Morning News

• Futures look weak we could see a lower open today.

• July existing home sales numbers out this morning at 10 am.

• General Electric Co. wins a $2.4 billion contract to develop an engine for next generation stealth fighter jet. It is a 60/40 venture with British company Rolls Royce.

• Marge Magner stepping down at Citigroup (C) She was a 19 year veteran who ran the companies consumer division.

• Harrah's Entertainment to purchase Imperial Palace Hotel & Casino for $370 million.

• Nokia Corp. (NOK) has won a $125 million contract to expand India's Bharti Tele Ventures mobile phone network.

• Crude Oil is sitting just under $66.00 per barrel.

• Gold is currently just over $445.00 per ounce.

Budd Foxx