Morning News

• Futures are pointing to a lower open this morning.

• Energy Dept. will release oil inventories at 10:30 this morning.

• Fed Beige Book to be released at 2:00 this afternoon.

• European markets are to the upside just slightly today. Asian markets mostly to the downside with the Nikkei 225 down .8%

• Amazon.com Inc. misses earnings estimates, and the stock got drilled to the tune of 12% lower in after hours trading last night.

• Hewlett Packard to buy Mercury Interactive Corp. for $4.5 billion.

• Hezbollah threats to begin firing missiles deeper into Israel .

• Brutal heat in the forcast for some states once again out west today. Reports of record usage of electricity being reported in California.

• Nigerian oil pipeline shut down due to militants fighting for control of oil and gas resources.

• Crude oil is up a bit this morning to $73.85 per barrel.

• Wholesale gasoline is $2.28 per gallon.

• Natural gas up to $6.64 per unit.

• Gold is currently $617.00 per ounce.

Budd Foxx