Morning News

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

• Weekly oil inventories to be released at 10:30 this morning.

• Federal Reserve raised interest rates yesterday and gave no sign of ending these hikes anytime soon.

• Ebay headed to Supreme Court today to argue the company should not suffer an injunction for patent infringement. In lower courts Ebay was found to have infringed on two patents owned by MercExchange.

• European Union warns Microsoft Corp. not to add search features to it's next generation operating system.

• Pfizer taking bids for one of it's consumer products units. The company hopes to get up to $14 billion for the unit.

• Government setting new guidelines for automakers with new fuel economy rules. The government wants to see better miles per gallon in pickups, sport utilities, and vans.These changes wanted in 2008-2011 models.

• Crude Oil is $65.70 per barrel.

• Wholesale gasoline remains high at $1.88 per gallon.

• Natural gas is $7.26 per unit.

• Gold is currently $563.70 per ounce.

Budd Foxx