Stuck in a rut over the ditch
Bad news from New Zealand and China. But US equities are behaving as though good times are here. Phil says to NAB’s Rodrigo Catril, it can’t all be enthusiasm over earnings, surely?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 15th October 2024
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New Zealand’s Performance of Services Index stuck yesterday at 45.7 for September, marking the seventh month in contraction. NAB’s Rodrigo Catril says the only good news you can take for that is that it the downturn isn’t speeding up. In China the latest trade numbers were also a disappointment, highlighting the need for a stimulus from the government. In the US equities pushed higher. Phil asks, it can’t all be earnings season, can it? The question is, are some shares buoyed by the return of the Trump Trade, as the former President is experiencing a resurgence with the bookies. Today bank lending for Europe and employment and wages for the UK are the two key bits of data, along with Canadian inflation.
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