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Markets slide while traders wait for CPI inflation data tomorrow

Dow dropped 239, decliners modestly ahead of advancers & NAZ retreated 57.  The MLP index was off 1+ to the 285s & the REIT index went up 2+ to the 381s.  Junk bond funds were little changed & Treasuries had buying which lowered yields after their recent rally to 4 month highs.  Oil slid back to the 85s & gold shot up another 17 to 2368 for a new record.

AMJ (Alerian MLP Index tracking fund)

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Small business optimism dips to lowest level in over a decade

The process of removing shipping containers from the 984-foot-long Dali has begun, but it is expected to take weeks to complete the job, tow the listing ship, & get the Port of Baltimore reopened for marine traffic after the bride collapse which occurred on Mar 26.  7 containers have been removed since Unified Command started the process on Sun to clear up the canal & ultimately reopen for container traffic, a spokesperson for the Key Bridge Response 2024 Joint Information Center said.  The initial goal is to remove 10-12 containers to create a safe working area for the crews involved in recovery efforts for missing workers & removal of debris.  The containers that are being removed are leaning over on the port side of the Dali's bow & pose a risk to crews working in the area.  Unified Command is comprised of Synergy Marine, the management company of the Dali, the Coast Guard, Army Corps of Engineers, Maryland Dept of the Environment, Maryland Transportation Authority & Maryland State Police.  Approximately 140 containers in all are expected to be removed to lighten the Dali so the grounded vessel can be refloated & moved by tugs.  It is expected to take approximately 2 weeks to unload all of the containers.  The first 7 containers were on a single barge & taken to Sparrows Point, the former site of a large industrial complex owned by Bethlehem Steel.  Sparrows Point is a 3100 acre peninsula reaching into Baltimore Harbor.  The JIC said the containers will stay at Sparrows Point until “further disposition is approved and coordinated.” 

Dali container removal will take weeks, a key to Port of Baltimore reopening

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Strong economic data is not reaching small business owners.  That's very disappointing.  Among other problems, inflation is a nagging problem.  Tomorrow the CPI data will be watched by just about everybody.

Dow Jones Industrials 



This post first appeared on VerySmartInvesting, please read the originial post: here

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Markets slide while traders wait for CPI inflation data tomorrow

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