Morning News

• Futures are pointing to a higher open this morning.

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

• Philly Fed survey will be released today as well.

• Natural gas inventories will be released at 10:30 this morning.

• Yesterday's fall in the DOW was its largest single day decline since March 24, 2003.

• The Nasdaq is now in negative territory for 2006.

• Burger King raising $425 million becoming the richest ever U.S. restaurant IPO. 25 million shares were priced at $17.oo per share.

• Home Depo board has approved a $2 billion share buyback program.

• Mittal Steel launches hostile takeover bid for Arcelor.

• A jury has begun deliberating in the Enron Corp. trial. Eight women and four men will decide the fate of Kenneth Lay and Jeffrey Skilling.

• Crude Oil pulling back to $68.45 per barrel.

• Wholesale Gasoline has also pulled back current price is $1.97 per gallon.

• Natural Gas just above $6.00 per unit.

• Gold also pulling back a bit to $688.00 per ounce.

Budd Foxx