Morning News

Futures are pointing to a lower open this morning.

European markets are trading pretty flat so far today.

In Tokyo the Nikkei 225 did end lower.

Crude oil is just above $85.00 per barrel.

Wholesale gasoline is $2.10 per gallon.

Natural gas has pulled back to $6.77 per unit.

Gold is $759.00 per ounce.

September existing home sales will be out at 10:00 this morning.

Energy Dept. will release weekly oil inventory levels at 10:30 this morning.

Merrill Lynch, Glaxo Smith Kline, Conoco Phillips, Corning, and Boeing set to lead the way on the earnings front today.

Reports are out that Merrill Lynch is ready to write off another $2.5 billion to the $5 billion the company previously announced.

Research In Motion shipping smart phones to China which will hopefully go on sale by the end of the year.

California fires showing no sign of weakness. Winds continue to hamper progress with more than 500,000 people being asked to leave their homes. It is also being reported that 1,800 structures have been lost with that number growing.

Sports fans the World Series between the Colorado Rockies and the Boston Red Sox begins tonight.

Budd Foxx