Morning News

• Futures are pointing to a lower open this morning.

• Weekly jobless claims to be released at 8:30 this morning.

• Natural gas inventories to be released today as well.

• Ben Bernanke to testify before the Joint Economic Committee today.

• Chinese central bank lifts base rates for the first time since 2004.

• President Bush to meet with executives from Ford, General Motors, and DaimlerChrysler to discuss energy, environment, healthcare , and pensions.

• Siemens to buy Diagnostics Products Group for $1.86 billion.

• McClatchy Co. to sell four of the twelve Knight Ridder papers it owns.

• Senate panel recommends overhaul or even abolishing FEMA

• Crude oil is down again to $71.12 per barrel.

• Wholesale gasoline is $2.10 per gallon.

• Natural gas remains right around $7.00 per unit.

• Gold pulling back a bit this morning to $635.00 per ounce.

Budd Foxx