Fear and Greed Afternoon Report | 11 Jul 2025

This is the Fear and Greed Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes.

1. ASX flat

2. Bitcoin hits new record

3. PM heads to China

4. Trump’s Aussie pick

5. Tariff threat

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Episode Transcript

Speaker 1 (00:04):
Welcome to the Fear and Greed Business News Afternoon Report
for Friday, the eleventh of July twenty twenty five. I'm
Sean Almer. Every afternoon, We've got the five stories that
happened today that you need to know about story and
I'm one. The local share market closed down slightly today
to finish the session at eight five hundred and eighty points,
even though Wall Street hit new records overnight. The clothes

(00:24):
would have been worse but for a strong performance from
the material sectors and particularly the miners. There were some
serious buyers for battery metals companies, with a Luca Resources
and rare earth surging. It came after the Pentagon invested
into a group called MP Materials, listed on Wall Street,
to gain access to non Chinese rare earths that had

(00:45):
an impact on local miners. A Luke closed up twenty
two percent, Liners finished seventeen percent higher, b HP, Fortys,
Hugh and raw All jumped close to three percent on
the back of high iron ore prices. Almost all of
the other large cap stocks were lover, with Macquarie, Goodman,
Transurban and Wes Farmers doing worst. Storry number two Bitcoin
hit another new record this morning Australian time, pushing beyond

(01:06):
one hundred and sixteen thousand US dollars a unit. He
came as the S and P five hundred hit a
record high in hopes that interest rates in the US
will fall in coming months. Bitcoin, a risk asset, has
defied concerns about global growth and is up more than
fifty percent since it's low in early April, supporting the
original cryptocurrency is growing institutional support. Storry number three. Prime

(01:28):
Minister Anthony Albernizi heads to China this weekend and says
business leaders have been highly supportive of the visit, which
includes a meeting with President Jijingping. Alberizi will be joined
by representatives from major companies including BHP, Rio and Fortescume.
The PM also played down suggestions that a meeting in
January between Donald Trump and former Prime Minister Kevin Rudd

(01:49):
was a secret. Right is now Australia's Ambassador to the
US and met with Trump at his Florida golf club.
Storry number four, a former deputy mayor of Sydney Municipality, Ashfah,
has been picked to be the US Ambassador to Malaysia.
Nick Adams, a graduate from the University of Sydney. Was
best known in Ashfield for his push to banish pigeons

(02:10):
from the suburb. Not sure how he was going to
do that, Adams immigrated to the US in twenty twelve,
where he has been an avid and consistent backer of
the US President. Adams began to gain prominence as a
conservative activist, commentator, public speaker, and author, often appearing on
the Fox News television network. He posted on X Today,

(02:31):
delusional self belief and irrational optimism, along with endless hard
work makes anything possible. Adams nomination to be the US's
top diplomat in Malaysia has been sent to the Senate
for confirmation and story number five. The US will impose
a thirty five percent tariff on imports from Canada next month,
and plans to hit most other trade partners with blanket

(02:52):
tariffs of fifteen to twenty percent. In a letter released
on his social media platform, Trump told Canadian Prime Minister
Mark Karney that the new rate would take effect on
August one, and will rise further if Canada retaliates. The
US president added that trading partners that had not yet
received letters would likely face blanket tariffs Australia has not

(03:15):
yet received a tariff letter from Trump and currently expects
to have a ten percent tariff rate. That's it for
the Afternoon Report for Friday, the eleventh of July twenty
twenty five. Make sure you follow on the podcast. We
will be back tomorrow morning with a weekend edition of
the Fast Five. This is years by Fear and Greek.
I'm Shane Elmer. Enjoy reading