The DC Today - Tuesday, July 11, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 11 July 2023
⏱️ 6 minutes
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Summary
Today's Post - https://bahnsen.co/46Mbde0
Markets today rallied even with all eyes on tomorrow’s CPI number. Three Fed governors have doubled down on the need for more rate hikes in the last 24 hours.
China is releasing a wide array of policy support measures to support its floundering property market and construction industry.
Warren Buffett/Berkshire Hathaway has taken a 75% interest in one of the country’s major LNG export facilities (liquefied natural gas). For those keeping track, we only have seven operational facilities in the country that can currently export LNG.
There is a longer-than-normal answer in Ask David today because the question was a very thoughtful one. Check it out below!
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:14.7 | Well, hello, and welcome to the Tuesday, D.C. today. A big rally day in markets, and I'm just going to cover kind of the quick highlights |
| 0:22.2 | as I'm getting ready to go into a meeting, but I would have expected a more tame day the day |
| 0:27.5 | before CPI. So some conspiracy theorists might say, well, perhaps they've already leaked the CPI is going to be |
| 0:34.0 | really weak and that's going to bring on the bulls. Others may just say that there were traders setting up positions today in front of the CPI move today. |
| 0:44.5 | Who knows it's entirely possible the rally continues tomorrow. |
| 0:47.5 | It's entirely possible we flatlined. |
| 0:49.6 | And of course, it's possible we give everything back. |
| 0:51.6 | But these days there has been a lot of back and forth |
| 0:54.4 | volatility. This is an underlying theme of what we've predicted for some time. A lot of moves up, |
| 1:00.1 | a lot of moves down. And in the end, not a huge secular direction one way or the other. This is the |
| 1:06.1 | kind of market we're in. It is the kind of market we've been in. And being up 400 points in a couple days and being |
| 1:13.6 | down or 400 points last week in a day or two, that's the back and forth reality of the market that we're in. |
| 1:20.8 | So yes, tomorrow the CPI number for the month of June will come out. Today, the NFIB Small Business |
| 1:27.0 | Optimism number came out. It's not what moved |
| 1:29.6 | markets today. It's not a big enough deal to do so, but it did reach a seven-month high, |
| 1:35.3 | and there is a little surge of confidence coming about from small businesses that certainly has to be |
| 1:43.3 | taken into account. |
| 1:45.6 | A couple other news tidbits that are not real relevant to the market. |
| 1:48.8 | And then I'll give you the recap of today's market day. |
| 1:53.6 | A lot of stuff coming out of China, I'm finding more and more interesting that some of the |
| 1:58.5 | policy measures they're going to to support their property market, |
... |
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