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Mid-Day Roundup

Brian Clark,|Sr. Video Producer
Monday, 9 Jun 2008 | 1:20 PM ET

Oil remains the talk of the markets, but the news is not all glum, as many investors go long energy stocks, according to CNBC’s Bob Pisani. Lehman works to raise more cash and in San Francisco, Apple developers hear what their Guru has to say.

Gauging Crude's Reality
A look at oil's two day surge as prices come down a bit this morning, with Ray Carbone, Paramount Options; Mary Novak, Global Insight and Herb Greenberg, GreenbergMeritz

Oil's Onward March

The bulls insist the rise in oil is due to a weaker dollar and growing demand in countries like China and India, while OPEC blames the rise in prices, in part, on speculators. Either way, Ray Carbone of Paramount Options thinks oil's headed even higher.

U.S. Light, Sweet Crude

Brent Futures

Lehman Latest
A look deeper into Lehman Brother's losses, with CNBC's David Faber

Lehman Looks Ahead

Lehman announced a $2.8 billion loss, but offset that by announcing its intent to raise another $6 billion in cash by issuing new stock. This was the first time the company has announced a loss since American Express spun it off and was much greater than anyone anticipated.

Apple Conference
Apple unveils new products and the latest innovations, with CNBC's Jim Goldman

iPhone Goes 3G?

Meanwhile, in San Francisco, Apple fanatics swarmed into the Moscone Center in anticipation of Steve Jobs’ address to the Worldwide Developers Conference. The great hope: that Jobs would announce the release of a 3G iPhone that would work on AT&T’s new high-speed network.

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