I noticed the is a squeeking/groaning sound coming from the driver's side front wheel area when i go over speed bumps and it is cold. I was told it is probably the strut mount. Other than that the car steers and handles fine. It has almost 59K miles. Anybody help me on this one?

could be a strut mount for sure. Or a ball joint. Or a wheel bearing. Wheel bearings in malibu's are terrible - they go out all the time. Bring it to an alignment shop, they'll tell you.

If it were a wheel bearing wouldn't it make noise whether i was going over bumps or not?

normally yes

i noticed a similar squeaking sound coming from my drivers front tire..i went to a shop and they said the dust boot had to be replaced..ran me 200 cause the warranty didn't cover

I tried to some of my own diagnosis. The strut seems fine. It is not sagging or weak. When I push up and down on the car it just makes the normal hissing sound that they do. But, when I am driving and I go through a dip or rock the steering wheel back and forth and make the car rock, thats when it makes the squeeking sound.