Tumultuous

Beyond the currently tumultuous financing markets and depressedcommodity prices there is a good deal of potential energy in themergers and acquisitions arena, according to Eric Mullins, vicepresident of Goldman Sachs.

The futures market concluded what one trader described as a”tumultuous trading week” by slipping for the fifth straight day,leaving futures at their lowest level since March 1997. There was alittle something for everyone in the market last week: speculativeselling, a bullish storage report, and even a little hurricanehype. The only thing missing from trading last week was a dayregistering a gain. That left even the most bullish of tradersscratching their horns wondering when the market will reverse itsdowntrend. The September contract closed at $1.844 on Friday, down6.2 cents. Friday’s With that, the market concluded the month ofJuly. A month that saw major declines in both cash and futuresmarkets eroding the September contract nearly 30 percent of itsJuly 1 value.