NAB Morning Call
No news, good news
Mar 17, 2025
Taylor Nugent, an economist at NAB, shares valuable insights on US retail sales and the economic landscape. He discusses February's retail sales, revealing that beneath the surface, consumer spending fears may be overstated. The conversation also covers the volatile Empire State Manufacturing Index and the cautious optimism stemming from housing market indicators. Nugent touches on Australia's stable growth and China's strategies to boost consumer spending, while also hinting at the geopolitical implications of potential talks between Trump and Putin regarding Ukraine.
14:29
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Quick takeaways
- Equities are rising in both the US and Europe due to a lack of negative news, reflecting a sense of stability in markets.
- Despite weaker retail sales growth in the US, underlying positive trends are emerging, indicating potential for future economic stabilization.
Deep dives
Equity Market Trends
Equities in the United States are experiencing positive movement, attributed to a relative lack of distracting news, particularly regarding tariffs. On the day, the US dollar has seen a decrease while most currencies, including the Australian and Canadian dollars, have appreciated. Major stock indices closed higher, with gains reflected in both the Nasdaq and S&P 500, despite some declines in the final trading hour. This upward momentum is further echoed in European markets, which have also posted increases, indicating a broader sense of stability in the equities landscape.
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