Afternoon Report | ASX hits new record

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 hits new record

2. CSL, BHP lead the way

3. Chalmers warning

4. Netflix success

5. Crypto boost

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Episode Transcript

Speaker 1 (00:03):
Welcome to the Fear and Green Business News Afternoon Report
for Friday, the and h 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
number one. The local sharemarker closed up almost one and
a half percent a day to a new high of
eighty seven hundred and fifty seven points, having peaked at
an all time high of eighty seven hundred and seventy

(00:25):
six point four points. Healthcare stocks jumped, as did the
big miners and tech companies. CSL led the way, rising
three point six percent, taking its weekly gain to seven percent,
while BHP was up three percent. We're on that shortly.
Among the large caps, other good performers included all the
big four banks, Woodside, Aristocrat, Leisure, Rio, Tinto, and Woolies.

(00:45):
For the week, the Boss was up just over two percent,
driven by hopes of lower interest rates in Australia and
new highs on Wall Street. Story number two. BHP today
reported record copper and iron ore production for the year
to June thirty. Despite the disruptions and ongoing global economic uncertainty,
the company delivered an eight percent, increasing copper output to

(01:06):
two million tons across the group, driven by a sixteen
percent lift at Chile Chile's Escondida and a strong quarterly
performance from copper. South Australia iron ore output also reached
a new high, with West Australian iron ore producing two
hundred and ninety million tons overcoming cyclone disruptions earlier in
the year. BHP said that global commodity demand has remained resilient,

(01:28):
with copper and steel supported by renewables, grid upgrades and
electric vehicle growth. BHP share price, as I mentioned, closed
up three percent. Sorry Number three treasure Jim Chalmers says
US President Donald Trump's tariffs have created some blunt conversations
among participants at the G twenty meeting, including Japan, South Africa,
Canada and Indonesia. Charmers said the global economy is entering

(01:52):
a period of more or less permanent uncertainty after four
large economic shocks in two decades. He said. Five Nance
minister at the G twenty meeting in South Africa broadly
agreed that the best way to deal with his permanent
uncertainty is more engagement, more collaboration, more secure supply chains,
more reliable markets and also more ambition in our own

(02:12):
economic policies. Sorry. Number four streaming group Netflix has reported
better than expected second quarter results and up to its
forecast for four year sales and profit margins. The second
quarter is historically slow for Netflix, according to Bloomberg, but
the company released a steady slate of popular shows, including
two of the most watched titles of the year, the

(02:32):
third season of Ginny and Georgia and the final season
of Squid Game. The company also been benefited from a
week US dollar. More than two thirds of its customers
live outside the US. Shares of Netflix have nearly doubled
over the past year, and the company's market value tops
five hundred billion US dollars. That means Netflix is worth
more than Walt Disney, Comcast, and Warner Brothers Discovery combined.

(02:55):
The second half schedule includes new seasons of the hit
show Stranger Thing, also a new season of Wednesday, as
well as movies such as Happy Gilmore, tim and Finally
Story Number five. Donald Trump is preparing to open the
nine trillion US dollar US retirement market to cryptocurrency investments, gold,
and private equity, in a move that could radically shift

(03:17):
the way American savings are managed. Trump is expected to
sign an executive order shortly that would open up four
oh one K plans to alternative investments beyond traditional stocks
and bonds. According to the Financial Times, in the US,
four oh one K plans are among the most popular
ways to save for retirement, allowing people to invest a
portion of their salaries in publicly traded securities tax free,

(03:39):
but currently virtually all such investments are housed in public
stocks and bond mutual funds, not in cryptos. That's it
for the afternoon report for Friday, the eighteenth of July
twenty twenty five. Make sure you hit follow on the podcast.
We will be back tomorrow morning with the weekend edition
I Fear and Greed Business News. I'm sure Elma enjoy
your evening.