Wednesday, December 05, 2007

Morning News

Futures are up looking at a higher open this morning.

European markets are trading higher today.

In Tokyo the Nikkei 225 did end higher.

Crude oil is $89.84 per barrel.

Wholesale gasoline is $2.28 per gallon.

Natural gas is sitting just above $7.00 per unit.

Gold is back up to $809.00 per ounce.

Third quarter productivity numbers will be released at 10:00 this morning.

November ISM nonmanufacturing poll will be released at 10:00 this morning.

Factory orders for the month of October will be released at 10:00 this am.

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

Yesterday's action saw the Dow down 65 points, the Nasdaq lost 17 points, and the S&P gave back 9 points.

OPEC has agreed to leave oil output unchanged. Next meeting scheduled for January.

Big banks subpoenaed by New York prosecutors about the packaging, and selling of subprime mortgages.

Fannie Mae to sell up to $7 billion in new stock, and slash dividend by 30%

Budd Foxx

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