Devon Funds Management Market Update

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about what drove the US market lower on Friday, with results from a big bank not well received. He looks at some positives across the Atlantic with the UK economy seemingly out of recession and German inflation falling. On that note, ahead of this week’s CPI print, he discusses some good news on kiwi food prices.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about what drove the surge in Fisher & Paykel Healthcare’s share price on Friday. He also discusses the very differing reactions to results from Nike and FedEx in the US, both of which are seeing demand normalising in a post Covid world and amidst a slowing economy.

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Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about why US markets took another breather last week, and what the Fed is likely to do this week. Back home he discusses the latest read on the kiwi manufacturing sector ahead of this week’s GDP print. He also looks at whether travel is still running hot, with the latest numbers from Auckland Airport.

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Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about “the good and the bad” from the latest jobs numbers in the US, and whether things are going to plan for the Fed. Closer to home he looks at why the banking sector has driven the Australian stock market to record highs.

For more market insights and our terms and conditions, visit www.devonfunds.co.nz

Devon Head of Retail Greg Smith speaks to ZB's Mike Hosking about why Japan's stock market has been the best performing globally. Closer to home he discusses Australia's economy which appears to be coming off the boil while NZ's trade deficit has been helped by kiwis buying less, with import volumes falling.

Devon Head of Retail Greg Smith talks to ZB's Mike Hosking about the latest surge in tech stocks which has seen the Nasdaq breach a record high previously made in November 2021. He also discusses what is driving Daimler Truck higher, with the world's largest commercial vehicle manufacturer delivering a "red hot" year. Back home he assesses whether there is any cause for positivity amongst kiwi consumers in the latest consumer confidence read.

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Devon Head of Retail Greg Smith speaks to ZB’s Mike Hosking about the latest US inflation numbers with the Fed’s preferred inflation gauge coming in at the highest level in a year. He also discusses the retail sector in Australia, with retail sales rebounding last month and Harvey Norman upbeat about the outlook despite a slide in first-half sales. Back home he considers whether the glass is getting any “fuller” following the latest ANZ Business Outlook update.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about the RBNZ’s less hawkish-than-expected announcement on the OCR. He also discusses results from Spark, Meridian, and a star showing from cinema software group Vista. Across the Tasman he looks at the Aussie monthly inflation print which has come in much lower than expected.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about differing reads on the consumer, with AfterPay owner Block coming in with a strong result, whilst kiwi retail spending has fallen for the 8th quarter in a row. He also discusses how a reduction in spending has also been felt at the country’s largest port, which has seen a sharp fall in imports.

Devon Head of Retail Greg Smith talks to ZB's Mike Hosking about why investors have responded positively to the news that the UK and Japanese economies have slipped into recession. Back home he casts his view on the implications of strong net migration figures which have come in at a record for the 2023 calendar year.

For more market insights and our terms and conditions, visit www.devonfunds.co.nz