Your Weekly Market Blip 6/15/18

Your Weekly Market Blip 6/15/18

Trading volume shot through the roof as options expired today. The Dow traded lower and at one point was off over 200 points as trade tariffs against China were put into place but then toward the close the Dow rallied a bit and ended with a loss of 84 points to 25,090. For the week the Dow fell 0.9% but remains over the 25k mark and both BTS and IBD indicators are green.

Lumber prices traded flat for the second week in a row. After hitting a new high of $583 on Wednesday the lumber price index closed the week at $582 up from $398 a year ago. Shipping times are improving, and demand continues to be robust.

Oil prices fell over 3% as rumors that OPEC will start pumping more oil continue to persist. OPEC meets next week and it is expected they will announce an oil production increase. At the close WTI crude fell 3.3% to $64.69 per barrel.

Now that AT&T has won approval to buy Time Warner they are moving swiftly to consummate the deal. AT&T is conduction a share exchange and projects annualized cost savings of $2.5 billion. It also expects accretion this year to both cash flow and earnings per share. The company is forecasts a stronger dividend coverage. The move toward 5G will now become the focus as Ma Bell tries to merge content with the ability to watch a movie on a tiny screen anytime and anywhere.

Troop 100 is entering a new phase of existence. After 75 years the troop this week has voted to allow girls to join starting next year and experience being wet, miserable, tired, hungry and cold. There were many opinions on the matter. One mom who is a self-proclaimed feminist was opposed to the move because “the boys needs their space”. Others were in favor because they have daughters who are jealous that their brothers are getting to do cool things like shoot guns, swim in mountain lakes, climb rocks and cook spam over a fire. We shall see how it goes.