. >> let's welcome michael field today at morningstar. let's pick up with ab food.he stock is up more than 4% today. they raised profit for the year. what we have seen is resilience in the consumer despite higher interest rates and cost of living crisis and higher mortgage costs. how long can that last in your view? >> it is a difficult question. this is at the center of the point that you made with the ecb and rates decision. how much more pain can consumers go through and still have anything left in the wallets to spend. you mentioned primark. that is an interesting example. one strategy they had this year was to keep the prices flat and not try to increase them and absorb increased costs they have felt which led to the margin pressure. that's the difficult decision that a lot of businesses are facing at the moment. >> what is the best model within the consumer space right now? as you said, if you keep prices low, you maintain volumes and sacrificing margin. what is the sweet spot from the investment perspective? >> i think one sweet spot and one that investors pi

let's explore this more with allen good, who's director of equity research at morningstar.saudi arabia are saying one thing, what is the reality of how this spike in prices is going to affect not only inflation but global markets as well? . , , ., ., , well? the reality is that demand is stronu. in well? the reality is that demand is strong- in the _ well? the reality is that demand is strong. in the us, _ well? the reality is that demand is strong. in the us, or— well? the reality is that demand is strong. in the us, or europe, - well? the reality is that demand is l strong. in the us, or europe, where the economy is a bit weak, or even china where there is a lot of concern, the fact of the matter is that demand is strong. with saudi arabia cutting back supply, it has created market tightness, so even though you do have concerns about the health of the economy globally, currently, oil demand is strong and we are in short supply, and that is going to send prices higher. the concern is _ going to send prices higher. the concern is in _ going to send prices higher. the concer

morningstar's u.s.t david wison hopping in the chair to tell us what a work stop stoppage could mean. closing bell, 26 the minutes away. we've got the dow jones industrials still up about 341 points. we are coming right back, and we're talking about the very latest breaking headlines in the potential uaw strike. ♪ ♪ hi, i'm todd. i'm a veteran of 23 years. i served three overseas tours. i love to give back to the community. i offer what i can when i can. i started noticing my memory was slipping. i saw a prevagen commercial and i did some research on it. i started taking prevagen about three years ago. i feel clearer in my thoughts, my memory has improved and generally just more on point. prevagen. at stores everywhere without a prescription. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ >> tech: cracked windshield on your new car? bring it to safelite.

more than a decade, my guest manages the largest pool of fixed income assets in the world and morningstar'sutstanding portfolio manager at 2023. blackrock global fixed income cio rick rieder joined me now. you want to be an outdated portfolio manager if you get around that much money. >> is a lot of hard work. it's been an incredible. in rates. >> since last time you came on the show things have proceeded in the direction that you said they would do update us what is your view on the economy can we ended we dodged a recession. >> this far, i think the u.s. economy is most resilient adaptive reflexive economy in the world it's incredible how it just a service oriented economy is different than 20 or 30 years ago. i think the economy is doing better than people into zepeda. the one thing today may be slowing a bit but as i think people have underestimated how strong this economy can be. >> you call it the polyurethane economy and you noted the absolute numbers of jobs created are phenomenal, go into that. >> i call it polyurethane think about how it bends in a just and reflective. if you take

dan kemp is global chief investment officer at morningstar investment management.. talk us through this move on the part of saudi arabia and russia. the interesting timing. we have seen the price of oiljump in response. seen the price of oil “ump in response. hello, sally. yes, ou're response. hello, sally. yes, you're right- _ response. hello, sally. yes, you're right. it— response. hello, sally. yes, you're right. it is— response. hello, sally. yes, you're right. it is interestingi you're right. it is interesting timing. we havejust reached the end of what we call the us driving season and this is a period where folks in the us jump period where folks in the us jump in their cars, go off on vacation, and that tends to drive high demand over the summer months. we are entering a period where demand tends to be quieter before we get into the northern hemisphere winter. so you are right, the timing of the cuts, or the renewal of the cut, i should say, is not an accident. it comes at a time when prices are normally expected to be a bit lower as we rebuild inventories

my guest manages the largest pool of fixed income assets in the world and his morningstar's outstandingobal fixed income ceo rick rieder joins me now. thank you, rick. you want to be an outstanding portfolio manager? if you're going to run that much money it is. it's a lot of hard work. i will say it's been it's been an incredible period rates. exactly so since the last time you've come on the show, things have proceeded pretty much in the direction you said they would. but update us. what's your view on the economy? can we did we dodge recession? so that's far. i mean, i listen. i think the economy u. s economy is the most resilient, adaptive , reflexive economy in the world. it's incredible how it adjusts its. it's a service oriented economy is different than 2030 years ago, and i think the economy is doing better than people anticipated . the one thing i will say today, though, maybe slowing a bit, but i think people have have underestimated how strong this economy can be. you call it the polyurethane economy, and you've also noted that the absolute numbers of jobs created are phenom

joining me now is mike coop, chief investment officer at morningstar. good morning to you.rning to you. i'm 'ust wondering, we are i good morning to you. i'm just wondering, we are expectingl good morning to you. i'm just| wondering, we are expecting a speech, expecting rishi sunak to outline how the government expects to reach its net zero target by 2050 which it says it is still committed to. do you think those in some industries like the car industry might be breathing a sigh of relief at the relaxation of some of these targets? it the relaxation of some of these taraets? , ., ., ., targets? it is a realtrade-off the government _ targets? it is a realtrade-off the government is _ targets? it is a realtrade-off the government is having - targets? it is a realtrade-off the government is having to| the government is having to decide hero. in terms of short—term versus long—term. certainly it will make it easier if some of these targets are pushed out to later dates in terms of continuing to sell petrol and diesel cars, operating the existing bonds we have got. there are con

i suppose an upgrade from morningstar.atulation -- we are waiting for the big three to -- respond. talk to us about the sustainability of that? a lot of the u.s. and european banks are trying to predict the next recession which is going to take a hit to tourism and by extension, the growth that has been feeling a lot of the gains in greece. how do you deal with something like that? when are you predicting this to end? >> this economy has been diversifying for some time now. if you look at manufacturing, it is up by about a quarter. german manufacturing has declined. it is not true that the economy is highly dependent on tourism. we saw that even during the covid years where things turned out better than many had expected. this was very important. this puts closure on the chapter that lasted 13 years for great prices. it is something we are very proud of and i should say we are going to stick with our fiscal targets. this is a commitment i commit to you today. the national disasters will not affect our fiscal prudence, our

according to morningstar, more gfc funds closed this year than the previous three years combined. esg funds first half of this year than put into them. this is clearly a response, i think, to the difficulty of threading the needle on esg, number one. two, some of the political controversies that have surrounded the idea of ethical or esg investments. >> indeed. can we skip ahead to taylor swift? >> yes. >> do it. cashed in this summer by reselling tickets to taylor swift's "eras tour" brace yourself to pay taxes. a new law requires ticketing platforms like ticketmaster and stubhub give the irs information on those who sold more than $600 worth of tickets. average sold, $1,095. >> to a ticket to see taylor. >> on average. best seats going for thousands. this $600 thing, more and mere people realizing the things is a get them in trouble with irs. >> pay income tax on the money collected by selling your taylor swift tickets? >> i guess. at game? >> the basis? how much i paid -- >> yeah. >> well -- >> watch the concession workers. i don't have time for that but wrigley field concessio

fascinating conversation with the director of asia equity research at morningstar.movers. was going on? -- what's going on? >> keep an eye on the energy market in particular, we have brent crude coming online, we are seeing it sit above $90 a barrel. that was after saudi arabia and russia extended their supply cuts until the end of the year. saudi arabia's going to continue its you let admiral production cut back of -- unilateral a production cut back until december. russia set its export reduction of 300,000 barrels a day will be extended for the same duration. the volume of the cuts wasn't largely expected by traders but is the duration that's caught some of guard. it's the prospect of further tightening in the global energy markets that traders are watching closely. we are watching big energy producers in asia at the start of the day. we had woodside and santos coming online. moving to the upside. let's take a look at one of the sector most sensitive to energy prices, the aviation one. airlines, a little bit mixed with trading underway in asia. we saw big moves i