FEAR & GREED | Business News Afternoon Report | ASX up, Fed cuts rates
Dec 11, 2025
The latest market movements take center stage with the ASX initially rising following a Fed rate cut, but then cooling off due to Oracle's performance. Political tensions flare as the PM faces tough questions about travel entitlements. Optus is unveiled as Australia's most distrusted telco, highlighting broader issues of public trust in the industry. In a surprising twist, a skydiving mishap in Queensland nearly ends in disaster. Finally, the potential SpaceX IPO could make Musk the first trillionaire.
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Markets Edge Up Then Stall
- The S&P/ASX 200 rose 0.2% after the US Federal Reserve cut interest rates, but gains faded after Oracle's weak results hit tech stocks.
- Miners and gold benefited on hopes of Chinese stimulus and higher gold prices.
Jobs Fall Despite Stable Unemployment
- Australia's unemployment rate held at 4.3% in November while employment fell by 21,000, missing forecasts for job growth.
- The discrepancy suggests underlying labour-market weakness despite a steady unemployment rate.
PM Deflects On Travel Entitlements
- Prime Minister Anthony Albanese defended longstanding travel rules after scrutiny over MPs' family travel entitlements.
- He emphasised he doesn't set those rules and is focused on social media reforms instead.