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CPI Report Live Updates: Inflation Cools to 3.5% Annually as Oil Prices Drop The New York TimesInflation Slowed to 3.5% in June, as Americans Got a Break From Gasoline Prices WSJA Better Day for Inflation, a Bummer for IBM Bloomberg.comStock futures are flat after soft inflation reading lifts market: Live updates CNBC
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Latest improvement on inflation isn't ‘mission accomplished,' Fed Chairman Warsh says CNNWarsh pledges Fed policy 'regime change' to rid inflation 'tax' on American people CNBCWarsh Tells Congress the Fed Has ‘No Tolerance' for High Inflation WSJ
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The largest banks in the United States collectively raked in tens of billions of profits in the second quarter, despite the war in Iran and persistent inflation.
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Warsh pledged Tuesday to "get monetary policy right" and defeat the inflation that has bedeviled the central bank for the past five years.
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Kevin M. Warsh, in his first testimony to Congress as chairman of the Federal Reserve, did not shed light on whether he supported higher interest rates to tame price pressures.
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The news of an improvement in consumer prices in June came as the U.S. and Iran escalated attacks, risking a return to high energy prices.
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Minutes from Kevin M. Warsh's first meeting as chairman showed heightened unease about inflation, which is running at a three-year high.
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Investors have plenty of worries - chief among them inflation and a potential recession. But the engine that ultimately drives the stock market is corporate profits. As long as earnings growth stays on track, then corporate America—and by extension, your stock portfolio—remains on solid ground.
Which is why the recent earnings preview from FedEx (FDX) was so unnerving. While the official report for the quarter ended August 31 comes out Thursday, FedEx warned on September 15 that it would have bad news, with quarterly results severely impacted deteriorating economic trends in Asia, Europe and the U.S. FedEx stock was immediately penalized, and is down more than 20% since this pre-announcement.
The key question for every investor is whether the shipping giant is suffering from a company-specific malaise or whether FedEx's problems are a broad-market bellwether portending widespread doom. "FedEx is no ordinary economic actor, as its business literally touches every corner of the global economy" says Sheraz Mian, director of research for Zacks, an investment research firm.
A Downgrade for FDX
Analyst Colin Scarola, at investment research firm CFRA, suspects that part of the problem at FedEx is that it failed to adjust operations in its Express division (50% of revenues) as more international passenger flights, which transport some air freight as well, came back online after the pandemic-related slowdown, raising competition. "We don't doubt that some of the poor performance is related to ongoing global economic headwinds and high inflation worldwide. But the extent of the decline at Express leads us to believe that poor operational execution is also at play," says Scarola, who has
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