Bill O'Grady
Bill O'Grady
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Gasoline consumption fell. That suggests one of two things. First is the economy in worse shape than we thought or the high oil prices are starting to be affected by demand destruction.
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It's in Hashimoto's best interest not to show his cards, ... but others vying for office can be bolder.
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It's kind of the first good news that we've had on the economy all week. It's a good number. But the problem with the number is it's really not indicative of the national number. It's the East Coast that's really suffering.
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The market is facing some seasonal pressure, but given the violence of the decline and the impending long weekend, I would not be shocked by a short-covering rally into the close.