Naz News, Gappers and FLE's

[sludgehound]

icon yes surprise & on oil up

Odd isn't it. Usually airs & transpos dump on rise in fuels.
May suggest market thinks stronger than expected underlying strength now & ahead. INTC points that way a bit too.
War drums may also be helping since more stuff will roll.
Ditto on the Shack but sure smells Bk. Best Buy in wind.

U.S. Lumber Futures Edge Higher, End Slump as Traders Assess Demand

Today 5:01 PM ET (Dow Jones) By Kelsey Gee

CHICAGO--U.S. lumber futures ended a weeks-long slump amid short-covering, as traders assess demand for building materials at relatively discounted prices.

Chicago Mercantile Exchange July lumber rose $5.20, or 1.8%, to $302.20 per 1,000 board feet, after notching the lowest closing price for any front-month contract since July 15 the day before. Lumber for September advanced $6.10 to $300.20 per 1,000 board feet.

A 3.5% slide over the past week amid weaker-than-expected demand from U.S. homebuilders was ended Thursday as investors trimmed bearish bets and covered short positions. Cash wood prices recently ranged from $305 and $310 per 1,000 board feet at the saw mill, according to traders, down sharply from the prior week.

Write to Kelsey Gee at [e-mail]

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(END) Dow Jones Newswires

June 12, 2014 17:01 ET (21:01 GMT)

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