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The Power Brief

Gold bars
Akos Stiller | Bloomberg | Getty Images

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

STOCKS/ECONOMY

-Futures are up slightly after last week's broad stock losses. Japan's Nikkei index fell sharply overnight on renewed strength in the yen.

-Gold has surged to another 15-month high to above $1,300/ounce.

OIL/ENERGY

-Crude oil is down a bit, but holding at the $45/barrel level on news of more OPEC output.

-Gasoline prices rose again to $2.21/gallon, national average. That's 8 cents higher than a week ago and 16 cents more than a month ago. But it's still 39 cents less than a year ago today.

-Haliburton and Baker Hughes are pulling the plug on their massive merger because of all the international regulatory opposition.

PUERTO RICO DEFAULT

-Puerto Rico is making its biggest default yet, declaring a "moratorium" on an almost $400 million debt payment due today.

ELECTION

-At a rally in Indiana, Donald Trump said China is "raping" America.

-But Trump holds a double-digit lead over Ted Cruz in the latest Indiana polls. The primary there is tomorrow.

-Now Bernie Sanders may be preparing for a contested Democratic convention.

BUFFETT STOCK

-At the Berkshire Hathaway annual meeting, Warren Buffett is making several key statements live on CNBC. They include a strong rebuke against those who say Coke and other sodas cause obesity.

-Buffett and Berkshire investors overwhelmingly rejected commissioning a report on climate change and the effect it may have on the company.

YAHOO MESS

-Yahoo CEO Marissa Mayer could get $55 million in severance.

TERROR/DEFENSE

-Massive protests in Baghdad are adding to serious questions about the current Iraqi government's ability to survive.

-EU countries have been carrying out training in case of civil war or massive unrest.

WEB TV

-Hulu is about to sell live on-demand online content packages for about $40 a month. Disney and FOX content will dominate. This is direct competition for cable bundling of channels.

BITCOIN CREATOR?

-An Australian entrepreneur named Craig Wright tells the BBC he is the creator of Bitcoin.