WELL, OBAMA CAN STILL HOPE THE SURGE FAILS...::

Oil falls 5.4 percent in biggest drop since 2004 (Richard Valdmanis, 8/22/08, Reuters)

Crude oil prices fell more than 5.4 percent on Friday in the biggest one-day slide since 2004 as dealers turned their focus to rising supply levels and weakening global demand.

A rebound in the U.S. dollar encouraged the sell-off, applying downward pressure across the commodities markets by weakening the purchasing power of buyers using other currencies, dealers said.

Stocks jump on falling oil, inflation forecast (Tim Paradis, 8/22/08, AP)

Wall Street capped a volatile week with sharp gains Friday as oil prices tumbled and after Federal Reserve Chairman Ben Bernanke said inflation pressures are likely to moderate. The Dow Jones industrial average rose nearly 200 points.

Speculation that Lehman Brothers Holdings Inc. could be sold helped buoy the financial sector and the overall market.

Posted by Orrin Judd at August 22, 2008 5:10 PM