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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If he (Rove) was forced to step down, it would be a pretty big blow to the Bush administration. A weakened Republican president who is seen as pro-business could raise some concern.
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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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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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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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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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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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Apple true believers are going to hammer this a thousand different ways on the details, but it caught the essence of Jobs and Gates,
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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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We work on a case-by-case basis but sometimes the emergencies involve more people than we can accommodate and are more expensive.
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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.
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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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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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People are expecting that Libby will be indicted and Rove will continue to be investigated. That may have contributed to the weakness of the close yesterday. Obviously it is not positive for the Bush administration and may be weighing on equity markets,