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The Power Brief

An island outpost, one of several, being built by China in the South China Sea.
Reuters

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

STOCKS/ECONOMY

-Stock futures are higher this morning after yesterday's new all-time high close for the S&P 500.

-The yield on the 10-year Treasury note has rebounded to 1.48%.

OIL/ENERGY

-Crude prices are up 2% to the $45/barrel level.

-Gasoline prices fell another penny overnight to $2.22/gallon, national average.

CHINA DISPUTE

-A Hague tribunal has ruled China's economic South China Sea claims are unfounded. This is a win for the Philippines and US policy.

ELECTION

-Hillary Clinton's lead over Donald Trump is down to three percentage points in the latest NBC News poll. It was a five point lead last week.

-Bernie Sanders will campaign with and endorse Hillary Clinton today.

OBAMACARE

-President Obama is calling for a government-run public option within the Affordable Care Act.

TOO BIG TO JAIL?

-A new Congressional report says the Justice Department chose to settle a money laundering case with HSBC because it thought it was essentially too much of a risk to the financial system to prosecute the bank.

TESLA TROUBLES

-The SEC is reportedly probing Tesla for not reporting the deadly crash of one of its cars in autopilot mode quickly enough.

CAR LOAN FEARS

-Top US regulators are voicing concerns about the explosion of riskier and more expensive car loans.

LABOR LAWS

-The US Chamber of Commerce says California's too many labor regulations and "worker protections" are hurting the state's economy.

DEFENSE

-Iranian gun boats came provocatively close to a US warship in the Straits of Hormuz yesterday.

-The robot used to kill the Dallas cop killer is made by Northrop Grumman. It sells for $151,000.

-Raytheon CEO Thomas Kennedy says Iran and ISIS are fueling increased demand for his company's missile systems. He expects revenues from that division to grow 3% to 5% this year to near the $25 billion mark.