This morning on American Morning, Christine Romans reports on the morning business news headlines.
Today we're watching:
* U.S. stock futures are down this morning after another sell off overseas on worries that Europe's debt crisis is deepening.
* Despite the ongoing debt crisis in Europe, a majority of economists tell CNNMoney that the Euro will survive as a currency.
* Federal Reserve Chairman Ben Bernanke will most likely be defending the central bank's latest short-term stimulus to boost the economy when he testifies before Congress this morning. Bernanke will also offer up his outlook for the economy.
* A government watchdog reporting that Fannie Mae reportedly knew about allegations of improper foreclosure practices as early as 2003. Fannie mae has not returned cnn's calls for comment.
* Today Apple pulls back the curtain and is expected to reveal its latest iPhone. And among the rumored bells and whistles: A bigger screen, a faster processor, a better camera and a fancy voice-control system.
* The minimum wage rates in eight states are set to increase in the next year. Colorado, Montana, Ohio, Washington and Oregon all announced their increases already. The bumps range from 28 to 37 cents. Arizona, Florida and Vermont will announce new rates in the next few weeks
Tune in to American Morning at 6am Eastern every day for the latest in business news.