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Stocks Under Pressure 8/8/23

Halftime Report

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The Downgrade of the US Bank Corp.

This is old news and this should have come out in the first quarter when we had the debacle with the banks. I think what you're just seeing is a short-term reaction where you probably have a bunch of the computer funds algorithms selling short on the financials. The sector did really well last month, it was up 9%. That's because earnings came in much better than expected.

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