Welcome to the Fear and Greed Business News. The Afternoon Report for Thursday, the sixteenth of May twenty twenty four. I'm Sean Almer. Every afternoon, we've got the five stories that happened today that you need to know about. Join Tom one. Two big news events over the past twenty four hours have increased the chances of interst rate cuts later this year fairly significantly. First, core infation figures in the US, which excludes food and energy costs, rose zero point three percent last month, snapping a streak of higher figures. As a result, the S and P five hundred hit its twenty third record this year. The data provides hope that inflation is resuming its downward trend in the US, which would open the way for interstrate cuts there. Then, locally, the April unemployment data came out. It showed a jump from three point nine percent in March to a rate of four point one percent last month. There was a surge in job numbers, but there are even more people looking for work. The US inflation and local unemployment figure convinced bond investors to price out any chance of a rate high in Australia and price in a fifty percent chance of a rate cut later this year. Certainly was a market moving twenty four hours a storing number two. As a result of the interest rate news, the S and p ASX two hundred closed up one point seven percent to seven eight hundred and eighty one points. Interst Rate sensitive stocks rose most Goodman Group was up four point six percent and Wisteck Global jumped four point two percent. In fact, the real estate and tech in disease were up most today, but really all the large caps were higher, with the exception of the two energy companies Woodside and Santos National. Australian Bank and AMS edited the banks higher, both up more than two percent, but Quarry was up nearly three percent. The big miners were higher, so to the retailers, Transurban, Telstra. The list goes on. In corporate news, the bidding war for Nemoy Cotton has been hit by the Australian Competition and Consumer Commission, saying a sale to France's that Louis Dreyfuss would fointantially lessened competition. That sent Naimoy's share price tumbling, and it puts Singapore's Olam in the box seat to win that battle. Problem is that Louis Dreyfuss already owned sixteen point ninety nine percent of Nimoi Story number three, evan Awaitu's administrator, so the airline was clearly not in a position to meet its financial commitments well before it collapsed a week ago, owing more than ninety nine million dollars to customers, staff and lenders. Liquidator Ernstan Young said evan Awatu had a high cost base for the size of its operations and a significant level of debt, employing a high number of staff for an operation of its size and nature. The carrier has been supported financially by the government of Vanuatu. Evanhuaitu flew to Brisbane, Sydney, Melbourne, Auckland, as well as Nadi in Fiji and Eumeya in New Caledonia. It also operated a small domestic fleet, Story number four. Interitec's share price hit a year high even though the group lost money over the last six months. The group announced an interim loss of one hundred and forty eight million dollars on the back of impairments from its fertilizers business this morning. Now they were somewhat offset by the sale of its wagonman Ammonia manufacturing plants in the US. Investors focused on underlying gains of eighteen percent at the company, also on talks to offload the fertilizer business. Insitekis negotiations for the sale of the fertilizer's business to an Indonesian group and story number five. France has declared state of emergency in its specific territory of New Caledonia as it seeks to quell deadly riots spiked by a controversial electoral reform. Four people, including one police officer, have died in unrest that has raged this week, despite the deployment of extra police and imposition of a curfew. According to The Financial Times, President Manuel Macron condemned the unacceptable violence and called for the resumption of talks to negotiate a political solution to the crisis. Declaring a state of emergency allows the government to restrict certain freedoms without judicial review, including banning protests, limiting travel, and carrying out searches. That's it for the afternoon report for Thirst, the sixteenth of May twenty twenty four. Michael Thomas and I will be back tomorrow morning with the Friday edition. Off for You and Greed Business News. I'm sure I, Elma, enjoy your evening

Welcome to the Fear and Greed Business News. The Afternoon Report for Thursday, the sixteenth of May twenty twenty four. I'm Sean Almer. Every afternoon, we've got the five stories that happened today that you need to know about. Join Tom one. Two big news events over the past twenty four hours have increased the chances of interst rate cuts later this year fairly significantly. First, core infation figures in the US, which excludes food and energy costs, rose zero point three percent last month, snapping a streak of higher figures. As a result, the S and P five hundred hit its twenty third record this year. The data provides hope that inflation is resuming its downward trend in the US, which would open the way for interstrate cuts there. Then, locally, the April unemployment data came out. It showed a jump from three point nine percent in March to a rate of four point one percent last month. There was a surge in job numbers, but there are even more people looking for work. The US inflation and local unemployment figure convinced bond investors to price out any chance of a rate high in Australia and price in a fifty percent chance of a rate cut later this year. Certainly was a market moving twenty four hours a storing number two. As a result of the interest rate news, the S and p ASX two hundred closed up one point seven percent to seven eight hundred and eighty one points. Interst Rate sensitive stocks rose most Goodman Group was up four point six percent and Wisteck Global jumped four point two percent. In fact, the real estate and tech in disease were up most today, but really all the large caps were higher, with the exception of the two energy companies Woodside and Santos National. Australian Bank and AMS edited the banks higher, both up more than two percent, but Quarry was up nearly three percent. The big miners were higher, so to the retailers, Transurban, Telstra. The list goes on. In corporate news, the bidding war for Nemoy Cotton has been hit by the Australian Competition and Consumer Commission, saying a sale to France's that Louis Dreyfuss would fointantially lessened competition. That sent Naimoy's share price tumbling, and it puts Singapore's Olam in the box seat to win that battle. Problem is that Louis Dreyfuss already owned sixteen point ninety nine percent of Nimoi Story number three, evan Awaitu's administrator, so the airline was clearly not in a position to meet its financial commitments well before it collapsed a week ago, owing more than ninety nine million dollars to customers, staff and lenders. Liquidator Ernstan Young said evan Awatu had a high cost base for the size of its operations and a significant level of debt, employing a high number of staff for an operation of its size and nature. The carrier has been supported financially by the government of Vanuatu. Evanhuaitu flew to Brisbane, Sydney, Melbourne, Auckland, as well as Nadi in Fiji and Eumeya in New Caledonia. It also operated a small domestic fleet, Story number four. Interitec's share price hit a year high even though the group lost money over the last six months. The group announced an interim loss of one hundred and forty eight million dollars on the back of impairments from its fertilizers business this morning. Now they were somewhat offset by the sale of its wagonman Ammonia manufacturing plants in the US. Investors focused on underlying gains of eighteen percent at the company, also on talks to offload the fertilizer business. Insitekis negotiations for the sale of the fertilizer's business to an Indonesian group and story number five. France has declared state of emergency in its specific territory of New Caledonia as it seeks to quell deadly riots spiked by a controversial electoral reform. Four people, including one police officer, have died in unrest that has raged this week, despite the deployment of extra police and imposition of a curfew. According to The Financial Times, President Manuel Macron condemned the unacceptable violence and called for the resumption of talks to negotiate a political solution to the crisis. Declaring a state of emergency allows the government to restrict certain freedoms without judicial review, including banning protests, limiting travel, and carrying out searches. That's it for the afternoon report for Thirst, the sixteenth of May twenty twenty four. Michael Thomas and I will be back tomorrow morning with the Friday edition. Off for You and Greed Business News. I'm sure I, Elma, enjoy your evening