Devon Funds Management Market Update

Devon's Head of Retail Greg Smith talks to Mike Hosking about the rally in the US markets, led by Apple, which had its best session in years after its earnings report . At the other end of the spectrum he discusses why Amazon shares were under selling pressure as guidance disappointed.

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Devon Head of Retail Greg Smith talks to Mike Hosking about another strong session for the US markets, the third in a row, and what is driving this. He also reviews the situation in the UK where the new PM has warned of tough times ahead, and a big locally listed bank has put through some large loan provisions. Closer to home he looks at why Ampol shares tanked despite what looked like a strong result from the Z petrol stations owner on the face of it.

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Devon Funds Head of Retail Greg Smith talks to ZB’s Mike Hosking about the continued rebound in US markets in recent days and what’s been driving it. He also looks at the reaction in the UK to Rishi Sunak’s impending appointment as PM. Back in Asia he looks at why Chinese markets have fallen sharply despite GDP numbers surprising on the upside.

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Devon Head of Retail Greg Smith talks to Mike Hosking about the strength in US bank share prices at the end of last week following a flurry of results from the sector, and what this all means for the outlook. Also up for discussion are latest set of inflation numbers from China, which remain low by global standards. At home he outlines how the weather has played a part in Fonterra reducing milk collections forecasts, and an earnings upgrade from Genesis Energy.

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Devon's Head of Retail Greg Smith talks to Mike Hosking about the market's reaction to a strong US jobs report on Friday. He also discusses whether we should be concerned around a profit warning from Samsung, and whether the recent hype around cannabis stocks is justified.

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Devon Head of Retail Greg Smith spoke to Tim Dower at Newstalk ZB about the latest hot inflation numbers in the US and Europe, and what this means for the next moves by the respective central banks. He also discusses the reaction to two results from the retail sector - Nike in the US, and the somewhat less well-known name globally in Hallenstein Glassons.

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Devon Head of Retail Greg Smith speaks to Mike Hosking about the heavy fall in FedEx’s share price and what this means for the broader economic outlook. He also looks at a number of better-than-expected data prints out of China. Back home he discusses whether there is any substance to the speculation that Air New Zealand and Virgin Australia’s owner have held talks about a merger between the two airlines.

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In a week where a hot inflation number has unnerved investors, Devon Head of Retail Greg Smith spoke to Mike Hosking about a better-than-expected retail sales print in the US. He also recaps how the New Zealand economy has avoided a recession in strong fashion, and discusses the job numbers across the Tasman which may complicate matters for the RBA’s next meeting.

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Devon’s Head of Retail Greg Smith speaks to Mike Hosking about the stability in US markets overnight and looks at the reasons that global coffee chain Starbucks is surging higher. He also discusses some good news on the inflationary front in the UK, and a strong result from pandemic beneficiary Briscoes back home.

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Greg Smith talks to Mike Hosking about the implications of a hot inflation print in the US which has driven a market sell-off. He also discusses the soaring price of food in NZ, with a silver lining for our exporters, and breezes through Mercury's plans for a wind farm near Gore.

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