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The debt load for U.S. corporations has reached a record $6.3T, this according to S&P Global, as Wall Street investors brace for a stricter rate environment even as cash hoarding reaches a peak. The good news is that U.S. companies have a record $2.1T in cash to service that debt, however most of that cash is in the hands of a few giant corporations. (S&P)

 

Amazon is building out its own last-mile delivery service, pushing further onto the turf of shipping partners UPS and FedEx. The new program, called Delivery Service Partners, will let entrepreneurs run their own local delivery networks of up to 40 delivery vans emblazoned with Prime logos. (SA)

 

Today beings part 2 of the Fed’s annual bank stress tests, when lenders will learn whether they can boost buybacks and dividends to shareholders. Goldman Sachs and Morgan Stanley barely squeaked by on the first part last week, and some analysts remain concerned about Wells Fargo and Deutsche Bank.  The results come as the S&P 500 Financials Index fell for a 13th straight day on Wednesday - the longest losing streak on record - amid trade war worries and rising interest rates. (WSJ)

 

S&P 500 futures are down 2, and NASDAQ futures are down 9.  The MSCI international index is down about 1/5 of a %.

Oil is down $.23 at $72.53 a barrel. 

Gold is down $3 at $1253 an ounce.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor, I'm Josh Fenili.

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