Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Wednesday, August 7th. I'm Julie Morgan. We're taking on more debt. The Democratic presidential

ticket includes someone pro marijuana and Hyundai is investing in Thailand.

According to the Federal Reserve Bank of New York's quarterly report on household debt and credit released on Tuesday,

total U.S. household debt climb $109 billion or 0.6 percent to 17.8 trillion dollars in

Q2 2024 from Q1. Compared with the year ago household debt rose by $733 billion or 4.3%.

The survey showed that consumers turned to home equity lines of credit to tap their

home equity rather than refinance at the current high interest rates.

He lock balances increased by $4 billion, the ninth straight quarterly increase since Q1,

2022, reaching $380 billion. Credit card balances stand out in this

report. Those balances increase by $27 billion to $1.14 trillion during the quarter, an all-time high.

Aggregate limits on credit card accounts rose modestly by $69 billion, or 1.4% from Q1, 2024.

The New York Fed said aggregate delinquency rates were unchanged from the previous quarter,

with 3.2% of outstanding debt in some stage of delinquency.

Over the last year 9.1% of credit card balances moved into delinquency.

Large Cannabis multi-state operators are higher after Vice President Kamala Harris

selected Minnesota Governor Tim Waltz as her running mate for the Democratic presidential ticket.

In May 2023, Walt signed into law and adult-use marijuana bill that also expunged

nonviolent cannabis convictions.

Sales in the state are expected to begin in Q1 of 2025.

Walt said at the time that by legalizing adult use cannabis,

they're expanding the economy, creating jobs, and regulating the

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