Morning News

Futures are getting drilled at this point in the morning.

European markets are trading lower.

In Tokyo the Nikkei 225 did end lower.

Crude oil pulling back just a bit to $95.30

Wholesale gasoline is $2.43 per gallon.

Natural gas is $7.79 per unit.

Gold is $832.00 per ounce.

September trade gap figures will be out at 8:30 this morning.

October import prices will be out at 8:30 this morning.

November consumer sentiment to be released at 10:30 this morning.

The Nasdaq has its worst two day slide since 2002.

Wachovia the latest to state they expect increased loan losses in this quarter.

Qualcomm reporting quarterly results that were fine, but forward guidance came in below expectations.

Merck & Company reportedly will settle all remaining Vioxx cases for $4.85 billion.

Former Citigroup CEO Chuck Prince will recieve $29.5 million plus a cash incentive reward.

Budd Foxx