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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Thursday, the fourth of July twenty twenty four. I'm

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Speaker 1: Sean Almer. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Story number one.

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Speaker 1: The S and PASX two hundred rows one point two

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Speaker 1: percent today, or ninety two points to seven eight hundred

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Speaker 1: and thirty three points, its highest level since June twenty five.

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Speaker 1: The miners were the stars of the show, with the

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Speaker 1: Materials index up more than two percent. Interest rate sensitive

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Speaker 1: sectors like the property and financial companies, also did well.

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Speaker 1: There were some big movers among the large caps. BHP

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Speaker 1: and four to s Q both jumped around three percent,

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Speaker 1: while Ria Tinta was up two point six percent. Come

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Speaker 1: Off Bank let the banks higher, jumping two percent, while

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Speaker 1: Goodman Group rose two point one percent. The gold miners

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Speaker 1: also did well as the price of the precious metal rose.

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Speaker 1: Not so good was y Set Global. It fell nearly

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Speaker 1: one percent. In fact, it was the only top twenty

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Speaker 1: stock to go backwards today. Also, the coal companies pulled

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Speaker 1: back somewhat. They've had a good few days, a little

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Speaker 1: bit of profit taking going on. Story number two first

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Speaker 1: term Senator Fatima Payman has quit the Labor Party and

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Speaker 1: will sit on the Senate cross bench, meaning Labor will

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Speaker 1: be left with twenty five senators and will need fourteen

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Speaker 1: further votes to pass legislation. After crossing the floor in

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Speaker 1: a Green's motion recognizing Palestinian statehood last week, the Western

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Speaker 1: Australian senator had been suspended from Labour caucus meetings and

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Speaker 1: held talks with Prime Minister Anthony Alberanizi over recent days.

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Speaker 1: Senator Payman's move means she will join three other defectors

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Speaker 1: on the Senate cross bench. That's Lydia Thorpe, Tammy Tyrell

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Speaker 1: and David Van. It's been a turbulent few days for

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Speaker 1: everyone involved. Senator Payman, after formally quitting, said she'd been

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Speaker 1: intimidated on many fronts by Labor colleagues and people outside politics.

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Speaker 1: Payment said she faced stand up tactics and death threats

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Speaker 1: over her decision to cross the floor. Her conversations with

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Speaker 1: the Prime Minister were stern but fair, she said. Fatima

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Speaker 1: Payment said debate around the war between Israel and Hamas

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Speaker 1: had left her no choice quit The ALP story number three,

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Speaker 1: The Australian Competition and Consumer Commission has given lend Lease

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Speaker 1: in Stockland a two month deadline to cut one third

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Speaker 1: of the assets out of their agreed one point three

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Speaker 1: billion dollar Master Planned Community sale. Or maybe they can

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Speaker 1: try and convince the competition watchdog that its concerns are unfounded.

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Speaker 1: According to report in the Financial Review, the hill CE

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Speaker 1: yesterday delayed a final decision on Lenlease's one point three

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Speaker 1: billion dollar housing portfolio of sale to mid September, saying

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Speaker 1: the proposed transaction could lessen competition in four regional residential markets.

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Speaker 1: The HBLEC is concerned the dealer would remove one of

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Speaker 1: Stockland's closest and largest competitors in the Illawarra in New

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Speaker 1: South Wales, Northwest perth Ipswich and Morton Bayne, Queensland. Story

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Speaker 1: number four Wall Street keeps going, and going and going.

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Speaker 1: This morning, the S and P five hundred closed at

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Speaker 1: another record high, as did the tech heavy Nasdaq, helping

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Speaker 1: equities with data suggesting a cooling of the US labor

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Speaker 1: market and the release of the Federals the Board minutes,

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Speaker 1: which were considered less hawkish than the previous month. In

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Speaker 1: commodity markets, oils trading just under eighty seven US dollars

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Speaker 1: a barrel, goals back above twenty three to fifty US

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Speaker 1: dollars an ounce. Bitcoins dropped somewhat. It's fetching less than

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Speaker 1: fifty nine thousand US dollars a unit, and the news

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Speaker 1: out of the US pushed the Aussie dollar back above

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Speaker 1: sixty seven US since and story number five an update

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Speaker 1: on Hurricane Beryl in the Caribbean. It's the earliest hurricane

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Speaker 1: on record to develop into a Category five storm. The

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Speaker 1: hurricane has already hit Grenada, Saint Vincent, and Jamaica, and

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Speaker 1: overnight it was expected to cross the Cayman Islands. Mexican

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Speaker 1: authorities have issued a hurricane warning for parts of its

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Speaker 1: east coast. Some weakening is forecast during the next couple

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Speaker 1: of days. That's hope SAM. The US National Aceanic and

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Speaker 1: Atmospheric Administration has forecasts between eight and thirteen hurricanes this season,

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Speaker 1: which runs from August to November, though this hurricane has

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Speaker 1: obviously come early. That's it for the afternoon report for Thursday,

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Speaker 1: the fourth of July twenty twenty four. Don't forget to

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Speaker 1: hit follow on the podcast and Fear and Greed on

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Speaker 1: LinkedIn Instagram. X TikTok and Facebook. Join Michael Thompson and

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Speaker 1: I Tomorrow'm morning for the Fast Five by Fear and Greed,

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Speaker 1: the top five business stories you need to know in

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Speaker 1: just five minutes. I'm Seane Elma Enjoy your evening,