Oil And The Dollar Continue To Drive M&A

July 2008 | Closing Bell

No relief for equities this week. As the price of oil reached US$144 a barrel on July 10, skyrocketing commodity prices continue to dictate the fortunes of corporate activity. If another shock in the US financial sector sends the dollar even lower, pushing up commodity prices, equity markets across the board will feel even more downward pressure. Last week's rate hike by the ECB did not bode well for equities, and neither does renewed speculation that the Fed may follow suit with tighter monetary policy. Moreover, while commodity-based stocks have still looked strong, this is only due to the huge

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