Welcome to Midday Report essentials. In this episode: A loaded gun has been found in a backpack in a child's bedroom during Operation Phoenix - a large scale meth bust - we spoke with police for more details. Space X is set for launch in the world's biggest ever IPO: we spoke to Fisher Funds chief investment officer about the dangers of highly concentrated exposure to AI companies. Finally, we were live at Field Days with business editor Corin Dann who has new numbers on the booming rural economy .