×

The Power Brief

Rendering of a hyperloop station by Hyperloop Technologies.
Source: Hyperloop Technologies
Rendering of a hyperloop station by Hyperloop Technologies.

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

STOCKS/ECONOMY

-Stock futures are down after yesterday's big rally.

-The biggest market news comes from the courts where a federal judge blocked the Staples/Office Depot merger. Staples says it won't appeal and the deal is dead. Office Depot is down as much as 27% in the pre-market.

-Disney shares took a 6% drop after hours after an earnings miss.

-Goldman Sachs is getting more bullish on gold, citing its expectations for a continued weak dollar.

OIL/ENERGY

-Crude is flat and holding at the $44/barrel level.

-Gasoline prices fell fractionally again but are still at $2.20/gallon, national average.

ELECTION

-Bernie Sanders beat Hillary Clinton by 15 percentage points in the West Virginia primary.

-Donald Trump says he's narrowed his running mate choices to 5 or 6 names.

HEALTHCARE

-In a new trend that could be a breakthrough way to price drugs, health insurer Cigna will get a discount from drugmakers if certain anti-cholesterol drugs don't preform as well as promised.

DEALS/NO DEALS

-UFC owners, (Ultimate Fighting), are in talks to sell.

MOVING AMERICA

-The Obama administration is now threatening to shut down the DC Metro.

-Hyperloop One has completed an $80 million round of funding. It will be conducting a major test today in Las Vegas.

-Toyota says the new strength of the yen will result in a 35% profit drop for the company.

TERROR/DEFENSE

-Iran is going to sue the US over the Supreme Court's decision to seize $2 billion in Iranian funds to pay the victims of Iranian terror attacks.

-A Senate committee has approved a 1.6% pay raise for the troops, less than the House plan for a 2.1% raise. Now the two houses will have to fight it out.

CREDIT CARD FIGHT

-Wal-Mart is suing Visafor requiring signatures onchip debit card transactions.