Wednesday, January 30, 2008

Morning News

Futures are pointing to a lower open this morning.

European markets are trading lower so far today.

In Tokyo the Nikkei 225 did close lower.

Crude oil is $92.30 per barrel.

Wholesale gasoline is $2.34 per gallon.

Natural gas is sitting just under $8.00 per unit.

Gold is $923.00 per ounce.

Fourth quarter GDP set to be released at 8:30 this morning.

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

Fed Decision on interest rates will be released at 2:15 this afternoon.

John McCain and Hillary Clinton take Florida primary.

Yesterday's action saw the Dow close 96 points higher, the Nasdaq finished 8 points higher, and the S&P also added 8 points.

Yahoo Inc. reports a drop in profit for the past quarter and saying 2008 sales could be as much as 10% below the street's expectations.

UBS writes off more than expectations, and lost money for the year.

The Feds are investigating banks like Goldman Sachs, Morgan Stanley, and Bear Stearns over subprime mortgage practices.

Budd Foxx

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