Morning News

• Futures are weak this morning pointing to another lower open.

• Weekly Jobless Claims out at 8:30 am.

• August Leading Indicators also out this morning at 10:00 am.

• Hurricane Rita just a monster category 5 hurricane with winds of 175 miles per hour forcing millions of Texans to leave there homes. All hopes are that FEMA and the Federal Government are a bit more prepared for this storm. Forcaster are calling for some areas to get upto or more than 20 inches of rain , and a possible storm surge of 20 to 30 feet. The storm is expected to make landfall early Saturday morning.

• Sony (SNE) to cut up to 10,000 jobs by 2008. The job cuts are part of a 3 year restructuring plan.

• General Electric (GE) to sell 101 million shares of Genworth Financial at $29.50 per share.

• Crude Oil is up again this morning currently $68.00 per barrel.

• Wholesale Gasoline is also up to $2.15 per gallon.

• Gold continues to rip upward currently $476.60 per ounce.

Budd Foxx