U.S. factory goods climbed 6.5% in June, the biggest gain in nearly three years. The bulk of the increase came from a 131.2% surge in orders for civilian aircraft. Excluding orders of transportation equipment, which rose 19% overall, durable goods orders edged up 0.2% last month. (Commerce Department)
With lumber prices at $405 it has broken $400/MBF for only the 2nd time in the last 12 years. So, why are lumber prices surging beyond already-healthy levels in mid-summer? The answer as always is supply and demand. This month the new boost in lumber prices is caused by extensive wildfires in British Columbia, accompanied by Canadian mill closures. (Sohn Report)
Coca-Cola plans to stop selling Coke Zero in the US in August, replacing it with a beverage with a different recipe, design, and name: Coca-Cola Zero Sugar. Coca-Cola Zero Sugar is already a hit outside the US, with growth figures reaching the teens. In the US, Coke Zero sales grew 3.5% in 2016, compared with Diet Coke's drop of 1.9%. (Yahoo)
Join us this weekend for Financial Focus Radio when we will talk about these record markets.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.