According to Reuters, Fed chief Bernanke said the resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy.

Reuters writes that Dell’s (DELL) profit rose but if offered a weak outlook.

The Wall Street Journal writes that the government and leanders are near a deal that would freeze interest rates on some sub-prime loans.

The Wall Street Journal reports that the president of Morgan Stanley (MS), Zoe Cruz, has left the company.

The Wall Street Journal writes that the chairman of Goldman Sachs (GS) in China is setting up his own private equity fund which could compete with the big investment bank.

The Wall Street Journal reports that Google (GOOG) will announce today that it will enter the bidding for wireless spectrum that the FCC will hold in January.

The Wall Street Journal reports that vulture funds have recently raised $600 billion in recnet years some of it to take advantage of the mortgage mess.

The Wall Street Journal says that Verizon Wireless will adopt a technology from Europe in a blow to Quatcomm (QCOM)

The Wall Street Journal also reports that Apple (AAPL) and AT&T (T) will begin selling a 3G iPhone in the US next year.

The New York Times writes that Facebook is cutting back its new advertising program due to member complaints.

The FT writes  that the German finance minister blames "snooty" bankers for much of the current financial crisis.

Barron’s writes that Interactive Broker’s should prosper

CNN Money writes that the FDA is likely to approve a new stent product from Abbott Labs (ABT)

Douglas A. McIntyre

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