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Speaker 1: Heather duper c La. It's all on. The nurses have

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Speaker 1: just announced they're going to strike as well. They're going

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Speaker 1: to be striking on the second and the fourth of

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Speaker 1: September and it will involve fourteen thousand nurses. Don't tell

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Speaker 1: me this isn't coordinated. Do not tell me this isn't coordinated.

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Speaker 1: Sixteen pas six. Michael, look, Milford Acid Management is with

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Speaker 1: us A Michael hey Ever, I guess we've got the

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Speaker 1: US inflation data for July out last night. Good news

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Speaker 1: or bad news for the economy over there.

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Speaker 2: Well, we would call that inflation data mixed, but it

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Speaker 2: was better than some had fared given tariffs, and we

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Speaker 2: did see the US shear market runly on the back

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Speaker 2: of it last night. Now, look at the numbers. Overall

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Speaker 2: inflation stayed steady at two point seven percent. However, core inflation,

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Speaker 2: which strips out woldtail items like energy, now that was

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Speaker 2: high and expected up zero point three percent in July

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Speaker 2: and up three point one percent compared to last year.

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Speaker 2: So while reported inflation data was steady, underlying inflation pressures

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Speaker 2: in the US are growing, with businesses done to pass

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Speaker 2: on tariff flated costs, and we have to remember a

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Speaker 2: large proportion of those tariffs only came into effect this month,

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Speaker 2: so there's still is a risk that core inflation continues

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Speaker 2: to build throughout the year in the US as businesses

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Speaker 2: increase prices on tariff goods.

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Speaker 1: So with inflation looking I suppose we could say relatively tame,

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Speaker 1: are we going to start to see cuts in the

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Speaker 1: rates there?

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Speaker 2: Well? After the data, markets are now seeing a ninety

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Speaker 2: five percent chance of a FED rate cut next month,

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Speaker 2: up from eighty five percent the day before, So investors

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Speaker 2: think it's pretty certain that they'll cut rates next month.

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Speaker 2: With July inflation relatively steady and a weekening job market,

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Speaker 2: so there are now two to three FED rate cuts

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Speaker 2: expected this year, which requires tariffs to not have a

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Speaker 2: large impact on inflation or for the FED to cut anyway.

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Speaker 1: Now we've got the reporting season kicking off here tomorrow.

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Speaker 1: What should we be watching?

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Speaker 2: Well, while the US earning season is winding down here

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Speaker 2: in New Zealand, we're just about to stay art when

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Speaker 2: New Zealand companies are going to report their results for

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Speaker 2: the past six months as well as given outlook on

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Speaker 2: the future, and generally we expect results are going to

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Speaker 2: be pretty soft given the tough economic environment. However, the

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Speaker 2: real focus for investors will be on whether company outlooks

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Speaker 2: show signs of improvement or not. Now first up tomorrow

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Speaker 2: as Vista Group. They sell cinema software all around the world,

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Speaker 2: and we think they could post a bit of a

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Speaker 2: mixed result if the cinema is still under a bit

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Speaker 2: of pressure and a weaker US dollar impacting their revenue.

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Speaker 2: By the main focus for them will all be about

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Speaker 2: whether they've got strong customer demand or not for their

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Speaker 2: new cloud products.

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Speaker 1: Yeah, brilliant and which earnings of the market going to

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Speaker 1: be watching.

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Speaker 2: Well next week starts with a two milk on Monday,

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Speaker 2: which is always an interesting result with their share price

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Speaker 2: known to move sharply up or down. Now they sell

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Speaker 2: infant formula into China, which can be a difficult market

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Speaker 2: to follow and always creates a bit of uncertainty going

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Speaker 2: to results. And then the other one i'd call out

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Speaker 2: is just Bark, which will report next Wednesday. Now that

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Speaker 2: will be an interesting result after them selling their data

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Speaker 2: center business yesterday, and I think the real focus for

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Speaker 2: investors will be on whether their earnings and their core

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Speaker 2: business have stabilized or not, as well as what they

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Speaker 2: do with the dividend and whether they cuss it and

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Speaker 2: by how much good stuff.

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Speaker 1: Michael, thanks for running us through at Michael Luke Milford

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Speaker 1: Asset Management.

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Speaker 2: For more from Heather Duplessy Allen Drive, listen live to

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Speaker 2: news talks they'd be from four pm weekdays, or follow

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Speaker 2: the podcast on iHeartRadio