LEI continues to support a strong economy. The Leading Economic Index jumped 0.2% in May, after being up 0.4% each of the past two months. This index comprises 10 components (e.g., jobless claims, factory orders, and confidence) to show a picture of future economic health. This is key indicator we use as a warning sign for a pending economic slowdown, and fortunately we see little reason to expect a recession over the next 12 months. Year over year, this index is up +6.1%, well above the negative year-over-year signal that has preceded every recession going back to the early 1970s. (LPL)

Banks pass stress tests. Round one of the Federal Reserve's required testing for banks deemed "systemically important" to determine how they'd fare under severe economic conditions showed all 35 institutions received a passing grade for required capital minimums; though a few firms cleared the hurdle by a relatively small margin. (LPL)

UPS and the Teamsters have reached a tentative agreement on a new five-year labor contract. The prior agreement expires on July 31. (CNBC)

General Electric near a sale of its industrial engine unit to private equity firm Advent International. (CNBC)

S&P 500 is down 11 and the NASDAQ is down 60. The MSCI international index is lower.

Oil is up 31cents at $68.90 a barrel.

Gold is up $1 at $1271 a Troy ounce.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.