Oil Prices Not a big concern

We continued to see mixed results in the markets, a couple of interesting developments with Japan missing it's projected growth rate and is reported to be entering a recession, I doubt this will have much of an impact in North America. The most interesting piece last week was the bid by Halliburton to take over Baker Hughes that saw the bid rejected, a move to replace Baker Hughes board and finally today an agreement for $34.6 billion, apparently $75 dollar a barrel oil is not a major concern based on this takeover. There have been other large takeovers also announced this week as well as weak consumer spending numbers, I believe this will be the norm until at least the new year.

Source: Dawn Neilson-CIBC

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