Morning News

• Futures are down this morning pointing to a lower open.

• May consumer confidence to be released today.

• Supplies reaching Indonesia after a 6.3 earthquake rocks the area on saturday. It is believed that more than 5,400 people have lost there lives. An estimated 200,000 people have been left homeless after the quake.

• Wal-Mart same store sales for May rise 2.3% which is at the low end of expectations.

• Donald Evans, and Hank Paulson seem to be the front runners to replace John Snow.

• Iran minister now saying that the U.S. is not capable of attack.

• CEO and group of investors offering to take Kinder Morgan private.

• Malaysia in talks to bring Disney Theme Park to Southeast Asia.

• General Motors downgraded this morning at Deutsche Bank.

• Crude Oil is $71.85 per barrel.

• Wholesale gasoline currently $2.13 per gallon.

• Natural gas remains just above $6.00 per unit.

• Gold holding right at $651.00 per ounce.

Budd Foxx