The markets were up a bit to start the trading week with a gain of 22 points to 26,112. Trading volume was lower on the Dow but higher for the NASDAQ. IBD has markets in rally mode.
The Paris Air show is under way and given Boeing’s recent troubles Airbus is looking to steal the show with the rollout of the A321XLR. What makes this year’s airshow different is the focus on the 737 Max and global trade issues. Boeing upped its 20 year estimate for airplane demand by 3% and while apologizing for the 737 Max, Boeing CEO Dennis “the Menace” Muilenburg said the Airbus A321XLR would only scratch the surface of the market potential in the midsize jet market of which Boeing is working on a new airplane to replace the 757 which it stopped making several years ago. So far it looks like Airbus has garnered orders for 114 jets while Boeing has gotten orders for 10 737-800 freighters.
On our Facebook page is a copy of the 68th annual BP Global Energy report. The bottom line is that both global energy production and demand is up. Production growth from US oil and gas producers is leading the way but global renewables are also growing at a rapid pace in the US, China and Europe. On the demand side BP said hot and cold extremes in weather is driving consumption. The “trend towards electrification” from electric vehicles, data centers and devices is significant. BP noted that power plants are switching to natural gas in the US and China but at the same time China is building coal plants in other nations and selling them the coal.
This past weekend the scouts hosted our annual yearend family camp at Camp Casey on Whidbey Island. 42 scouts were there along with almost 90 adults. It was a festive gathering and featured an auction, dinner and a court of honor. This year’s fire lighting ceremony was done via “the big match” which was four feet long and the scouts had worked on for a couple months. It worked really well. We had one kid get his eagle, three kids get life, one star and a huge number getting first and second-class rank. The troop now has 10 girls and they are actively getting rank advancement. My favorite joke by the scouts who were the MC for the court of honor was “Did you hear about the kidnapping in the woods? Its ok…. He woke up and hiked out!” ha-ha. See our Facebook page for some pictures.