1 00:00:00,320 --> 00:00:02,440 Speaker 1: Now let's get an update from the markets today. Greg 2 00:00:02,480 --> 00:00:04,120 Speaker 1: Smith from Devin Funds is with us. 3 00:00:04,120 --> 00:00:04,240 Speaker 2: Hey. 4 00:00:04,280 --> 00:00:07,480 Speaker 1: Greg, Hey, it's very good to talk to you. Now. 5 00:00:07,520 --> 00:00:09,119 Speaker 1: The key we market had a good session. It's up 6 00:00:09,200 --> 00:00:11,400 Speaker 1: zero point eight percent. What's been driving this optimism? 7 00:00:12,000 --> 00:00:13,360 Speaker 2: Yeah, that's what I mean, sort of running on the 8 00:00:13,360 --> 00:00:15,560 Speaker 2: back of the optimism in the US. I mean, what 9 00:00:15,640 --> 00:00:17,360 Speaker 2: trade warth the S and P five hundred, I mean, 10 00:00:17,360 --> 00:00:21,680 Speaker 2: that's crawed back all its losses since Liberation Day, and 11 00:00:21,720 --> 00:00:23,040 Speaker 2: it's actually been on a bit of a bit of 12 00:00:23,040 --> 00:00:25,640 Speaker 2: a record run. So I suppose you investors are sort 13 00:00:25,680 --> 00:00:28,680 Speaker 2: of pricing in, you know, the worst case scenario that 14 00:00:28,760 --> 00:00:31,000 Speaker 2: you know, when you produce that border a few weeks back, 15 00:00:31,080 --> 00:00:33,680 Speaker 2: not not happening. So you know, we've got hundreds of 16 00:00:33,720 --> 00:00:36,880 Speaker 2: deals evidently coming in the next sort of two months. 17 00:00:36,880 --> 00:00:40,159 Speaker 2: And I suppose what we're really waiting on is some 18 00:00:40,200 --> 00:00:42,520 Speaker 2: sort of meeting of the minds between China and the US. 19 00:00:42,560 --> 00:00:44,640 Speaker 2: And yea, it still seems to be a bit of 20 00:00:44,680 --> 00:00:47,840 Speaker 2: cat and mouse. You know, there's been conciliatory tones, there's 21 00:00:47,880 --> 00:00:51,440 Speaker 2: been exemptions China set on Friday. That's sort of already 22 00:00:51,440 --> 00:00:54,400 Speaker 2: for talks. Trump said over the weekend that he's not 23 00:00:54,400 --> 00:00:56,520 Speaker 2: going to speak to Beijing this week. So I think 24 00:00:56,600 --> 00:00:58,320 Speaker 2: that's what investors sort of looking for that you know, 25 00:00:58,360 --> 00:01:02,280 Speaker 2: that's going to be better than fear from that regard. 26 00:01:02,800 --> 00:01:04,600 Speaker 2: So yeah, the US market's sort of pushing high. I 27 00:01:04,640 --> 00:01:07,360 Speaker 2: mean the New Zealand market didn't fall as most as 28 00:01:07,400 --> 00:01:09,880 Speaker 2: much as most anyway, but it's yes, sort of sort 29 00:01:09,880 --> 00:01:13,319 Speaker 2: of clawing things back as you mean, zero point eight percent. 30 00:01:13,400 --> 00:01:15,880 Speaker 2: We've got fish and park Or we know one of 31 00:01:15,920 --> 00:01:18,679 Speaker 2: our exporters of suppose most in the frame with respect 32 00:01:18,720 --> 00:01:22,520 Speaker 2: to teriffs, but that's sort of in compliance of this 33 00:01:22,600 --> 00:01:25,360 Speaker 2: agreement between US, Canada and Mexico and had a lot 34 00:01:25,400 --> 00:01:28,840 Speaker 2: of its I suppose operations in Mexico which supplies the US. 35 00:01:29,200 --> 00:01:30,800 Speaker 2: And then we've got main freight as well, and that's 36 00:01:30,840 --> 00:01:32,520 Speaker 2: been sort of wearing a bit of toil from the 37 00:01:33,000 --> 00:01:35,000 Speaker 2: tariff side of things. But yeah, seventy five percent of 38 00:01:35,120 --> 00:01:37,760 Speaker 2: earning of earnings come from Australia New Zealand, so use 39 00:01:37,880 --> 00:01:39,040 Speaker 2: is a bit of relevant. I mean, it's only around 40 00:01:39,040 --> 00:01:41,480 Speaker 2: about eight percent of earnings. So that had a great 41 00:01:41,520 --> 00:01:44,760 Speaker 2: down Friday, up twelve percent on its training update. It's 42 00:01:44,840 --> 00:01:47,760 Speaker 2: up again today as well, by two point four percent. 43 00:01:48,200 --> 00:01:50,480 Speaker 1: What do you make of Trump and there's tariffs on 44 00:01:50,520 --> 00:01:52,320 Speaker 1: foreign made movies? What impact will that have? 45 00:01:53,320 --> 00:01:55,800 Speaker 2: Well? I hate the whole tariff war has been a 46 00:01:55,800 --> 00:01:57,440 Speaker 2: bit of a soap opera, hasn't it. I Mean that's 47 00:01:57,440 --> 00:02:00,400 Speaker 2: been sort of lurching from one drama to an. Now 48 00:02:00,400 --> 00:02:03,360 Speaker 2: it actually has Hollywood. So I've got potentially one hundred 49 00:02:03,360 --> 00:02:06,240 Speaker 2: percent tariff on movies not made in America. He says 50 00:02:06,240 --> 00:02:09,240 Speaker 2: he wants to stop the slow death of Hollywood. I 51 00:02:09,240 --> 00:02:12,120 Speaker 2: suppose as usual and as we've become accustomed to with 52 00:02:12,200 --> 00:02:14,720 Speaker 2: Trump and all things on the trade front been quite 53 00:02:14,760 --> 00:02:16,720 Speaker 2: light on detail. So is it going to apply to 54 00:02:16,800 --> 00:02:19,320 Speaker 2: just movie showing and cinemas? Is it going to apply 55 00:02:19,440 --> 00:02:22,200 Speaker 2: to things on streaming as well? But yeah, it certainly 56 00:02:22,240 --> 00:02:24,600 Speaker 2: potentially going to have an impact, obviously, Chris, like someone's 57 00:02:24,600 --> 00:02:27,000 Speaker 2: speaking today, But you know, lord of the rings made 58 00:02:27,000 --> 00:02:29,679 Speaker 2: in New Zealand or movies made in Australia, you know 59 00:02:29,760 --> 00:02:33,000 Speaker 2: they are going to be potentially caught. So yeah, I'm 60 00:02:33,160 --> 00:02:34,480 Speaker 2: not going to be great for sort of the film 61 00:02:34,480 --> 00:02:37,600 Speaker 2: industries abroad. So yeah, pretty pretty amazing. We've sort of 62 00:02:37,639 --> 00:02:40,720 Speaker 2: no stone untouched with respect to the Tower Forum. We 63 00:02:40,800 --> 00:02:43,519 Speaker 2: have to sort of see where this all goes. But yeah, 64 00:02:43,560 --> 00:02:45,840 Speaker 2: so it just goes as suppose to the to the 65 00:02:45,880 --> 00:02:48,400 Speaker 2: soaproper that has been the trade war over the past 66 00:02:48,639 --> 00:02:49,280 Speaker 2: five weeks or so. 67 00:02:49,400 --> 00:02:50,919 Speaker 1: Lord, it would be a soaproper if it didn't cost 68 00:02:51,000 --> 00:02:52,919 Speaker 1: us so much. Greg, Thank you so much, appreciated you 69 00:02:52,919 --> 00:02:54,639 Speaker 1: awsome at Gregsmith of Devon Fans. 70 00:02:56,360 --> 00:02:59,519 Speaker 2: For more from Hither Duplessy Allen Drive, listen live to 71 00:02:59,600 --> 00:03:02,360 Speaker 2: News too S it'd be from four pm weekdays, or 72 00:03:02,400 --> 00:03:04,480 Speaker 2: follow the podcast on iHeartRadio.