THIS IS A RUSH TRANSCRIPT.  THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. LEON HARRIS, CNN ANCHOR: Time to check in with David Haffenreffer for the morning's business headlines. Good morning, David.</s>CAROL LIN, CNN ANCHOR: Morning, David.</s>DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol. Good morning, Leon. About three hours to go now before the opening bell rings on the Street on this Monday morning. The first session of the fourth quarter is today and will likely be dominated by talk about the Federal Reserve. The Central Bank's policymakers meet tomorrow in Washington and Wall Street is expecting an interest rate cut of at least a quarter point. Some are saying we could get a half point cut. It would be the ninth cut this year. The Fed cuts -- cut rates, you'll remember, by half a point back on September 17 which was the first day stocks traded after the terrorist attacks in New York and Washington, D.C. Analysts expect economic news to also dictate the direction of trading this week. Several reports are out today. The one that -- with the most market moving potential is the National Association of Purchasing Management Index. Now economists are expecting another decline when the gauge of the manufacturing sector comes out this morning at 10:00 a.m. Eastern. This morning's stock index futures are pointing to a weak open right now, this after steadying last week. The Dow industrials had a great week last week. It gained more than 7 percent and that helped to wipe out about half of the previous week's plunge. The Nasdaq rose more than 5 percent and the S&P; 500 index jumped nearly 8 percent. And that is a quick look at business news on this Monday morning -- Carol and Leon, back to you.</s>HARRIS: Thank you, David, we'll get back to you in a bit. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Analysts Expect Economic News to Dictate Direction of Trade this Week