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The Power Brief

Trump, Clinton trail as Wisconsin voters head to polls

A daily morning look at the financial stories you need to know to start the day

STOCKS/ECONOMY

-Stock futures are a bit lower. We get existing home sales data at 10am.

-Mortgage applications rose 1.3% last week but it was almost all refis.

-Silver is now at an 11-month high.

OIL/ENERGY

-Crude is down about 2% and at the $40/barrel level now that the striking Kuwaiti oil workers are back on the job.

-Gasoline prices fell to $2.10/gallon, national average.

-Saudi Arabia is borrowing $10 billion from several global banks to make up for oil revenue losses.

ELECTION

-This time the polls were right. Donald Trump and Hillary Clinton won big in the NY primary.

TECH WARS

-Apple reportedly refused a demand from the Chinese government to hand over its source code. This has apparently been going on for 2 years.

-The EU has formally charged Google for anti competitive practices connected to Android devices.

-Intel announced it is cutting a lot more jobs than expected: 12,000.

NC LAW

-More local business leaders are calling for NC to repeal its bathroom law.

MOVING AMERICA

-Mitsubishi is admitting that it misled regulators and the public in its fuel economy claims. There could be serious misconduct here like the Volkswagen case, but what a big difference in the way these two companies have handled the matter! Mitsubishi seems to be getting out in front of the problem in the public arena much better.

-There has been an agreement to end the shareholder activist board fight at United Continental... for now.

DEFENSE

-The Pentagon is now allowing for more civilian casualties in the fight against ISIS.

RX ABUSE

-About 5% of workers who on are opioid painkillers are abusing them. And their overuse is a cost their employer health plans are paying for.That's part of the $10 billion its costly employers every year to pay for overuse and deal with workplace problems caused by opioid addiction.