The New York Times says Lewis "Scooter" Libby will be indicted, but Karl Rove will not.
The Washington Post is more uncertain, reporting that indictments could happen.
ABC, NBC and CNN are all piggybacking with the claim that Rove will be spared an indictment but remain under investigation, while Libby is popped for making false statements.
All of these early reports seem underwhelming, given the week's hype.
Patrick Fitzgerald is due to announce his "direction" in the next half-hour or so (around 8 a.m. Central).
We'll update as it happens.
8 a.m. update Fitzgerald walks into the courthouse, surrounded by a flashing, multi-legged monster also known as a media corps. No comment. Go figure. He's not as rumpled as he usually looks, and he reportedly got a shoeshine on Thursday afternoon. You know there are no leaks; reporters are left to highlight a shoeshine.