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Speaker 1: Greg Smith, Devon Funds Management. Good morning to you, Greg,

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Speaker 1: Morning to you, Heather. All Right, got a strong jobs

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Speaker 1: reported in the US, have we yeah, very strong? Helped

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Speaker 1: the S and P five hundred a new record high

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Speaker 1: on Friday. So the year's economy created two hundred and

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Speaker 1: twenty seven thousand non farm jobs in November. That was

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Speaker 1: above estimates of turn fourteen thousand, big surge on the

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Speaker 1: previous month actually, although they had been affected by the

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Speaker 1: hurricanes and strike action at Boeing Job Grove for October

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Speaker 1: that was actually revised up as well to through sixery

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Speaker 1: from twelve thousand. September's payroll count was also revised upwards.

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Speaker 1: Just looking at things in November, it was a healthkey

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Speaker 1: sector once again, as it often does, drove the job

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Speaker 1: edition to seventy two thousand. The leisure in hospital that

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Speaker 1: was pretty strong, and the government chipped in as well.

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Speaker 1: Just despite the robust data, Heather, of the unemployment rate

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Speaker 1: that actually used up to four point two percent. This

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Speaker 1: is a bit of a contraction. The labor force average

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Speaker 1: all evenings they are up zero point four percent. That

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Speaker 1: was high and expected, So your labor market's still pretty fair. Obviously,

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Speaker 1: come off those pandemic Highso and look, I think on

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Speaker 1: balance the data GA the Federal Reserve the green light

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Speaker 1: to lower rates again in the next week's meetings. The

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Speaker 1: markets are saying is a ninety percent probability of a

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Speaker 1: quarters percent rate cut. So yeah, job market's in good

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Speaker 1: shape and the PIDs probably going to come to the

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Speaker 1: party in the season of driven giving with a pre

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Speaker 1: Christmas rate cut. Gift good stuff, How good is that?

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Speaker 1: And what's going on with the retailers? Ah? So yeah,

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Speaker 1: the retail sect has been a bit of the surprise

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Speaker 1: packet of the in a positive way of the use

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Speaker 1: earning season. We had another instance on Friday, So she

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Speaker 1: is and lou Lemon they are up sixteen percent. The

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Speaker 1: athletic where company beat expectations, They say their upbeat about

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Speaker 1: the holiday season outlook, But if she had a bit

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Speaker 1: of a tough year and things that started to slow

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Speaker 1: in America's it's her largest markets increase in competition. More

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Speaker 1: selective consumers have also had a few botched product launchers

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Speaker 1: this year. Certain now, pastoral colors didn't quite hit the

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Speaker 1: market of shop as it seems, but the yoga pants

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Speaker 1: and the like are flying off the shelves. Internationally, so

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Speaker 1: they turned to China for growth. That's lifted sales across

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Speaker 1: several business So revenues grew just two percent the US,

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Speaker 1: but surged thirty three percent internationally. So overall sales at

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Speaker 1: nine percent two point four billion dollars net income that

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Speaker 1: leapt forty percent throughout fifty two million. The company says

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Speaker 1: it's pleases start of the holiday season. They see sales

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Speaker 1: in the current quarter growing by eight to ten percent,

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Speaker 1: and another retailer doing well. Here there was pet care,

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Speaker 1: so she is I got a great ticker, actually Wolf.

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Speaker 1: They jumped eight percent after a small and expected loss,

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Speaker 1: and revenues of one point five billion dollars also be estimates.

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Speaker 1: So I suppose despite cost of living pressures, people are

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Speaker 1: still spending on their pets globally. These years are up

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Speaker 1: sixty five percent year to day, and just quickly another

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Speaker 1: company are having a good year so far as DOCU signed.

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Speaker 1: So these look after the year ease signatures. They beat estimates.

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Speaker 1: Revenues the current quarter seven hundred and sixty million. I

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Speaker 1: suppose you know a world of AI. We're also we're

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Speaker 1: trying to figure out what's real and what's not. Their

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Speaker 1: services really heading the mark. So they have stringent they

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Speaker 1: meet stringent global security standards, and they use really strong

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Speaker 1: data encryption technology. So she's done well. Actually up ninety

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Speaker 1: percent today. Yeah, and you're full of good news this

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Speaker 1: morning because the Eurozone economy is also expanded, hasn't it? Yeah?

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Speaker 1: Has It's actually coming for a pretty good bit of data. Actually.

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Speaker 1: So this is the third quarter the economy over there

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Speaker 1: expanded by point four percent, and that doubled the previous

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Speaker 1: quarters grow through mainly due to household spending, although high

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Speaker 1: government spending also sort of chipped in. Trade was a

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Speaker 1: little bit weaker. Exports were down one and a half

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Speaker 1: percent on a year on year basis. It was that

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Speaker 1: point nine percent duringily some relative you good news. They

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Speaker 1: narrowly have ordered a recession modest point one percent rebound.

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Speaker 1: Dutch economy decreased. Week of trade also took its toll

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Speaker 1: in Italy, but Spain's economy that was a bright spot,

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Speaker 1: point eight percent. The French economy also grew point four percent,

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Speaker 1: and the luck of the Irish continued. They their economy

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Speaker 1: grew three and a half percent. So look over all,

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Speaker 1: I think on balance this still gives the European Central

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Speaker 1: Bank the green light to cut rates by possibly quarter percent,

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Speaker 1: and they meet later this week. They probably also want

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Speaker 1: to allow for the ongoing political and certainty in Germany

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Speaker 1: and most certainly France. Good stuff, all right, give us

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Speaker 1: the numbers then, yes. The Dow was down point three

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Speaker 1: percent on Friday, forty four sixty four to two s

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Speaker 1: and P five hundred quarters percent sixty ninety. That was

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Speaker 1: a new record high. NASDAK up poort aight percent nineteen

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Speaker 1: eighty five nine. That's also a new record high for

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Speaker 1: the tech Land Index forty one hundred, down half percent

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Speaker 1: in the UK, and the Guy down point eight percent,

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Speaker 1: a SX two hundred down point six percent. Index fifty

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Speaker 1: was down point seven percent twelve eight and zero nine.

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Speaker 1: Commodlies got up a dollar seventy two thousand six and

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Speaker 1: thirty three, and ounce oil down a dollar ten sixty

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Speaker 1: seven spot twenty a barrel in the currency markets, where

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Speaker 1: the key was flat against the eight dollar ninety one

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Speaker 1: point two down on mister percent against the US fifty

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Speaker 1: eight point three, and we're also weaker against Stirling forty

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Speaker 1: five point eight this week. Here that we've got plenty

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Speaker 1: of central bank rate decisions, We've got the Bank of Canada,

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Speaker 1: we've got the RBA, we got the European Central Bank.

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Speaker 1: We've got some US inflation numbers, and there came. We've

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Speaker 1: got agms for Helenstein's and Whispac. Good stuff. Greek, thanks

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Speaker 1: very much, appreciate it. Have a good day. That's Greek

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Speaker 1: Smith of Devin Funds Management. For more from The Mic

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Speaker 1: Asking Breakfast, listen live to news Talks at B from

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