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The Power Brief

Jeff Bezos
Asa Mathat | Vox Media
Jeff Bezos

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

STOCKS/ECONOMY

-Stock futures are down ahead of this morning's report on the GDP. The expectation is for 2.6% second quarter growth.

-Amazon shares will be in play after strong earnings that made founder Jeff Bezos the world's third richest man.

-Google parent Alphabet will also be in focus today after posting strong earnings.

OIL/ENERGY

-Crude prices are down some more today and now at the $40/barrel level.

-Gasoline prices fell a penny overnight to $2.13/gallon, national average.

TECH WARS

-Microsoft is cutting 2,850 more jobs over the next 12 months.

TERROR/DEFENSE

-Two San Diego police officers have been shot, one of them killed and suspects are still at large. The city will not say if this was another ambush situation.

-China and Russia will hold joint military exercises in the South China Sea.

-The Air Force is finally close to declaring the F-35 to be combat ready.

-French President Hollande wants to create a new national guard to fight terror inside France.

ELECTION

-Hillary Clinton kept away from specifics in her DNC acceptance speech last night and made the case for a more optimistic view of America.

-Hackers have reportedly targeted the donor list for House Democrats.

-Hedge fund owners and employees have donated $48.5 million to Hillary Clinton and $19,000 to Donald Trump.