Episode 635: The DC Today - Wednesday, June 7, 2023

Today's Post - https://bahnsen.co/3Joqzf1

Big rally in Energy and Real Estate today even as other markets stalled and reversed.

The media world went into a trance this morning before the market opened on the news that CNN’s CEO, Chris Licht, had been fired. Though not much of a market story, it distracted everyone for the day and allowed it to be a mostly boring day in the world of financial media.

As expected, Mike Pence, Chris Christie, and Doug Burgum (billionaire Governor of North Dakota) have all entered the Presidential race this week, vying for the Republican nomination. Add them to the list that includes Donald Trump and Ron DeSantis as top candidates and then Nikki Haley and Tim Scott, and you have basically 7-10 total candidates, two of which poll high, three of which poll a little, and the rest of which poll basically not at all. It’s going to be a wild summer. And I am sure at some point, I will have to talk about it more in terms of policy and market implications, but we are nowhere near that point yet. For now, my forecasts are rather simple: I am dubious that Joe Biden will end up being the Democrat nominee; I am highly dubious that former President Trump can win a general election; and I believe there is a candidate or two who could beat President Trump for the Republican nomination, but am as unsure as anyone else as to whether or not that will happen. There are so many wildcards out there right now; predictions are a fool’s errand.

Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com