Speaker 1: it has cost the economy and estimated eighteen billion dollars 76 00:04:32,200 --> 00:04:35,000 Speaker 1: so far. That's it for the afternoon report for Monday, 77 00:04:35,040 --> 00:04:37,240 Speaker 1: the tenth of November. Make sure you hit follow on 78 00:04:37,279 --> 00:04:40,279 Speaker 1: the podcast and visit Fear and Greed dot com dot 79 00:04:40,320 --> 00:04:42,600 Speaker 1: au to sign up for our free daily newsletter. There's 80 00:04:42,600 --> 00:04:45,279 Speaker 1: a link as well. In today's show notes, I'm Michael Thompson. 81 00:04:45,520 --> 00:04:46,240 Speaker 1: Enjoy your evening.