Every year around this time there's talk of a Santa Claus rally on the ASX. So what is it, is it real, and will we see one this year?

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Q+A: Is the Santa rally real?

Sean Aylmer and Michael Thompson take a look at the main business news stories this week, from the government's budget update - a missed opportunity to right the fiscal ship - through to Treasury Wine Estate's shocking year.

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The Weekend Edition | 20-21 Dec 2025

This is the Fear and Greed [https://fearandgreed.com.au/] 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 closes 0.5pc higher

 2. PM announces gun buyback scheme

 3. WiseTech investigation wraps up

 4. Trump Media to merge with nuclear fusion

 5. Coldplay kiss cam HR chief speaks

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Afternoon Report | PM announces gun buyback scheme

Friday 19 December 2025

With less than two weeks to go until the end of the year, small caps have significantly outperformed large caps in 2025. 

 * Prime Minister Anthony Albanese accepts some blame for the Bondi massacre. 
 * The boss of Woodside Energy poached to run BP globally. 
 * YouTube to broadcast the Oscars.
 * A rare adoption in the polar bear community.

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And don’t miss the latest episode of How Do They Afford That? [https://fearandgreed.com.au/how-do-they-afford-that-sugar-mamma-canna-campbell/] - this week, why we hide our money mistakes. Get the episode from APPLE [https://podcasts.apple.com/au/podcast/how-do-they-afford-that/id1644255235], SPOTIFY [https://open.spotify.com/show/1EW5WRlRh7MovSBNkk6dG8?si=b2203ec2fa934a14], or anywhere you listen to podcasts.

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Small beats big on ASX in ‘25; PM accepts blame for massacre; Woodside boss to run BP

Markets aren’t always rational, and neither is the commentary around them. Diana Mousina, Deputy Chief Economist at AMP, talks to Sean Aylmer about the five lessons she learnt this year, including the growing market impact of politics, how to read Trump’s trade agenda, why gold and tech defied the textbook, why Fed “speak” can be noise, and why inflation can stay sticky, even when everyone expects it to fade.

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Q+A: Five things this economist learnt in 2025

This is the Fear and Greed [https://fearandgreed.com.au/] 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 closes flat

 2. PM's plan to fight anti-semitism

 3. ANZ's second strike

 4. Housing market profitability soars

 5. Warner Bros prefer Netflix

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Afternoon Report | Energy slumps

Today, the federal government outlines lower deficits in coming years in its mid-year budget review, but does little to improve the fiscal outlook. 

 * The first funerals for the victims of the Bondi beach massacre are held. 
 * Penfolds owner Treasury Wine Estates admits near defeat in the US and China. 
 * The competition regulator sues Hello Fresh.
 * Tesla’s share price hits a new high on the back of robotaxis.

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And don’t miss the latest episode of How Do They Afford That? [https://fearandgreed.com.au/how-do-they-afford-that-sugar-mamma-canna-campbell/] - this week, why we hide our money mistakes. Get the episode from APPLE [https://podcasts.apple.com/au/podcast/how-do-they-afford-that/id1644255235], SPOTIFY [https://open.spotify.com/show/1EW5WRlRh7MovSBNkk6dG8?si=b2203ec2fa934a14], or anywhere you listen to podcasts.

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Budget deficits for years; Bondi charges laid; Treasury Wine Estate dumped

Today's question comes from listener Peter, who sent it through the Fear & Greed website [https://www.google.com/url?q=https://fearandgreed.com.au/&sa=D&source=calendar&ust=1766403042530415&usg=AOvVaw1_H3zjjXF40wbTRyMFE66Y]:

Who measures emissions, how are they measured, is the number audited, checked off on, and by who? Is it measured the same way in every country? BHP and FMG can measure their emissions, I'm assuming they have budgets, but what about for smaller companies, companies that aren't listed? 
Sean Aylmer is joined by Thomas Hodgson from sustainability consultancy Anthesis for an answer to Peter's question.

Fear & Greed Q+A: Join Sean Aylmer & Michael Thompson and the team as they answer questions on business, investing, economics, politics and more. If you have your own question, get in touch via our website [https://www.google.com/url?q=http://fearandgreed.com.au&sa=D&source=calendar&ust=1766403042530415&usg=AOvVaw1decnQa9VdK4y218Kexx36], LinkedIn [https://www.google.com/url?q=https://www.linkedin.com/company/fear-and-greed&sa=D&source=calendar&ust=1766403042530415&usg=AOvVaw1kxx2N8r3Slmiha8-kAuLf], Instagram [https://www.google.com/url?q=https://www.instagram.com/fearandgreedpodcast/&sa=D&source=calendar&ust=1766403042530415&usg=AOvVaw2jbkmn8WhNKaOw8_J0aCNM] or Facebook [https://www.google.com/url?q=https://www.facebook.com/FearAndGreedPodcast&sa=D&source=calendar&ust=1766403042530415&usg=AOvVaw29oa782rUxOLueYooHC7Lz]!

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Q+A: How a company's emissions are really measured

This is the Fear and Greed [https://fearandgreed.com.au/] 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. Oil price near 5yr low

 2. First funeral held for Bondi victim

 3. Star Entertainment’s new boss

 4. Jacinta Allan’s China trip cost $233k

 5. White House Chief of Staff’s frank interview

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Afternoon Report | ASX lower as oil price slumps

Prime Minister Anthony Albanese says the massacre at Bondi Beach on Sunday was inspired by terrorist group ISIS. 

 * Consumer confidence takes a tumble. 
 * Google considers becoming an online property seller. 
 * A precedent setting WFH case is overturned. 
 * The Nasdaq wants to trade 23 hours a day.

Join our free daily newsletter here [https://fearandgreed.com.au/newsletter-signup].

And don’t miss the latest episode of How Do They Afford That? [https://fearandgreed.com.au/how-do-they-afford-that-sugar-mamma-canna-campbell/] - this week, why we hide our money mistakes. Get the episode from APPLE [https://podcasts.apple.com/au/podcast/how-do-they-afford-that/id1644255235], SPOTIFY [https://open.spotify.com/show/1EW5WRlRh7MovSBNkk6dG8?si=b2203ec2fa934a14], or anywhere you listen to podcasts.

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See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

ISIS inspired Bondi attack; consumer confidence tumbles; Google to sell property?

Fear and Greed is Australia's most popular business podcast. All the business news you need to know, every day, with business journalist Sean Aylmer and Michael Thompson.

 