1
00:00:00,040 --> 00:00:03,480
Speaker 1: Shane Solly, Harbor Asset Management, Shane good evening. Yeay, right,

2
00:00:03,600 --> 00:00:05,439
Speaker 1: another mixed update from the warehouse.

3
00:00:06,200 --> 00:00:09,760
Speaker 2: Yeah, look, another tough thirteen weeks. This is thirteen weeks

4
00:00:09,800 --> 00:00:11,879
Speaker 2: odd number on a to the second. In November they

5
00:00:12,400 --> 00:00:14,280
Speaker 2: salved there were six hundred and seventy four million. That

6
00:00:14,360 --> 00:00:16,759
Speaker 2: was on the zero point nine percent on the previous

7
00:00:17,239 --> 00:00:20,080
Speaker 2: corresponding period. If we strip out the number of stores

8
00:00:20,079 --> 00:00:21,880
Speaker 2: are open and the number of different days, it was

9
00:00:21,880 --> 00:00:25,040
Speaker 2: pretty much flat plus zero point one. So pretty tough.

10
00:00:25,200 --> 00:00:28,960
Speaker 2: Salor's environment is continuing for the warehouse. The red seed

11
00:00:29,040 --> 00:00:32,000
Speaker 2: margins down a little bit, obviously very competitive out there.

12
00:00:32,240 --> 00:00:36,000
Speaker 2: They did announce a costs reset program. They're aiming to

13
00:00:36,080 --> 00:00:38,879
Speaker 2: reduce their cost of doing business to below thirty one

14
00:00:38,880 --> 00:00:42,640
Speaker 2: percent of sales, down from thirty two point two. But

15
00:00:43,000 --> 00:00:45,159
Speaker 2: the market was a bit weirre about it. Sheprice that

16
00:00:45,200 --> 00:00:47,760
Speaker 2: we ship plosed down on zero point six percent to

17
00:00:47,840 --> 00:00:50,479
Speaker 2: seventy nine seventy nine a half ashes there.

18
00:00:50,560 --> 00:00:53,880
Speaker 1: Ron Now the psize still well. That the warehouse might

19
00:00:53,920 --> 00:00:56,480
Speaker 1: have groceries to sell soon, We'll have to wait and

20
00:00:56,480 --> 00:00:59,400
Speaker 1: see about that. Hey, the p sign number we got today,

21
00:00:59,520 --> 00:01:02,560
Speaker 1: so we've got manufacturing on Friday, that's now positive territory great,

22
00:01:02,600 --> 00:01:04,560
Speaker 1: but the PSI is still not a bit better but

23
00:01:04,600 --> 00:01:05,400
Speaker 1: still contracting.

24
00:01:06,160 --> 00:01:10,440
Speaker 2: That's right. So performance of Services Index, it measures monthly

25
00:01:10,520 --> 00:01:14,640
Speaker 2: the survey of the services industry. It's really indicator on activity.

26
00:01:14,640 --> 00:01:17,040
Speaker 2: If it's about fifty, it means it's expanding this below

27
00:01:17,080 --> 00:01:20,800
Speaker 2: to debts contracting. It increased on the October month, that

28
00:01:20,840 --> 00:01:24,080
Speaker 2: went up to forty eight point seven, up zero point four,

29
00:01:24,200 --> 00:01:27,440
Speaker 2: so up, but still because it's below fifty, it's still

30
00:01:27,480 --> 00:01:31,600
Speaker 2: indicates that sector is still in tough times. It's still contracting.

31
00:01:31,880 --> 00:01:34,080
Speaker 2: And you're right, if we combine the services index with

32
00:01:34,200 --> 00:01:39,240
Speaker 2: that more positive manufacturing index last week, we're starting to

33
00:01:39,240 --> 00:01:43,160
Speaker 2: get to the point rund where we're getting some positive indicators.

34
00:01:43,520 --> 00:01:46,000
Speaker 2: The combo of the two suggesced we get economic growth

35
00:01:46,000 --> 00:01:46,800
Speaker 2: starting to come through.

36
00:01:47,720 --> 00:01:49,640
Speaker 1: Right, We're looking very busy week for mark and we're

37
00:01:49,640 --> 00:01:51,840
Speaker 1: both here and internationally as well. What are you looking

38
00:01:51,840 --> 00:01:55,279
Speaker 1: for that in video result will be good, Yeah, that will.

39
00:01:55,160 --> 00:01:57,160
Speaker 2: Be a really important way. So we've gone into this

40
00:01:57,160 --> 00:02:00,160
Speaker 2: week pretty nervous markets for pretty weak last week in

41
00:02:00,160 --> 00:02:03,920
Speaker 2: inconductor manufacturer and videos results out Wednesday in the US

42
00:02:04,480 --> 00:02:07,800
Speaker 2: Thursday morning, New Zealand Time and that it provides some

43
00:02:07,880 --> 00:02:11,200
Speaker 2: real fuel for this AI investment theme. As I said

44
00:02:11,280 --> 00:02:14,200
Speaker 2: last week, the US share markers were dragged down by

45
00:02:14,280 --> 00:02:17,160
Speaker 2: this tech sector. So really important that in video comes

46
00:02:17,200 --> 00:02:19,440
Speaker 2: out with an okay sort of an update. In fact

47
00:02:19,480 --> 00:02:20,880
Speaker 2: day is probably not going to be enough, will have

48
00:02:20,960 --> 00:02:23,760
Speaker 2: to be a good update. We've also got the reopening

49
00:02:23,840 --> 00:02:27,000
Speaker 2: of the US government data coming through other shutdowns closed

50
00:02:27,440 --> 00:02:30,639
Speaker 2: from shutdowns open, I should say, so this will give

51
00:02:30,680 --> 00:02:34,440
Speaker 2: us some more information as to whether there's inflation data

52
00:02:34,480 --> 00:02:37,320
Speaker 2: that stops the US Federal Reserve from cutting rates, remembering

53
00:02:37,760 --> 00:02:40,720
Speaker 2: the markers expecting the feed to keep cutting rights by

54
00:02:40,720 --> 00:02:44,160
Speaker 2: about three quarters of a percent. And so on Thursday

55
00:02:44,280 --> 00:02:46,639
Speaker 2: in the US Friday morning zeon time, we'll get the

56
00:02:46,840 --> 00:02:51,680
Speaker 2: job data out from September. Consensus is for eighty thousand additions.

57
00:02:52,360 --> 00:02:55,120
Speaker 2: The risk is it's either too hot so the Fed

58
00:02:55,200 --> 00:02:59,920
Speaker 2: doesn't cut. And then locally, we've got nine companies producing profities,

59
00:03:00,200 --> 00:03:04,280
Speaker 2: including companies like Sanford, Circo, Napier, port Oceania in seven

60
00:03:04,360 --> 00:03:08,120
Speaker 2: companies filding and engaging our meetings Precinct A two, Goodman,

61
00:03:08,400 --> 00:03:11,040
Speaker 2: Sky Telly. The big ones key question for investing is

62
00:03:11,040 --> 00:03:13,519
Speaker 2: going to be are the green shoots crowing. Are we

63
00:03:13,560 --> 00:03:16,360
Speaker 2: actually seeing them turn into a decent jesy crop?

64
00:03:17,480 --> 00:03:19,440
Speaker 1: We want to see plenty of green Shaine. Thank you, Shane.

65
00:03:19,480 --> 00:03:22,200
Speaker 1: Sally Harbor a sit management with us tonight. For more

66
00:03:22,320 --> 00:03:25,600
Speaker 1: from Hither Duplessy Allen Drive, Listen live to news talks

67
00:03:25,639 --> 00:03:28,800
Speaker 1: it'd be from four pm weekdays, or follow the podcast

68
00:03:28,960 --> 00:03:29,919
Speaker 1: on iHeartRadio