Welcome to the Fear and Greed Business News Afternoon Report for Thursday, the twoth of December twenty twenty four. I'm Sean Elmer. Every afternoon, We've got the five stories have happened today that you need to know about. Story number one. The unemployment rate felt a three point nine percent last month, much lower than expect that and enough for financial markets to discount any chance of a rate cut in February. A surge in full time jobs last month has kept the labor market strong. The result immediately triggered a rise in the Aussie dollar, but a fall in the local share market. By the close, the SMPA six two hundred was down zero point three percent to eighty three hundred and thirty one points. The banks will mostly fat, the big miners were mixed. Some of the techtocs did well, including Promedicus and zero, though Area dropped Story number two. One country where a rate cut is likely is the United States, that follows a positive inflation reading overnight. The USCPI rose by zero point three percent in November and two point seven percent for the year, and markets have now priced in a ninety five percent chance of a twenty five basis point cut next week when the Federal Reserve meets. The Bank of Canada and European central banks are also cutting rates. Australia's just looking a little bit lonely at the moment. The inflation figures in the US helped Wall Street, with the tech heavy NASDAK pushing beyond two twenty thousand points for the first time ever. The Nasdaq has almost doubled over the past two years as the Magnificent seven tech stocks Apple and Vidia, Microsoft, Alphabet, Amazon, Tesla, and Meta have pushed Wall Street higher and higher. The single biggest question for investors on Wall Street can the Magnificent seven keep running straight? Number three? Childcare is set to be front end center and the upcoming federal election campaign after the Coalition today said it won't support government plans to change the rules around accessing financial support. Yesterday, Prime Minister Anthony alberiz He said the activity test for childcare payments would be removed now that test requires parents to have a job, to be looking for work or studying to receive subsidies. The Prime Minister also announced a one billion dollar early education fund to help build or expand one hundred and sixty child care facilities in what they're calling child care deserts, places where there's high demand and few facilities. The opposition said it won't support the changes, though notwithstanding many in the business community, including the Business Council of Australia, do support the changes. The government's also considering a scheme whereby families would pay a flat fee of ten dollars or twenty dollars a day for childcare with no activity test story number four. The share price of Infrastructure Services provide a Venture tumbled today on news that the Australian Competition and Consumer Commission has started proceedings against it and Spotless for alleged historical price fixing. Spotless is nowadays owned by Downer Edi, and its share price fell as well. The case relates to a multi billion dollar contract with the Federal Defense Department to provide maintenance and operational services to two hundred bases around the country. Spotless currently has a four billion dollar contract with Defense. Venture has a five point eight billion dollar contract. They're both due to expiring mid twenty twenty five, according to the finn Review. The hriablec alleges that executives from the two companies made or tried to make arrangements to fix the prices at which Spotless, Ventia and a third group, Canadian owned BGIS, supplied services to Defense between April twenty nineteen. In August twenty twenty two, HBLEC chair Gena Cascott Leeb said the alleged conduct caused direct harm to taxpayers. Downer has denied the allegations. Ventia said it's reviewing details of the allegations before commenting and story number five. The UN General Assembly overnight overwhelmingly approved resolutions demanding an immediate ceasefire in Gaza and backing the UN Agency for Palestinian Refugees, which Israel onance banned. There were one hundred and fifty eight votes in favor of both motions, including Australia's votes. Israel and the US were in the small minority, speaking and voting against the resolutions. General Assembly resolutions are not legally binding, but broadly they reflect world opinion. There are no vitas in the Assembly. The vote occurred after the US vetoed a Security Council resolution last month demanding an immediate Guaza ceasefire. That's it for the afternoon report for Thursday, the twurth of December twenty twenty four, make sure you hit follow on the podcast. We'll be back tomorrow morning with a Friday edition of her in Greed Business News. I'm chanelma enjoy your evening.

Welcome to the Fear and Greed Business News Afternoon Report for Thursday, the twoth of December twenty twenty four. I'm Sean Elmer. Every afternoon, We've got the five stories have happened today that you need to know about. Story number one. The unemployment rate felt a three point nine percent last month, much lower than expect that and enough for financial markets to discount any chance of a rate cut in February. A surge in full time jobs last month has kept the labor market strong. The result immediately triggered a rise in the Aussie dollar, but a fall in the local share market. By the close, the SMPA six two hundred was down zero point three percent to eighty three hundred and thirty one points. The banks will mostly fat, the big miners were mixed. Some of the techtocs did well, including Promedicus and zero, though Area dropped Story number two. One country where a rate cut is likely is the United States, that follows a positive inflation reading overnight. The USCPI rose by zero point three percent in November and two point seven percent for the year, and markets have now priced in a ninety five percent chance of a twenty five basis point cut next week when the Federal Reserve meets. The Bank of Canada and European central banks are also cutting rates. Australia's just looking a little bit lonely at the moment. The inflation figures in the US helped Wall Street, with the tech heavy NASDAK pushing beyond two twenty thousand points for the first time ever. The Nasdaq has almost doubled over the past two years as the Magnificent seven tech stocks Apple and Vidia, Microsoft, Alphabet, Amazon, Tesla, and Meta have pushed Wall Street higher and higher. The single biggest question for investors on Wall Street can the Magnificent seven keep running straight? Number three? Childcare is set to be front end center and the upcoming federal election campaign after the Coalition today said it won't support government plans to change the rules around accessing financial support. Yesterday, Prime Minister Anthony alberiz He said the activity test for childcare payments would be removed now that test requires parents to have a job, to be looking for work or studying to receive subsidies. The Prime Minister also announced a one billion dollar early education fund to help build or expand one hundred and sixty child care facilities in what they're calling child care deserts, places where there's high demand and few facilities. The opposition said it won't support the changes, though notwithstanding many in the business community, including the Business Council of Australia, do support the changes. The government's also considering a scheme whereby families would pay a flat fee of ten dollars or twenty dollars a day for childcare with no activity test story number four. The share price of Infrastructure Services provide a Venture tumbled today on news that the Australian Competition and Consumer Commission has started proceedings against it and Spotless for alleged historical price fixing. Spotless is nowadays owned by Downer Edi, and its share price fell as well. The case relates to a multi billion dollar contract with the Federal Defense Department to provide maintenance and operational services to two hundred bases around the country. Spotless currently has a four billion dollar contract with Defense. Venture has a five point eight billion dollar contract. They're both due to expiring mid twenty twenty five, according to the finn Review. The hriablec alleges that executives from the two companies made or tried to make arrangements to fix the prices at which Spotless, Ventia and a third group, Canadian owned BGIS, supplied services to Defense between April twenty nineteen. In August twenty twenty two, HBLEC chair Gena Cascott Leeb said the alleged conduct caused direct harm to taxpayers. Downer has denied the allegations. Ventia said it's reviewing details of the allegations before commenting and story number five. The UN General Assembly overnight overwhelmingly approved resolutions demanding an immediate ceasefire in Gaza and backing the UN Agency for Palestinian Refugees, which Israel onance banned. There were one hundred and fifty eight votes in favor of both motions, including Australia's votes. Israel and the US were in the small minority, speaking and voting against the resolutions. General Assembly resolutions are not legally binding, but broadly they reflect world opinion. There are no vitas in the Assembly. The vote occurred after the US vetoed a Security Council resolution last month demanding an immediate Guaza ceasefire. That's it for the afternoon report for Thursday, the twurth of December twenty twenty four, make sure you hit follow on the podcast. We'll be back tomorrow morning with a Friday edition of her in Greed Business News. I'm chanelma enjoy your evening.