Friday morning headlines

Market still sleeping: Up a little bit, down a little bit, stocks are going nowhere fast. Dow is down a few points in early trading.

Inflation stays tame: The August Consumer Price Index was up a scant 0.2 percent in the L.A. area, lower than for the nation overall. Over the last year, the CPI is up only 0.8 percent. Sluggish demand is preventing most businesses from raising prices. (press release)

Consumer sentiment dips: The Reuters/University of Michigan index for September is at its lowest level since August 2009. (MarketWatch)

Budget deal imminent? Or not?: Senate President Pro Tem Darrell Steinberg told reporters Thursday night that a deal could be expected "tomorrow or by the weekend at the latest." But a spokesman for the governor says a budget "is not significantly closer." (LAT)

Sealing the well: Looks like BP is on the verge of plugging the broken well that spewed thousands of gallons of oil into the Gulf of Mexico. The final seal should happen by Sunday. (AP)

Mozilo's trial date: The fraud case involving the former CEO of Countrywide Financial is set to begin in federal court in L.A. on Oct. 19. (Reuters)

Would you believe "Newsbeast"?: Lots of chatter about a merger of the Daily Beast and Newsweek's digital operations, a combination that would clear the way for Daily Beast Editor-in-Chief Tina Brown to take over the newsweekly. From the NY Post:

The speculation, which has been swirling inside The Daily Beast and Newsweek for weeks, was given an extra push recently when Sidney Harman, the 92-year-old stereo-equipment mogul who finalized the deal for the struggling weekly, and IAC Chairman Diller were spotted having drinks together at the Four Seasons in Georgetown.