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Speaker 1: Shane solely harbor asset management is with us.

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Speaker 2: Hello Shane, Hello Heather.

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Speaker 1: Okay, what do you reckon? Look at this this economic

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Speaker 1: data out last week. Do you think that we get

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Speaker 1: cuts in the US?

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Speaker 3: Yeah? Look in the US, we're on track here, there

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Speaker 3: are business Some inflation data out last week doesn't really

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Speaker 3: alter the head reserve rate cuts path, but it does

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Speaker 3: give them a bit more ammunition. The key points that

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Speaker 3: came out last week was this thing called the Personal

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Speaker 3: Consumption Expinger PC. That's the Fed's key inflation indicator. Watch

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Speaker 3: came out at zero point three for the month for June.

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Speaker 3: It's pretty much in line. And then we had a

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Speaker 3: Michigan consumer syre. You're going to go who he is?

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Speaker 3: The key thing was there? Importantly, they talked about inflation

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Speaker 3: expectations for the five to ten years dropping to three

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Speaker 3: and a half percent.

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Speaker 2: Again still high, but not as high as it was.

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Speaker 3: So this is sort of opening the door for the

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Speaker 3: Fed to cut by zero point to two five of

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Speaker 3: dissent taken into four twenty five to four point five

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Speaker 3: this Friday. However, Heather, we have the non farm payrolls

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Speaker 3: number that would be really important as an indicat as

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Speaker 3: to how hard the FED goes.

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Speaker 1: Now, what happened to the video share price on Friday?

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Speaker 2: Yeah, interesting one. It was three just out of three percent,

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Speaker 2: three point three percent, a little bit of.

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Speaker 3: A soft result. Last week it was okay, not quite

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Speaker 3: as good as people wanted to build. Really, what had

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Speaker 3: it was a news that Ali Barber, the Chinese tech company,

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Speaker 3: has developed a new chip. It's compatible with the videos platform. Indead,

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Speaker 3: if the reports are right, then engineers can repurpose programs

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Speaker 3: they wrote for video chips for use with Ali Barber chips,

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Speaker 3: and then that means it's more competitive.

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Speaker 2: For this growing demand for artificial intelligence. So yeah, we

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Speaker 2: saw the in video share price. It's come off.

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Speaker 3: It's all time high of one hundred and eighty three

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Speaker 3: dollars US closed it one hundred and seventy four dollars

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Speaker 3: US down three point three percent, still forty eight percent.

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Speaker 2: High than it was a year ago. So a little

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Speaker 2: way to go before we're going to have to really

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Speaker 2: get worried about it.

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Speaker 1: Yeah too, right now, Chinese economic data came out in

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Speaker 1: the last few days as well. Looking at that, what

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Speaker 1: are you thinking about our economy?

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Speaker 3: Well, the key thing was it was okay, okay, suggesting

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Speaker 3: overall that the broader purchasing manager and this is the

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Speaker 3: composite one purchasing manager of this is is a lead

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Speaker 3: indicative of economic activity, was above fifty. It was at

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Speaker 3: fifty point five. It's above fifty. It means the economy expanding.

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Speaker 3: But the devil was in the detail, the manufacturing part

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Speaker 3: of the purchasing managegacy that was a below fifty was

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Speaker 3: at forty nine point four and slip back, so it

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Speaker 3: means manufacturers not as positive on growing.

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Speaker 2: That was the non manufacturing part that was positive.

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Speaker 3: So good for our businesses that are perhaps providing services

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Speaker 3: or things that are consumed by you know, service parts

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Speaker 3: of the Chinese economy rather manufacturer.

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Speaker 2: But nonetheless kind of helpful.

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Speaker 1: Yeah, good stuff, Shane. Always good to talk to you.

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Speaker 1: Talk to you next week, Shane, Sally Harbor, Asset Management.

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