Morning News

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

• The Federal Open Market Committee will be meeting on Wednesday and Thursday this week.

• May new home sales to be released at 10:00 this morning.

• Mittal Steel wins pursuit for Arcelor with $33.6 billion bid.

• Pfizer Inc. to sell its consumer healthcare business to Johnson & Johnson for $16.6 billion.

• Phelps Dodge to buy Inco Ltd. and Falconbridge Ltd.

• Warren Buffet to begin giving alot of his fortune to the Bill & Melinda Gates foundation.

• The Lundberg Survey of 7,000 gas stations points to a drop of 4.5 cents in the price of gasoline. The average price of a gallon of unleaded gas is $2.89 per gallon.

• Anheuser Busch signs Superbowl deal with NBC.

• Crude Oil is $70.72 per barrel.

• Wholesale gasoline currently $2.13 per gallon.

• Natural gas back down to $6.10 per unit.

• Gold just above $587.00 per ounce.

Budd Foxx