Wednesday 23rd July 2025

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Tech earnings will be a focus of the week, with Tesla, IBM and Alphabet a day away now. But markets have responded favourably to earnings results so far, including a strong result from Coca Cola. But, as NAB’s Tapas Strickland points out in today’s podcast, it was a different story for GM, who took a hit on their income to absorb the cost of tariffs on imported cars and parts. Meanwhile a new trade deal with the Philippines provided further evidence that any country wil be lucky to get away with the original Liberation Day 10 percent baseline. Tapas also picks the bones on the latest RBA minutes, which highlighted how the central bank is treading cautiously because it is uncertain of the terminal rate.

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