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The Power Brief

Harold Hamm, CEO of Continental Resources Shale Oil Company
Alex Wong | Getty Images
Harold Hamm, CEO of Continental Resources Shale Oil Company

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

STOCKS/ECONOMY

-Stock futures are a bit down, threatening to end the Dow's winning streak. Econ data out today includes home prices, weekly jobless claims, and the Philadelphia Fed survey of mid-Atlantic economic activity.

-Intel shares are dragging the markets a bit after the company missed on revenues in its latest quarter.

-Gold is up a bit now after hitting a 3-week low overnight.

OIL/ENERGY

-Crude prices are mostly flat but holding well above the $45/barrel level.

-Gasoline prices fell another penny overnight to $2.18/gallon, national average.

ELECTION

-Sen. Ted Cruz did not endorse Donald Trump in his speech last night at the GOP convention. This drew loud boos from much of the crowd.

-GOP VP nominee Mike Pence's speech was the opposite. He praised Trump as a fighter and explained how the news media and the Democrats simply don't get him.

-Former House Speaker Newt Gingrich also backed Trump strongly in his speech that came immediately after Cruz's. He also focused on the theme that Hillary Clinton will refuse to keep America safe from Islamists.

-The Trump campaign's cash on hand jumped to $20 million from just $1.3 million last month. But that's still half the cash on hand figure for the Hillary Clinton campaign.

-Donald Trump has now officially funded his campaign with his own money to the tune of about $50 million.

-Fracking mogul Harold Hamm spoke at the convention, insisting that Hillary Clinton would kill jobs. Reports say that Trump is considering making Hamm Secretary of Energy.

OLYMPICS

-Russia has just lost an appeal of the ban against its Track and Field athletes at the upcoming Brazil Olympics.

MOVING AMERICA

-Southwest technology problems continue to cancel and delay flights.

-Elon Musk unveiled his new "master plan" for Tesla, including details on new car models and even ride sharing plans.

DEFENSE

-A highly in-demand functional and lightweight underwater drone made by General Dynamics is about to go into production.

-Demand for missile and missile defense systems is heating up across the globe.

GIG ECONOMY

-AirBnb has hired former Attorney General Eric Holder to help it stamp out charges of racism by its users.