Word: pullback
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Dates: during 2000-2009
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...rate of 3.5% in the second half of this year and 4% in 2004, assuming--as any bullish case must--that the war keeps going well and there is no major terror event. Byron Wien, chief U.S. market strategist at Morgan Stanley, says investors who wait for a stock pullback will be disappointed. "The economy has done remarkably well in the face of high oil prices, a cold winter and the geopolitical concerns," he says. "Take those away, and it should really improve." He predicts that the market will rise 10% in the next few months and hold the gains...
...White House aide puts it, "they will pay too heavy a price if they pursue this nuclear approach." The 1994 framework is effectively dead. Pyongyang can no longer sell off its threats piecemeal. New U.S. demands will sweep across the spectrum of security issues, including a pullback of conventional forces from the DMZ. If Kim doesn't buckle, Washington will make its weight felt by cutting off outside aid except for humanitarian assistance. The risk, warns Gary Samore, a Clinton Administration National Security Council director on nonproliferation, is that Bush's tough-love diplomacy may bring on a deep chill...
...Philip Morris crashed more than 20% as the Dow plunged in June and July. Sure enough too, the collective wisdom of the market understands recessions better than the economists. Last week's revised figures show the economy contracted in not just one but three quarters last year. That deep pullback helps explain why the market began tanking in 2000, when economists were insisting the R word was overblown...
...MIDDLE EAST Nothing to Hide, But in No Hurry to Comply Ignoring a fresh U.S. call for a complete pullback from reoccupied Palestinian areas, Israel sent tanks and troops back into the city of Qalqiliya and three villages, while asking the U.N. to delay - pending clarifications - a fact-finding mission to investigate Israeli forces' attack on the Jenin refugee camp. Denying allegations of a massacre at Jenin, Israel insists that the U.N. inquiry include an investigation of Palestinian "terrorism" and that both sides agree on a framework for the U.N. team's activities. In Ramallah, the Greek and Turkish Foreign...
...Israelis could not entirely dismiss the initiative, despite the fact that its terms are unacceptable to Prime Minister Ariel Sharon. To the Times, Abdullah spoke of "full withdrawal from all occupied territories...including in Jerusalem." Israel insists on keeping parts of the territories, and Sharon rejects any Israeli pullback in Jerusalem. The Saudis might be more flexible on these points than Abdullah indicated; Saudi officials now say the kingdom would endorse any border compromises acceptable to the Palestinians and Syrians. In any event, Sharon invited Abdullah to explain his ideas in detail. He insisted that before Israel would judge Abdullah...