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Stocks and oil slide...Housing market index, corporate earnings on tap today...British official promotes staying in EU



Estimated read time: 2-3 minutes

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HONG KONG (AP) — International stock markets sank and crude oil prices slumped today after an effort by major oil producing nations to agree on production cuts failed over the weekend. Futures point to a lower opening on Wall Street. Benchmark U.S. crude oil fell more than $1.25 to hover just above $39 a barrel. The dollar slipped against the yen and the euro.

WASHINGTON (AP) — The National Association of Home Builders will release its housing market index for April this morning. Also today, Pepsico will report quarterly financial results before the market opens. And Netflix will report quarterly earnings after the closing bell.

LONDON (AP) — British Treasury chief George Osborne says the country would be "permanently poorer" if it votes to leave the European Union in a June 23 referendum. Osborne says in an interview with the BBC that every household in the country stands to lose to the tune of 4,300 pounds ($6,100) and that's "a fact everyone should think about as they consider how to vote." The comments are based on a 200-page analysis of the long-term costs and benefits of EU membership and its alternatives.

WASHINGTON (AP) — A hot-button immigration issue is before the Supreme Court for oral arguments today. The Obama administration is asking the justices to allow two programs that could shield roughly 4 million people from deportation and make them eligible to work in the United States. Texas is leading 26 mostly Republican states in opposition.

BURBANK, Calif. (AP) — An executive from virtual reality company Oculus says consumers shouldn't be concerned about an invasion of their privacy when using the Oculus Rift. Jason Rubin , Oculus' head of worldwide studios, is downplaying questions raised about the VR system's privacy policy. Sen. Al Franken (D-Minn.) wrote an open letter to Oculus CEO Brendan Iribe earlier this month asking for details about user data collected by the new VR system, which is worn on users' heads and can detect movement, location and sound.

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The Associated Press

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