Morning News

• Futures are up looking to a higher open

• June Consumer Confidence 10am today.

• IBM Corp. (IBM) announced late yesterday the Securities and Exchange Commission is investigating the company on it's methods for exspensing employee stock options.

• Cable Industry recieved a favorable ruling from the supreme court which ruled cable companies do not have to share lines with rival providers of high speed internet services.
  

• Advanced Micro Devices (AMD) files suit late yesterday alleging Intel (INTC) violated antitrust laws.

• Morgan Stanley Raises it's forcast on the integrated oil industry to attractive from in line. Also raises raises projection price of crude oil to $50.00 per barrel.

• Crude oil has pulled back some off yesterday highs of $60.95 per barrel, which was a new all time high. The current price is just under $60.00 per barrel.

• Gold trading just under $440.00 per ounce.

Budd Foxx