Morning News

• Futures are up this morning pointing to a higher open.

• August Housing Starts today at 8:30 am.

• All eyes on the Federal Reserve today with expectations of a 25 basis point hike to 3.75%

• Average price of unleaded gasoline dropped 17 cents to $2.79 per gallon over the past week.

• Tropical Storm Rita moving in on the Florida Keys is projected to enter the Gulf of Mexico as a hurricane. The projected path brings the storm anywhere from Texas to Louisianna as a major hurricane.

• Reports are out that Wilbur Ross may buy some troubled Auto-Parts makers which would include Visteon Corp. (VC) assets.

• Crude Oil has pulled back a bit off yesterday's highs to $66.45 per barrel.

• Wholesale Gasoline also pulled back a bit to $1.96 per gallon.

• Gold continues to climb near 18 year highs. Currently $472.20 per ounce.

Budd Foxx