Before the Bell 6/20/2008

[0:14] ..." summit coming up over the weekend in Saudi Arabia though and you know anybody knows what's going to happen airport virtually anybody about his size is going to be who's buying"...

[1:48] ..." a barrel but nothing has been confirmed but it was confirmed that Merrill Lynch. It's actually cutting their estimates on the number of banks this morning like. It's brother and Bank of America JPMorgan national city so that's not helping. The municipal insurers also lose their triple a status from Moody's so ambac and MBIA. Both got downgrades on their ratings. A Washington Mutual mortgage companies do -- about 1200 people gold mainly in Florida California as a result of the mortgage crisis and finally Lehman Brothers came out. They're also cutting the estimates on Fannie Mae and Freddie Mac are probably all this is built with the market but it just stems back guess in the concerns about the --"...

[2:26] ..." Well Delta Airlines stocks they were up yesterday like United Airlines account that a builder down today is that what goes up must come down"...

[0:11]" Yeah that's -- the -- relate to either unfortunately -- summit coming up over the weekend in Saudi Arabia though and you know anybody knows what's going to happen airport virtually anybody about his size is going to be who's buying or selling oil is going to be planting and be there so. We don't know what's going to happen there we also take on top of that there's a -- Nigerian strike looming so that's not helping. The good news yesterday was that oil actually dropped about five dollars a barrel with some -- from China because. They were supposedly raising the price is about 732% and the gas in the assumption there was there was going to reduce demand and kind of ease the crisis well of course eleven have been working because of Goldman Sachs analyst came about and so I think this may backfire. Because that when -- seat. What's happening with the prices realized then that may -- further refinery. To get more evidence that it'd make more money so that may actually ramp up so that may backfire -- we talked about yesterday so. Get good news bad news sometimes also today we have more -- know what's going on Friday it's called the witching our because we have an expiration dates so. This happens to be the quadruple quadruple witching hour -- we have some of -- various options and futures and stocks all coming to collide. So back into the agitate the market's biggest things have to be closed up to associate that has an effect right now recipe future does six point five does not 44 the Nasdaq down twelve and get back aura looks like were a little bit more than three bucks a 135."

[1:34]" And a lot of talk more popular we direct that heightened sense of awareness on financials over the last couple weeks especially from the investment banks they -- all this week with further earnings. Give -- a -- whatsoever on the sporting got more write -- coming out and you know some of the of the rumors like Citigroup a barrel but nothing has been confirmed but it was confirmed that Merrill Lynch. It's actually cutting their estimates on the number of banks this morning like. It's brother and Bank of America JPMorgan national city so that's not helping. The municipal insurers also lose their triple a status from Moody's so ambac and MBIA. Both got downgrades on their ratings. A Washington Mutual mortgage companies do -- about 1200 people gold mainly in Florida California as a result of the mortgage crisis and finally Lehman Brothers came out. They're also cutting the estimates on Fannie Mae and Freddie Mac are probably all this is built with the market but it just stems back guess in the concerns about the --"

[2:26]" Well Delta Airlines stocks they were up yesterday like United Airlines account that a builder down today is that what goes up must come down also with its explodes in the midwest causing -- much havoc on corn prices so. There are are calling it the questions in the bottle and policies. We want the power on the this morning from Boeing is there actually reach the milestone -- that an 87 Dreamliner looks like they tested okay. Going to be hopefully okay for the maiden flight by -- and finally. I think the only thing worse than owning -- in the last year is owning a home on wheels have completely with a -- okay about the RV company. Not a time for gas prevalent -- is down about 7% to about 4% year to date itself in the that the company started the worst in twenty years it took time for Wednesday."