NAB Morning Call US hope, UK fears, Aussie CPI
7 snips
Nov 25, 2025 Rodrigo Cutrille, a market commentator from Sydney, delves into the dynamics of global markets. He highlights the rise of US equities driven by Alphabet's new AI chip while discussing the dip in consumer demand reflected in September retail sales. The conversation shifts to mixed inflation signals concerning producer prices and their implications. Rodrigo also anticipates the RBNZ's interest rate decision and the potential volatility from the upcoming UK budget, providing insights into what these trends mean for investors.
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Alphabet's Vertical AI Advantage
- Alphabet's end-to-end AI stack strengthens its competitive edge beyond chips alone.
- Rodrigo Cutrille notes this vertical position spans chips, models, cloud and driverless units, boosting long-term revenue potential.
US Consumer Demand Is Cooling
- US retail sales cooled to 0.2% in September, signalling softer consumer demand.
- Rodrigo Cutrille and Phil Dobby highlight this as concerning because the US economy is consumer-led.
Mixed PPI Signals
- Producer prices rose 0.3% with core PPI easing to 2.6%, the lowest since July 2024.
- The hosts call this mixed data but see the core decline as encouraging for inflation pressures.