Morning News

Futures are pointing to a higher open

Fed and other central banks make emergency rate cuts

In Japan the Nikkei closed down 9.4%

In Hong Kong the Hang Seng closed down 8.2%

European markets are trading down

Dollar Falls Against Euro as Global Central Banks Make Cuts in Rates

MBA Purchase Applications (wk10/3 , 2008)

Pending Home Sales Index (Aug , 2008)

EIA Petroleum Status Report (wk10/3 , 2008)

Crude Oil is $87.60 per barrel

Gold is up $31 and is $913 per ounce