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Speaker 1: Bloomberg Audio Studios, Podcasts, radio news, single best idea seven

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Speaker 1: conversations Today Today was incredibly strong given the news flow,

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Speaker 1: just absolutely extraordinary. Eric Wasson of Bloomberg and Washington was

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Speaker 1: just absolutely lights out about what now for Washington and

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Speaker 1: our fractured political process. We thank Eric Wasson on a

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Speaker 1: huge schedule issues with the twenty four to seven Washington

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Speaker 1: News for being with us as well. Sam Stove all

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Speaker 1: over CFRA talking bubbles in the stock market really quite good.

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Speaker 1: He's enthused. He's looking for higher prices, not like what

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Speaker 1: we heard yesterday on S and P five hundred, going

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Speaker 1: from sixty eight hundred to seventy seven hundred according to

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Speaker 1: Infrastructure Associates, CFRA looks for seventy four hundred, a little

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Speaker 1: less aggressive number out nevertheless optimistic. But then you have

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Speaker 1: to know where the GDP statistic is. Tiffany Wilding doesn't

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Speaker 1: know where that is. Here's Tiffany Wilding, a PIMCO.

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Speaker 2: The shutdown will absolutely impact fourth quarter growth. We think

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Speaker 2: that one one to one and a half percent is

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Speaker 2: what it could shave off of the fourth quarter. So

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Speaker 2: we absolutely could see a negative fourth quarter GDP print.

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Speaker 2: But nevertheless, as the government has already reopened, that activity

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Speaker 2: will come back online and you'll see an offsetting pickup

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Speaker 2: in the first quarter of next year. I think the

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Speaker 2: other thing to keep in mind in the first quarter

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Speaker 2: is that you're also going to get refund checks to

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Speaker 2: households that are quite large this year, so that will

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Speaker 2: provide also some support to the economy and to consumption

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Speaker 2: in the first part of next year.

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Speaker 1: That is a reoccurring theme. Let's pause for that, Tiffany

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Speaker 1: Wilding mentioning refund checks of some type. There was legislation

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Speaker 1: in the distant pass of sixteen months ago, guessing and

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Speaker 1: that legislation, to many of our guests is nothing more

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Speaker 1: than stimulus. There's an overlay out. I think of Alicia

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Speaker 1: Levine at BNY mel And talking about the overlay of

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Speaker 1: legislative impulse of stimulus into the American economy. That's one

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Speaker 1: of the cross currents here, all wrapped around, of course,

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Speaker 1: thisnknown unknown of technology and AI, and I'm using AI

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Speaker 1: more and more each and every day. My favorite people

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Speaker 1: ask me what am I using at Bloomberg. I'm using

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Speaker 1: a lot of Google Gemini. That seems to be what

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Speaker 1: we're circling around here. We've got other things as well,

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Speaker 1: and you know, on my phone and such, I use perplexity.

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Speaker 1: Thank you to Tom Sekunda, one of our founders, who

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Speaker 1: said to me, shut up. Tom used perplexity, and I'm

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Speaker 1: really enjoying it's making me smarter and better each and

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Speaker 1: every day. We were smarter and better at the start

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Speaker 1: of the show today from Atlanta. Really excellent. I need

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Speaker 1: to take a moment here. Keith Lerner is a trust

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Speaker 1: and what's so important about what he brings to the

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Speaker 1: conversation is he has degrees with a Chartered Financial Analyst

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Speaker 1: and the Market Technicians CMT designation as well. So this

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Speaker 1: is someone that dovetails in fundamentals and technicals into his analysis. Forward.

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Speaker 1: Keith Lerner on the view forward.

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Speaker 3: What we try to do to try to keep it

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Speaker 3: simple and focus primarily on the trends, the primary trends.

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Speaker 3: So I try not to do like all the crazy stuff.

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Speaker 3: What really matters, cut to the noise, and what matters

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Speaker 3: to me as I look at the global pictures, we

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Speaker 3: have a global rally underway. We have ninety percent of

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Speaker 3: ninety percent plus of global markets in uptrends above the

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Speaker 3: twenty day movement average. And thinking about yesterday, we're seeing

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Speaker 3: like maybe tech takes a little bit of a breather.

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Speaker 3: There's rotation to other areas, and we have the EFI

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Speaker 3: Index making a new high, Emerging markets close to an

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Speaker 3: all time high as well. So I think the primary

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Speaker 3: trend is positive, and I think the main message is

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Speaker 3: you have to continue to give that primary trend and

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Speaker 3: the benefit of the doubt.

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Speaker 1: Keith Lerner with Truest of Atlanta and of course across

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Speaker 1: the nation as well, on your podcast on Apple, on Spotify,

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Speaker 1: on YouTube podcasts. Its single best idea