VELSHI: Twenty-four minutes after the hour. "Minding Your Business" this morning. American Airlines just announced it has placed the largest aircraft order in history, reportedly worth $37 billion. The order is for 460 narrow bodied jets. It will be split between Boeing and Airbus. American Airlines is expected to have a press conference later today to provide more detail. The number of mortgage applications increased last week from the week before. Mortgage rates are back down to their lowest levels of the year due to turmoil in the financial markets. The average interest rate for a 30-year fixed rate mortgage is 4.5 percent. Maryland, New Mexico, South Carolina, Tennessee, and Virginia are all states under a review for a possible credit downgrade by Moody's Investors services. The ratings agency says those states are most vulnerable when it comes to the debt ceiling talks in Washington because they rely heavily on federal funding in contracts. More big earnings reports on tap today. Altria which owns tobacco giant, Philip Morris, and Blackrock report earnings in the next hour before markets open. American Express, eBay and Intel report their earnings after the closing bell this afternoon. Let's check in on markets right now. Stock futures are higher. Apple's stellar quarterly earnings last night lifted the tech sector this morning and investors still feeling optimistic over progress in the debt ceiling talks in Washington. AMERICAN MORNING is right back after this break.
Moody's Warns Five States Of Rating Downgrade