AUS Reporting season: Gathering Steam... | US GDP: Higher... | Falling Oil Prices... Positive For the Consumer |

Good Morning, And Happy Friday… Overall, it has been a fairly good week on markets, but we are certainly looking forward to the weekend… before a “jam-packed” reporting season officially gathers steam… Last night, US GDP came it higher than estimates (2.3% vs. 2.0%) and it is the weak oil price that is certainly helping consumers… Think of the falling oil price as an “interest rate cut”… US consumers are now saving significant amounts of earnings, due to falling transportation costs…. And this is helping to lift consumer confidence and retail spending… In AUS, we will be monitoring our GUD position today and looking at the core portfolio, leading into next week… Stocks in focus Air New Zealand's shares have underperformed relative to Qantas Airways amid fears it faces increasing competition on some of its most profitable routes. Bell Potter says in general it expects good earnings growth from most of technology, media and telecommunications stocks it covers when they report results next month. The SPI is pointing to a 10 point fall this morning