A daily morning look at the financial stories you need to know to start the day
-Futures are a bit down after yesterday's mixed day. The key US Econ reports today are Consumer Sentiment and Industrial Production.
-Surveys show most Americans think the economy is getting worse.
-China's first quarter GDP came in at the expected 6.7% number. But that's still lower than previous years.
-Crude prices are lower and are now at the $40/barrel level.
-Gasoline prices keep rising. We're now at $2.11/gallon, national average. That's 17 cents higher than a month ago.
-Russia says it doesn't expect oil prices to rise in reaction to this weekend's big oil producers' meeting in Qatar.
-Bernie Sanders took aim at trying to wrest African-American voters away from Hillary Clinton in last nights Dem debate in Brooklyn.
-Speaker Paul Ryan is increasing his criticism of Donald Trump.
-CEO Lloyd Blankfein is ordering deep cuts at Goldman Sachs, including slashing support staff and reducing approved travel and entertainment expenses.
-Reports say Yahoo is hiding many of its key financial numbers, and thus making the bidding process for its core businesses very difficult.
-What's the one industry in America that not only has a trade surplus, but has the biggest trade surplus that's still growing fast? The answer is Defense and Aerospace. Gross exports in that sector were $143.3 billion last year, up a whopping 58.9% since 2010. And who is our biggest international customer for this free trade bonanza? Answer: China!
-Sec. of State John Kerry says the US naval ship buzzed by the Russian fighter jet this week would have been within its rights to shoot it down.
-A mid-range missile test by North Korea this morning has apparently failed.
-Sec. of Defense Ash Carter is going to visit a US warship in the South China Sea. This is angering Beijing.
-The NBA could issue a statement today about its scheduled 2017 All Star game in Charlotte, NC. A decision to move it would put the most pressure yet on NC Gov.Pat McCrory and state legislators to repeal the new "bathroom law" in the state.
-The food safety crises at Chipotle has cost the chain three years' worth of earnings.
-Now Venezuela is changing the clocks and rationing power to shopping malls to deal with its financial collapse.
-The number of deadly infections from dirty gastrointestinal scopes is much higher than previously thought or reported.
CABLE BILL RELIEF?
-The Obama administration will ask the FCC today to open up the cable set top box market up for competition. Right now, we have topay high rental fees for boxes the cable company gives us