×

The Power Brief

Strong earthquake kills 13 in Italy

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

STOCKS/ECONOMY

-Stock futures are flat after yesterday's slightly higher close. Oil prices are the main catalyst ahead of Fed Chair Janet Yellen's Jackson Hole speech Friday. We do get home price data a bit later this morning.

OIL/ENERGY

-Crude prices are down more than 1% to the $47/barrel level.

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

-The lower price of crude has left the world's biggest energy companies with record debt.

ITALY QUAKE

-A strong earthquake hit central Italy this morning. There is severe damage.

ELECTION

-Today's LA Times/USC poll shows Hillary Clinton leading Donald Trump by two points.

-Trump is intensifying his attacks on the Clinton Foundation after two new reports add fuel to the argument that the Foundation and the Clinton State Department were acting in tandem based on donations.

-Now the mainstream media is catching on to this story about how Bill Clinton made $17.6 million working for the nation's largest for-profit education company.

-Apple CEO Tim Cook is hosting a fundraiser for Clinton in Silicon Valley tonight. She will be there, of course.

HACKING WARS

-The New York Times says suspected Russian hackers targeted its Moscow bureau.

DEALS/NO DEALS

-Pfizer is buying AstraZeneca's antibiotics business for $1.5 billion.

TECH WARS

-Samsung says strong demand for its new Note 7 could cause supply delays. Its stock is down 2% on that news.

MOVING AMERICA

-Tesla announced new versions of its Model X and Model S vehicles late yesterday, but Kelley Blue Book isn't expecting them to be a sales game changer.

TERROR/DEFENSE

-The US and Turkey have launched a new bombing offensive against ISIS in Syria.

-The US and Europe believe Syrian President Assad may still have some chemical weapons.

-Turkey may soon allow Russia to use its Incirlik air base, which means they would be sharing the facility with US bombers.