Dynamic Content on Home Page

Hi, I am new to wordpress (obviously) and I am having trouble finding the correct to tutorial to get me started. On my front page I am wanting to pull some news stories from a couple of rss feeds and post them on the front page in just a simple title > intro text> link to full story format.

Is there a plugin that I need to install to get this to work, or is this capable in wordpress? Anyone out there who is willing to help, I would greatly appreciate it. Thanks