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The Power Brief

Janet Yellen
Kevin Lamarque | Reuters
Janet Yellen

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

STOCKS/ECONOMY

-Stock futures are slightly higher after yesterday's flat close. Investors are eyeing a speech from Janet Yellen later today.

-At the G-7 summit in Tokyo, all the leaders are warning against the UK leaving the EU.

OIL/ENERGY

-Crude prices are down and retreating to the $49/barrel level.

-Gasoline prices rose fractionally and are still at $2.31/gallon, national average.

-In his energy speech yesterday, Donald Trump vowed to undo Pres. Obama's climate agenda and support coal and other fossil fuels.

ELECTION

-Donald Trump clinched the GOP nomination yesterday and celebrated at a rally in North Dakota.

MOVING AMERICA

-The latest massive round of Takata air bag-related recalls is covering more than 12 million vehicles.

-AAA expects 38 million Americans will hit the roads for trips this Memorial Day Weekend. That's the second most ever.

DEALS/NO DEALS

-Apple tried to make an offer to buy TimeWarner late last year.

-Embattled drug maker Valeant rejected a takeover offer from Takeda and TPG earlier this spring.

HEALTHCARE

-The average family's health costs will top $25K this year.

-The drug-resistant MCR superbug has been found in the US for the first time.

-A new US govt study has found a link between cellphone use and cancer in rats.

TECH MOVES

-Oracle says it will appeal yesterday's federal jury ruling that Google's Android operating system is not infringing on its copyrights.

-Facebook and Microsoft are teaming up to build a transatlantic fiber optic cable.

-In a growing sign of the link between Silicon Valley and Israel, United Airlines is adding flights between San Francisco and Tel Aviv.

DEFENSE

-Lockheed Martin is looking to partner with India for future production of its F-16's to reduce dependence on the Pentagon.

VENEZUELA MESS

-The Venezuelan government is encouraging city dwellers to start planting gardens to cut down on hunger.