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Afternoon Note

Debt Deal Near

By Charles Payne, CEO & Principal Analyst
5/17/2023 1:00 PM

The market is getting a lift on hopes the debt ceiling deal is near. 

Economic Data  

This morning housing data came in mostly in line with consensus.

The best part of the report is on single family starts and permits. 

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Permits are supposed to be a proxy for future demand. So, it stands to reason it was down but nowhere near the level of pessimism seen in a recent Gallup survey on the best time to buy a house.

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