Morning News

Futures are pointing to a much lower open

In Japan the Nikkei closed down 6.8%

In Hong Kong the Hang Seng closed down 5.15%

European markets are down 3-4% in early trading

MBA Purchase Applications (wk10/17 , 2008)

EIA Petroleum Status Report (wk10/17 , 2008)

Wachovia posts 24 Billion Third Quarter loss

Boeing profit falls 38%

Crude Oil is $69.50 per barrel

Gold is $755 per ounce