Morning News

• Futures are on the flat side this morning pointing to a slightly higher open.

• September Personal Income and Outlays this morning at 8:30 am.

• October Agricultural Prices to be released at 3:00 this afternoon.

• October Chicago PMI to be released at 10:00 am.

• Reports are out that President Bush will name Samuel Alito for the Supreme Court this morning.

• Philidelphia city transit workers went on strike at midnight last night. This will have a serious effect on people who use the cities buses, trolleys, and subway systems.

• Novartis AG (NVS) has agreed with Chiron Corp. (CHIR) to purchase 58% of the company for $5.1 billion. Novartis already owns 42% of the company.

• SAKS Inc. (SKS) to sell 140 department stores to Bon Ton Stores Inc. (BONT) for $1.1 billion.

• Crude Oil is currently $60.55 per barrel.

• Wholesale Gasoline is $1.59 per gallon.

• Natural Gas has come back just a bit to $12.73 per unit.

• Gold currently $473.90 per ounce.

Budd Foxx