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Power Lunch

The Power Brief

Hillary Clinton
Steve Marcus | Reuters

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


-Stock futures are higher after yesterday's rally. The US productivity report is out at 830am Eastern.

-The S&P 500 is now within 1% of its all time high.


-Crude prices are mostly flat and holding at the $49/barrel level.

-Gasoline prices stayed at $2.35/gallon, national average.


-NBC News projects that Hillary Clinton has secured enough delegates to clinch the Democratic Party nomination.

Some are crying foul, though, as the announcement was made on the eve of the California primary and could be seen as a move to discourage Sanders supporters from turning out to vote today. And Sanders says he has nothing to concede.

-The high unpopularity of Hillary Clinton and Donald Trump is taxing the Secret Service as it works to protect them.

-The Florida Attorney General solicited and got a $25,000 campaign donation from Donald Trump just before deciding not to join a suit against Trump University.

-Only 52 tech workers in Silicon Valley have donated to the Trump campaign.


-Embattled Valeant Pharmaceuticals posted disappointing earnings and sharply lowered guidance this morning. The stock is down sharply in the premarket.


-Verizon is reportedly going to bid $3 billion for Yahoo's core businesses.


-CNBC has just unveiled its fourth annual list of Disruptor 50 companies. Uber and Airbnb top the list.


-California legislators are close to allowing illegal immigrants access to Obamacare plans.


-US gun sales broke monthly year-on-year records for the 13th straight month in May, but the margin of those records is shrinking. The slowing surge is hitting gun stocks.


-The effort to make defense contracts more fair to small businesses is making more progress through Congress.

-Canada may avoid its political problems with Lockheed Martin's F-35's by buying Boeing's Super Hornets as an interim solution for updating its air force.

-Israelis strengthening relations and defense cooperation with Russia as its relationship with the US has suffered during the Obama years.

-Pakistan is boosting its defense budget by 11%, or $8.2 billion.