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The Power Brief

Photographer | Collection | Getty Images

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

STOCKS/ECONOMY

-Stock futures are just a bit higher this morning after another nice rally yesterday. Durable goods orders are due out at 830am Eastern.

The G-7 economic summit is underway in Tokyo where Japanese PM Abe is warning of a Lehman-like collapse unless the world keeps its eyes on the ball.

-As the G-7 plays out, Pres. Obama is trying to push the TPP trade pact that Hillary Clinton, Bernie Sanders, and Donald Trump all oppose.

OIL/ENERGY

-Crude prices are up a bit today and edging ever closer to $50/barrel. But nat gas is back down below $2.

-Gasoline prices are up another penny to $2.31/gallon, national average.

CHINA STEEL

-Who needs Donald Trump for a trade war? The US is imposing steeper tariffs on Chinese imported steel right now.

ELECTION

-At the G-7 summit today, Pres. Obama has said that Donald Trump, "displays ignorance on world affairs."

-Donald Trump and Bernie Sanders may actually debate each other in the days before the California primary.

-Disney CEO Bob Iger is shooting back at Bernie Sanders after Sanders attacked Disney for worker conditions and pay at its theme parks. Iger openly asked Sanders:"How many jobs have you created?"

-A prominent art historian says it was Donald Trump who paid the millions of dollars to restore the famous gold leaf statue of Civil War hero Gen. William Sherman at Central Park South and 5th Ave.

VENEZUELA MESS

-Venezuela's gold reserves are at an all-time low as it's had to sell off its assets to pay debts.

DEALS/NO DEALS

-One of Tribune's largest shareholders is blasting the company for rebuffing Gannett's attempts to buy it.

STARBUCKS' GREAT WALL OF HOPE?

-Starbucks CEO Howard Schultz told CNBC today that Starbucks sales in China could one day surpass its US totals.

DEFENSE

-China is reportedly ramping up tensions in the South China Sea by deploying nuclear-armed submarines in those waters.

-The Pentagon now fully admits that full production of the F-35 won't happen until 2018.

-GE has made a $3.5 billion deal to supply South Korea with the engines for its next generation fighter jets.

-The UK is about to award the contract for the first laser-energy weapon system. Raytheon and Lockheed-Martin are in the running.