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The Power Brief

A worker cuts a piece of pipe as he builds a new home in Petaluma, California.
Getty Images
A worker cuts a piece of pipe as he builds a new home in Petaluma, California.

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

STOCKS/ECONOMY

-Futures are lower after yesterday's late rally. A key housing starts report is out at 830am.

-The yield on the 10-yr. US Treasury is up to 1.6%.

-With mortgage rates falling sharply, banks are expecting a refi surge this summer.

-The Board of Economic Analysis is about to sharply revise down the national GDP figures from 2005-2015.

OIL/ENERGY

-Crude oil is up more than 1%, but still at the $46/barrel level.

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

-More environmental groups are backing off their long-held opposition to nuclear power.

BREXIT VOTE

-For some reason, market analysts seem to believe the murder of Labour Party Member of Parliament Jo Cox yesterday will somehow sway the momentum back to the"Remain" side in the Brexit vote. That's despite all indications th ekiller was a lifelong mental patient on psychiatric drugs.

ELECTION

-Bernie Sanders is not dropping out of the race and offered no real concessions to Hillary Clinton in a speech last night. He did say he'd help Clinton transform the party.

-A top Putin ally is backing Donald Trump for president.

TERROR/DEFENSE

-The Orlando terror shooter and his wife exchanged text messages during the shooting.

-In the wake of the shooting, many gun shops are reporting a spike in sales to gays and lesbians.

-51 State Department officials have signed a message to Pres. Obama urging him to order targeted air strikes against the Assad regime in Syria.

-Demand is growing for anti-drone detection and disabling systems for both military and commercial use.

SODA TAX

-Philadelphia has become the first big city in America to pass an added sales tax on sugary non-diet soda.

MOVING AMERICA

-Looking for the best sign that the Hyperloop might actually happen? Competition is heating up between the firm's hoping to manufacture the technology.