Michael Malone
Michael Malone
Michael Malone is an American author and television writer, born in Durham, North Carolina. He is best known for his work on the ABC Daytime drama One Life to Live, as well as for his best-selling works of fiction Handling Sin, Foolscap, and murder mystery First Lady...
NationalityAmerican
ProfessionAuthor
CountryUnited States of America
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ISM prices paid came a bit higher than expected and that stoked some inflationary concerns, ... I am bearish on the market right now for two reasons -- the Fed has indicated it's going to keep raising rates and there's been recent evidence that gas prices are beginning to weigh on consumer spending.
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It does appear that they are a bit better than what was expected and that may give a little bit of a lift to the market.
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Given the fact the market rallied very strongly last week we are seeing a bit of consolidation here,
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The market has been languishing for the last couple of days over concern about rising interest rates. But we've seen a little bit of relief there and you've also seen oil prices come off. It still doesn't feel if there is much conviction behind the move.
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These were hardworking people, ... And they plunged in and managed to create great products. Then someone comes along and says, 'Oh no, that was aliens just whispering in your ear, giving you the ideas.'
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Best Buy reported a disappointing quarter and we are seeing a bunch of earnings warnings after Hurricane Katrina, which is not good news. If this continues then it will begin to weigh on sentiment.
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We've been having a tough time raising money locally because major disasters have impeded our attempts to generate money for our own programs and services. The restaurant program last year raised more than $1,200. This year we're hoping we'll reach $5,000.
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The amazing thing about the house is the quality of the craftsmanship. The detail, whether in the woodwork or the glass of the windows, there is infinite detail, things I can constantly appreciate. The other thing is that it is elegant but not formal.
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The PPI numbers support recent evidence that we are in a benign inflationary environment,
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We moved up this morning relatively quickly up against the highs of last week, and that just so happens to be also the top of the range that we've recently been trading in on the S&P. We ran up to those levels and we're seeing a little big of profit taking as a result.
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There is nothing specific to today's market that is driving us higher. If anything bad news has significantly outweighed good news, particularly given Intel.
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You have to be mindful it is not the individuals, it is the structure of the PSC that is failing the people of the Virgin Islands, ... I think the solution is for us as policymakers to bring legislation that will change the structure to make it work.
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Until investors get an idea as to where rates are going to go from here, that's likely to keep a lid on the equity market, even with expectations of strong earnings in the first quarter.
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It's especially important since September 11 for people to be trained for the unexpected. We want to try to make sure people are safe.