A daily morning look at the financial stories you need to know to start the day
-Stock futures are down sharply after the Bank of Japan did not come through with the new stimulus investors were expecting and hoping for.
-The 1st quarter GDP report comes out at 830am Eastern. Very slow growth of 0.7% is expected.
-The yield on the 10-year Treasury bond is back solidly below 1.9% after flirting with the 2% level this week. The GDP report should have an effect later this morning.
-Crude prices are flat but still at the $45/barrel level.
-Gasoline prices rose 2 cents overnight to $2.17/gallon, national average.
-Abbotr Labs is buying St. Jude Medical. It's a $25 billion deal.
-Sanofi is making a $9.3 billion offer to buy US biotech Medivation.
-Donald Trump is mocking Ted Cruz's decision to pick a running mate.
-Bernie Sanders' campaign is laying off hundreds of workers.
-Facebook earnings were much better than Wall Street expected.
-Volkswagen says the cost of its customer buyback and compensation program will be $9 billion.
-The House Armed Services Committee has overwhelmingly voted in favor of a $610 billion defense funding bill that includes a bigger pay raise for the troops than most Democrats wanted, (2.1%).
-A Syrian government airstrike has hit a hospital in Aleppo, killing several Doctors Without Borders physicians and some patients. The peace talks now hang by a thread.
-SPACEX has crashed the Boeing/Lockheed Martin monopoly and has just won a US military satellite launch contract.
-Production levels for the new F-35 fighter jet came in lower than expected for 1st quarter.
CEO PAY RECORD
-Nantkwest, a cancer research firm, paid its CEO Patrick Soon-Shiong a record salary of $147.6 million in 2015.