Cramer's Morning Take: Debt Ceiling Deal & China 5/30/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 30 May 2023
⏱️ 3 minutes
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| 0:00.0 | Hey, it's Kramer, and this is my morning take on the market from today's CNBC Investing Club morning meeting. |
| 0:07.0 | Over the weekend, we got some lawmakers reaching a tentative deal. |
| 0:11.0 | Now, I have to tell you, as I said this morning, once I walk on the street, there still could be dropped. |
| 0:16.0 | I mean, we know we got till June 5. We know that the hardliners on both sides want to really show that they hate the deal. |
| 0:21.6 | Maybe they do that by vote. Maybe they do that by stall. |
| 0:25.6 | But just be out there to remember that the six-month piece of paper and three-month piece of paper still reflected to be right down. |
| 0:32.6 | And perhaps why also no big rally on the tentative news? |
| 0:35.6 | I think the market has kind of taken the headlines thus far in stride, right? |
| 0:40.3 | We never really got that big, you know, call it 5% pullback on the uncertainty. |
| 0:46.3 | Right. |
| 0:47.3 | But this is that tepid thing that would indicate that there still could be one more vote. |
| 0:51.3 | Well, yeah, especially if you look at the Dow, which is Dow. The Dow's reflecting China and global recession. Thank you to Matt Horwine. I was going back and forth within one of our advisors, who was saying, Jim, don't you understand that all the Dow is related somehow to China? And you have the Nike in there. You have Caterpillar, which is beyond. So just be aware, I mean, S-T order, by the way, is not in the Dow, but that's down because of China. |
| 1:14.6 | Yeah, when stock is down today. |
| 1:17.6 | I know. |
| 1:18.6 | Maybe you're getting interesting, under 100. |
| 1:19.6 | Yes, especially because there was a terrific article about how there's been emphasizing the bigger ticket blackjack. |
| 1:25.6 | And by the way, I mean, you know that they're all sold out everywhere. |
| 1:31.8 | Oh, absolutely. |
| 1:32.3 | They can raise ticket prices. |
| 1:33.4 | They can rate room. |
| 1:34.3 | Yeah, Vegas is, of course, going very strong Boston as well. |
| 1:40.4 | Macau, it has been very strong. |
... |
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