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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 twenty second of May twenty twenty five.

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Speaker 1: I'm sure in Alma every afternoon we've got the five

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Speaker 1: stories that have happened today that you need to know about.

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Speaker 1: Storing number one, the SMPASX two hundred. It's a little

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Speaker 1: bit of a breather today, ending down half percent to

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Speaker 1: eight thousand, three hundred and forty nine points. Tech stocks

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Speaker 1: did best, while energy companies weren't far behind. Some of

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Speaker 1: the individual best stocks were the gold miners. In terms

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Speaker 1: of the large caps, the bank's locks ground, with Commonwealth

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Speaker 1: Bank down one percent, Where's Farmers also dropped one percent,

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Speaker 1: while we Quarry was off two percent. The big miners

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Speaker 1: were mixed, while the big supermarkets trended lower. Among the

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Speaker 1: tech stocks, Wise Tech Global, Promedicus, and to a lesser extent,

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Speaker 1: zero All Film Storry number two. There's plenty going on

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Speaker 1: in international markets. On Wall Street overnight, the S and

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Speaker 1: P five hundred tumbled more than one and a half

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Speaker 1: percent after a sale of US government bonds Disappointed Now.

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Speaker 1: The soft demand came after Moody's downgraded US sovereign debt

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Speaker 1: last week. That suggested that there are a few jitters

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Speaker 1: in the market and that hit equities. It did help

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Speaker 1: gold prices, though, with precious metal pushing back to about

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Speaker 1: three thousand, three hundred and twenty five US dollars and announced

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Speaker 1: goals up about four percent. This week, the Aussie dollar

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Speaker 1: is sitting around sixty four and a half US cents

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Speaker 1: Bitcoin those going pretty well. It touched an all time

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Speaker 1: high overnight of one hundred and nine eight hundred and

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Speaker 1: fifty six US dollars before falling back somewhat. The previous

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Speaker 1: high was around the time Donald Trump was inaugurated on

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Speaker 1: twenty January. Story number three. The Albanezi government is considering

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Speaker 1: progressively luring the thirty three percent luxury car tax as

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Speaker 1: part of its free trade negotiations with the European Union,

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Speaker 1: rather than cutting it in one hit. The plan comes

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Speaker 1: amid representations from car dealers and automobile manufacturers who want

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Speaker 1: the tax abolished without sparking a rapid collapse in luxury

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Speaker 1: car resale values. According to The Australian, the talks with

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Speaker 1: Trade Minister Don Farrell's office follow anecdotal reports of a

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Speaker 1: buyer strike by those considering purchasing vehicles that attract the tax.

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Speaker 1: For example, the tax adds more than eleven thousand dollars

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Speaker 1: to the price of new Toyota land Cruiser. At the

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Speaker 1: same time, new quarterly figures revealed sales of electric vehicles

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Speaker 1: fell to their lowest levels in two years, amid a

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Speaker 1: decline in overall vehicle sales and a sharp increase in

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Speaker 1: sales of conventional and plug in hybrids. Straight number four

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Speaker 1: in corporate news, Rio Tinto is conducting early works and

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Speaker 1: final studies to potentially almost double book site production from

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Speaker 1: its am Run project in far North Queensland. Nov Onyx

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Speaker 1: rose after the US Commerce Department made a preliminary decision

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Speaker 1: to impose duties on graphite exports from China. That's good

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Speaker 1: news for the Australian based battery material manufacturer. IAG increased

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Speaker 1: after securing approval for a takeover bid for RACQ Insurance.

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Speaker 1: Main Farmer fell further following yesterday's thirty percent drop after

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Speaker 1: the AX queried Wyatt's receipt of a letter from US

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Speaker 1: regulators did not require market disclosure, and m Financial Group

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Speaker 1: says it's buying real estate manager IP Generation nine million dollars. Finally,

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Speaker 1: Story number five the US Pentagon has formally accepted a

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Speaker 1: four hundred million US dollar luxury jumbo jet gifted by

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Speaker 1: Katar that we used as the US President's plane, despite

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Speaker 1: by partisan concerns about ethics and security. Donald Trump wants

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Speaker 1: the aircraft to be used as Air Force one while

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Speaker 1: Boeing completes two new jets that have been delayed. The

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Speaker 1: gift will need to be modified before it can fly

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Speaker 1: the president now. Democrats have heavily criticized the acceptance of

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Speaker 1: the jet. Chuck Schumer, the top Democrat in the US

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Speaker 1: Senate on the Chamber four, called the plane the largest

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Speaker 1: foreign gift to an American president in modern history. Before

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Speaker 1: we leave Donald Trump, he held a firing meeting with

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Speaker 1: the South African president overnight over that country's alleged mistreatment

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Speaker 1: of white farmers. Trump alleged white genocide and land seziers,

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Speaker 1: including showing a video in the Able Office that, according

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Speaker 1: to the President, shows the graves of white people. That's

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Speaker 1: it the Artinon Report for Thursday, the twenty second of

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Speaker 1: May twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We will be back tomorrow morning with the Friday edition

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Speaker 1: of the past five Business News five Here and greed.

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Speaker 1: I'm Sean al Month. Enjoy your evening,