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The Power Brief

Loretta Lynch, U.S. Attorney General
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Loretta Lynch, U.S. Attorney General

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

STOCKS/ECONOMY

-Stock futures are down a bit after three straight 200+ point gains for the Dow. We get the June vehicle sales numbers today, along with ISM manufacturing figures.

-Much of the drag on the futures is because Chinese manufacturing numbers came in worse than expected.

THE PRICE OF FREEDOM (now 90% off)

Since the Brexit vote:

Dow: 18,011.07. The Dow lost 871 points over the next two sessions, and has recovered 790 points since then. (+90.7%)

S&P 500: 2113.32. The S&P 500 lost 113 points over the next two sessions,and has recovered 98 points since then (+86.7%)

Nasdaq 4910.04. The Nasdaq lost 316 points over the next two sessions, and has recovered 248 points since then. (+78.5%)

-The yield on the 10-year Treasury bond is all the way back down to 1.40%

-Gold is set to make its fifth weekly gain, and silver is at a 22-month high.

OIL/ENERGY

-Crude prices are flat and holding at the $48/barrel level.

-Gasoline prices held overnight at $2.28/gallon, national average.

-New Jersey's plan to raise gasoline taxes by 23 cents/gallon has been tabled for now.

CHOCOLATE WARS

-So far, Hershey's is rejecting the $23 billion takeover bid from Mondelez.

ELECTION

-Attorney General Loretta Lynch will announce today that she will accept and execute whatever action suggested by the veteran career FBI investigators in the Hillary Clinton email probe.

-Meanwhile, the questions about Bill Clinton's meeting this week with AG Loretta Lynch are not dying down.

-Several reports say Newt Gingrich and Chris Christie are on Donald Trump's vice presidential short list.

-The State Dept has asked for a whopping 27-month delay before handing over internal emails that document meetings between Hillary Clinton and Clinton Foundation Donors.

-Donald Trump admits that his trade plans would result in higher prices for consumers.

MOVING AMERICA

-Safety regulators are probing the death of a man who crashed while using the autopilot feature on his Tesla.

PUERTO RICO MESS

-Puerto Rico is expected to default on $2 billion in bond debt payments today.

TECH WARS

-A California jury has ordered Oracle to pay HP $3 billion because of damages to the Itanium server.

DEFENSE

-President Obama is trying to forge a new partnership or understanding with Russia in Syria.

-Raytheon's troubled and over-budget ground GPS system for the US military has triggered a regulatory review.