Morning News

• Futures are pointing to a higher open this morning.

• July Federal Budget today at 2 pm.

• Oil inventories will be released at 10:30 am today.

• China has disclosed composition of currency basket used to set the Yuans value, mainly including U.S.Dollar, EURO, YEN, and the Korean Won.

• The U.S. dollar is weak this morning against most major currencies.

• Unocal (UCL) shareholders set to approve takeover by Chevron (CVX)

• Res Med Inc (RMD) it's board has approved a 2 For 1 stock split to be distributed on September 30th.

• Oil is $63.51 per barrel currently, with all eyes on that inventory report.

• Gold is currently just over $441.00 up slightly due to slightly weaker dollar this am.

Budd Foxx