Surf the Slick: Oil Powers Higher Still; Greenback Comeback?; ISS Surprises Boosts Dell???s Desire to Reclaim Company

Surf the Slick: Oil Powers Higher Still (CNBC)

Even though Egyptian President Morsi has been ousted, little has been done to stop the runaway prices associated with oil. CNBC calls Brent crude at $110 a barrel this week, up from the low-to-mid $90s just a week or so ago. Investors are also sending oil prices higher, based on a positive jobs report from the U.S. last week, which is expected to drive stronger demand for black gold. Still, it wouldn???t be a 2013 market without a healthy core of naysayers, this time claiming the 5 percent move in Brent and 6.7 percent rally in U.S. crude futures represents an overbought state. Who???s right? Who cares, especially if you???ve been surfing the oil rally the last two weeks.

Greenback Comeback? (Reuters)

After a positive jobs report from the United States on Friday, the dollar hit a three-year high today, just as gold was lingering at a three-year low. The dollar index — which measures the U.S. currency against a basket of international currencies — rose to its highest level, 84.58, since July of 2010 — before falling back slightly to close at 84.43. Of course, news this good out of America regarding its economy now comes with the caveat that it will ultimately end the Federal Reserve???s bond buying spree. And the consensus now seems to point to a reduction in the government???s monthly $85-billion bond buy as early as September this year. Of course, we still have the rest of July and August to wade through before then, and as we???ve seen, anything can happen in the market. So, hold on tight.

ISS Surprises Boosts Dell???s Desire to Reclaim Company (Bloomberg)

The world???s largest shareholder-advisory firm, Institutional Shareholder Services (ISS), Inc., has advised investors in Dell, Inc. to accept founder Michael Dell???s $24-plus billion buyout plan. According to ISS, the 25.5 percent premium that Dell???s offer reflects is an excellent trade-off for the transfer of risk, and takes advantage of the company???s current share price. With as much sway as the ISS holds with institutional investors, this approval could be the final move in Dell???s chess game against Carl Icahn, for ownership in the U.S.-based computer heavyweight. If and when the purchase is confirmed, it???ll then be up to investors to decide how they think the company???s future looks, compared to other opportunities.