According to Reuters, the markets will now turn their attention to AIG (AIG) which is struggling to survive.

Reuters report that the Fed will probably hold interest rates steady and signal a cut for later in the year.

Reuters reports that AIG got help from New York state that allowed it to transfer some money from its operating divisions to the parent.

Reuters reports that Morgan Stanley (MS) and Goldman Sachs (GS) face a test as they report earnings.

Reuters reports that Hewlett-Packard will cut almost 25,000 jobs and take a $1.7 billion charge.

Reuters says that Washington Mutual (WM) had its bond rating cut to junk.

The Wall Street Journal reports that Lehman (LEH) is in talks to sell parts of its business to Barclays (BCS).

The Wall Street Journal reports that the Chinese government is making moves to improve the country’s growth rate.

The Wall Street Journal says that the CEOs of Fannie Mae (FNM) and Freddie Mac (FRE) still have their 401k savings.

The Wall Street Journal reports that Intel’s (INTC) new six-brain chip is doing well.

The Wall Street Journal reports that Best Buy (BBY) has created an imaginary stock market to test new products.

The Wall Street Journal reports that GE (GE) shares hit a five-year low on fears about its financial arm.

The Wall Street Journal says that The World Association of Newspapers opposes the deal for Google (GOOG) to sell ad inventory for Yahoo! (YHOO).

The Wall Street Journal reports that T-Mobile is about to launch the first phone powered by the Google operating system.

The New York Times reports that the Bank of America (BAC) sees the purchase of Merrill Lynch (MER) as a rare opportunity.

The New York Times reports that the price of crude oil dropped below $100.

The New York Times reports that jukebox on MySpace (NWS) will take aim at Apple’s (AAPL) digital music products.

The FT reports that the SEC is ready to adopt new measures to control short selling.

Bloomberg reports that downgrades of AIG threatens its ability to make money.

Bloomberg reports that the fall of Lehman has caused calls for a new credit derivatives clearing house.

Douglas A. McIntyre

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