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The Power Brief

Suspected Islamic State terrorists attack Istanbul Airport

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

STOCKS/ECONOMY

-Stock futures are solidly higher as the rebound from Brexit losses continues. London's FTSE index is up another 2% today. We get the numbers on May personal spending and income for the US this morning.

-But US treasurys are still hot. The yield on the 10-year note is down to 1.45%.

-A new poll shows that 71% of Americans believe the economy is "rigged."

ISTANBUL ATTACK

-Turkey is blaming ISIS for yesterday's bombing of the Istanbul airport that left 41 dead. The airport is already reopened.

OIL/ENERGY

-Crude is up 1% to the $48/barrel level. A Norwegian strike threat has the bulls running today.

-Gasoline prices fell a penny to $2.29/gallon, national average.

-Energy Transfer is calling off its $33 billion merger with Williams Companies.

ELECTION

-Donald Trump made a major economic speech yesterday, outlining a seven point plan that included a promise to rip up major trade deals and renegotiate them.

-The NRA is funding a Benghazi-themed pro-Trump ad.

-Experts say Hillary Clinton's tech sector proposals are everything Silicon Valley is wishing for.

MUSK PUSHBACK

-Infuriated by Elon Musk's use of Tesla resources to effectively bail out his other company, Solar City, an investment group is calling for better oversight on the Tesla board.

AIRBNB

-AirBnb is raising new funds that value the company at $30 billion. That makes it the second most valuable startup in the US.

POT WARS

-An initiative to make recreational marijuana use legal in California will be on that state's November ballot.

DEFENSE

-Private equity firms are showing very strong new interest in defense companies, pushing more investment.

-Some needed good news for the F-35: it scored near perfect scores against the F-15i n mock combat tests.

-An Israeli-made unmanned surface vessel has successfully fired a torpedo. This is a military first.