michelle steele joins with us a look at that story and the rest of the business news in the "bloomberg business report." good morning, michelle. >> good monday morning, mindy. good morning, everybody. dr. doom himself. he's dr. doom because did he predict the financial crisis. he was the n. yumplet economist who did so. he says commodity prices may extend their rally in 2010. rue beanie -- roubini tells bloomberg news oil in particular will have a better increase than the other commodities within aaverage price of $70 to $75 next year. crude oil this morning rising to nearly $71 a barrel. speaking of rising, ebay shares may get a boost, too. ebay's core auction business is rebounding along with the economy. and its paypal and sciep units are -- skype units are expanding. a mixed close friday. the dow posting its best month since 2002 as the companies for moat moat to master -- from motor role i can't to caster cards top estimates. reports this week say employers cut jobs with a slower pace last month and the factory slump eased, adding to indications we're getting closer to the end of

at the new york stock schairntion i'm michelle steele -- exchange, i'm michelle steele. >> he was reportedlyutraged after his arrest in an incident that sparked a national controversy on racial profiling. but now harvard professor gates seems to be ready to laugh the matter off. at a book signing event over the weekend, the author and scholar talked about his white house meeting with president obama and sergeant james crowley, the officer who arrested him while trying to break into his own home. >> i offered to get his kids into harvard. [laughing] if he doesn't arrest me ever again. >> on a more serious side, though, professor gates said he did have to change his phone numbers after receiving death threats. >> that's a shame. 6:21. 70 degrees. another check on weather is straight ahead. >> the ravens welcome their top veteran receiver back to the nest. find out what derrick mason has to say about his short-lived retirement. >> and don't forget to e-mail your answer to the watercooler@wbaltv.com. did a store owner go too far with his psycho donut offerings? or was it all just harmless fun? e

michelle steel joins us live with that story and the rest of the business news in the bloomberg news report. >> good morning. aig is well known for getting billions of dollars from the government. now the guy who led the insurance company for 38 years may be facing a federal government lawsuit. they may sue the executive. he was pushed out during a government probe into its business. they accused of hiding losses and inflating reserves. the government is weighing a reorganization of fannie mae and freddie mac. they may put it in a government supported corporation. no decision has been made yet on whether to go through with the good bank-bad bank option. stock futures are pretty quiet indicating a slightly higher open. the government july jobs report comes out tomorrow. that is business news. reporting for wbal-tv. >> see you back here at 6:15. if you are in the market for new technology, now may be the best time to buy. >> the computer section at best buy was busy this afternoon. people checking at the latest laptops. this year as the budgets are shrinking, so are their computers. >>

. >> michelle steele is live this morning. >> stock futures have been fluctuating between gains and losses all day. loo -ks like we're headed towards a slightly lower open. government reports on durable goods will be out this morning. crude oil futures are active this morning after falling more than 3% yesterday. a report coming out later this morning is expected to show crude inventories fell for a second week. the price of a beer is going up. the world's largest brewer is planning on raises prices for most of its u.s. beer. there are citing rising costs for the move. the plan has met "general acceptance from retailers." the price hikes are expected to occur later this year. it may not be a bad time to stock up. that is business news. i am michelle news reporting for abc 7 news. considering how the cubs stacked up against the nationals yesterday, i will be having a beer. >> stocking up today? are you? >> think so. looking at this score, horrible. but good for you guys. >> thank you, michele. >>> 6:39 is your time. >> when we continue, the shuttle launch gets scrub it again. >> after a ref

michelle steel is live this morning. hi, good morning. >> good morning, to you, guys. good morning. for fresh developments in the bernard madoff scandal. it continues. today is the day frank the finance chief at madoff's investment advisory business is expected to plead guilty to criminal charges. 4 e's been with madoff since the 1970's, depas collie may end up becoming a key witness and help prosecutors build criminal cases against the other players in the scheme. madoff repeatedly claimed he acted alo and is currently serving a 150-year prison term. >> on to the housing market. stilla.com says by the middle of next year the mortgage holders who owe more than their home is worth may soar to 30%. in the second quarter 25% of u.s. mortgages were under water and home values in the d.c. metro area fell 1% to an average of $142,000. compared to the second quarter a year ago prices falling 12%. as for trading, l'sak te a look at stock index futures. t ndlogin losses gearing up for a lower open here on wall street. and that is business news le at bloomberg headquarters i'm michelle report

flash michele steele lights. last call. longer governor of illinois, but he made his singing did you, belting out and elvis tune at the chicago block party -- flash the studio lights. >> ♪ [singing] [cheers and applause] greta: what can really say about that video? the party was thrown