As the price of oil hit a 3 month low & Facebook stock hit an all-time high, the big story to hit the financial headlines today was an interview that appeared on CNBC with Terry Chan-head of S&P Global Ratings Analytical Research. The focus was on corporate debt and how it continues to pile up to the tune of $10 trillion dollars, due over the next several years. The $10 trillion dollars represents 20% of the $51 trillion dollars owed by companies around the world, which will mature between now and 2021. According to Terry Chan this scenario poses a very dangerous situation, financially speaking.
Here are the final numbers from Thursday, July 28th on Wall Street:
Dow Jones Industrial Average: 18,456.35 (-15.82 / -0.09%)
NASDAQ: 5,154.98 (+15.17 / +.30%)
S&P 500: 2,170.06 (+3.48/ +0.16%)