Morning News

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

• Chicago PMI to be released today.

• European markets are trading lower today. In Tokyo the Nikkei 225 traded to the upside.

• Isreal had agreed to end bombings in Lebanon for 48 hours, but reports are coming in this morning of continued air strikes in Lebanon.

• SanDisk to buy M-Systems Ltd. for $1.3 billion in stock.

• Apple Computer upgraded at Bank of America Securities to a buy, and also lifted its price target to $79.00 per share from $68.00 per share.

• Wal-Mart Stores believes July same store sales will come in up around 2.4% for the month.

• Crude oil moving up just a bit here this morning. Current price is $73.64 per barrel.

• Wholesale gasoline is $2.20 per gallon.

• Natural gas up to $7.57 per unit.

• Gold down just a bit this morning to $632.00 per ounce.

Budd Foxx