Morning News

• Futures are up this morning could see a slightly higher open.

• June Wholesale Trade data this morning at 10:00 am.

• Preliminary Q2 Productivity and Cost report at 8:30 am.

• It is all about the FOMC meeting today. The Federal Reserve is expected to raise rates today.Many economists expect the Fed will remain on it's measured pace of hikes at least through the end of the year.

• Space Shuttle to make landing this morning in California. Weather issues in Florida has forced the landing to take place at 8:11 am at Edwards Airforce Base.

• Ford Motor Company (F) to cut up to 25% of sales and marketing staff in an effort to cut costs.

• Yahoo (YHOO) to expand it's search engine index to include 20 billion documents and photos.

• Crude Oil has pulled back of the morning highs which did reach $64.00 per barrel. Currently oil is $63.72 per barrel.

• Gold has also pulled back a bit currently just under $440.00 per ounce.

Budd Foxx