Greg Valliere
Greg Valliere
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The Wall Street types want to make the United States attractive for investment, and a strong currency attracts investors.
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The wording of the statement will be very significant ? does it make it clear that the Fed is prepared to do more. It will be an important clue about what we might get going forward.
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Bush said in the state of Washington, right before the Washington primary, that he had problems with the suit. He indicated he didn't necessarily favor a breakup. The next day he sort of retracted the comments, but he is on record as saying that he really opposes a breakup. So, I think the company would like to wait until after the election.
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If they exchange gold wedding bands (the) price of gold will go up. If they travel to Europe on their honeymoon, the dollar will strengthen. If (Treasury Secretary) Robert Rubin and other administration officials are there, the Fed won't tighten again.
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There's a growing concern that the White House is out of touch. He has to show more empathy, and he hasn't done a good job on that.
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I think Bush would be a clear favorite.
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The two candidates who had backing from organized labor got slaughtered last night. You have to conclude that protectionist arguments just aren't going anywhere.
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O'Neill's gaffs have hurt him. There aren't a lot of Republicans on the Hill who like him. But he seemed to have the president's confidence.
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This is not comparable to 2000. If we were talking 3,000 or 4,000 votes, it'd be a big story. But I think the markets will perceive this as a temporary delay of the inevitable.
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Even people who don't like Microsoft we talked to late yesterday were shocked. They felt this could give Microsoft an opening in the appeals process to claim, 'We didn't get due process, this judge was too impetuous, he moved too quickly.' Considering how great a job Jackson has done, for him to give Microsoft an opening at this late date was a little surprising.
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If I was a member of Congress I'd try to press him on is there a light at the end of the tunnel on measured rate hikes, and at what point the Fed decides enough is enough. You have to think after the August move we probably are in the eighth inning, but I doubt he'll be that explicit.
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There's an adage that the Fed cuts or hikes one time too many.
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The combination of fiscal and monetary stimulus right now is the largest I've seen in years. It's good for GDP. If the economy starts to hum, stocks should do well.
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I think what we all are hoping for is resolution sooner rather than later. I'm not sure that Gore's speech at noon today would reinforce the belief that this would get wrapped up quickly. (Some) segments of the market will do well whether it's Microsoft or drug stocks, but I think it might be a little bit premature.