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The Power Brief

A trader from BGC, a global brokerage company in London's Canary Wharf financial centre reacts during trading June 24, 2016 after Britain voted to leave the European Union in the EU BREXIT referendum
Russell Boyce | Reuters
A trader from BGC, a global brokerage company in London's Canary Wharf financial centre reacts during trading June 24, 2016 after Britain voted to leave the European Union in the EU BREXIT referendum

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

STOCKS/ECONOMY

-Stock futures are solidly down, as the markets continue to react to the Brexit vote.

-But the major Asian markets closed nicely higher.

-The yield on the 10-year Treasury note is all the way down to 1.46%.

-Gold is up a bit more to the $1,330/ounce level.

-"Restaurant visit growth," in other words: how often we eat out, has come to a halt in the US over the last three months. That's a chilling sign for consumer economic confidence.

BREXIT LATEST

-The political upheaval in Britain is just as sharp as the financial. Now that PM David Cameron is resigning, pressure is mounting on Labour Party leader Jeremy Corbyn to step down as well.

-Moody's is downgrading Britain's debt rating and growth forecasts.

OIL/ENERGY

-Crude prices are flat and holding at the $47/barrel level.

-Gasoline prices are down to $2.30/gallon, national average.

-Several East Coast states want to start taxing drivers not by the gallon, but by the number of miles they drive.

ELECTION

-Hillary Clinton says the Brexit vote proves the US needs steady and experienced leadership, thus firmly doubling down on herself as the "status quo" establishment candidate.

-Clinton has a small overall lead in the new NBC/WSJ poll, a 10-point lead in the ABC/WashPost poll, and CBS says the polls are very close in the battleground states.

-Former Bush Treasury Secretary and Goldman Sachs CEO Hank Paulson has endorsed Hillary Clinton, firmly casting her as the cross-party, establishment, Wall Street candidate.

DEFENSE

-Several experts believe the Brexit vote will weaken NATO and strengthen Russia.

-Several veterans groups are lining up to oppose proposals to privatize veteran health care.