Morning News

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

• Fourth Quarter GDP expected to be below 3% for the first time in 10 quarters.

• Microsoft reported last night after the bell profits were up 5.5% revenue increased by 9.4% but sales did come in just a bit below expectations.

• Pfizer has recieved approval from the Food and Drug Administration for Exubera it's inhalable drug for diabetes. Update 7:45 am. Hank Mckinnel CEO of Pfizer now on CNBC stating he was premature in the satement he gave earlier about the drug Exubera. He is stating the company has not recieved FDA approval.
  

• Mittal Steel the largest steel producer has offered to buy Arcelor the second largest steel producer for $22.7 billion.

• Crude Oil is up this morning to $67.03 per barrel.

• Wholesale Gasoline is $1.72 per gallon.

• Natural Gas currently $8.37 per unit.

• Gold is flat this morning sitting just under $560.00 per ounce.

Budd Foxx