If Fed Chairman Jerome Powell is looking for a happy anecdote for global growth ahead of his political announcement on Wednesday, FedEx's results may be a bitter disappointment.
of the parcel delivery service, which is widely regarded as a globetrotter, is hit after sales and adjusted profits fall below Wall Street estimates, and FedEx reduced its earnings estimate for the fiscal year 2019 for a second consecutive quarter.
"Weakening macroeconomic conditions and slower growth in world trade are continuing, as FedEx Express's international sales decline over the previous year," said Alan Graf CFO, ticking all the boxes for our call of the day , with its gloomy summary in the company's teleconference after the market close.
Note that strategists have emphasized the continuing momentum in the US The stock market will depend in part on the coming earnings season in the first quarter. If things get a little bit sour, Graf's words could follow us again in the coming weeks.
FedEx chief Fred Smith said in an interview later Tuesday that there were encouraging signs of domestic business and some "green shoots" on the international side. But there was a reservation.
"No question, if there is no solution to the Brexit and a solution to the US-Chinese trade dispute, it's unlikely that 1
While Brexit remains a complete mess, on Tuesday a worrying headline came on stocks, with a report that China was able to mitigate some of its trading promises. For Wednesday, stock prices are currently declining somewhat. FedEx could help, investors fancied the outcome of the Fed meeting and press conference with Powell, which expects to maintain the moderate status quo.
"The global supply chain remains under pressure and the market persists Ignore it because of the" global politics panics "of central banks," Steen Jakobsen, Saxo Bank's Chief Investment Officer, said in an e-mail suggests that correlations between "fundamentals" and the stock market are the lowest in a month, and this Northea chart referred to the round:
USD $ USD: FedEx's earnings are worsening the growth of the US and the world. Are we all doomed? Why does not it care about stocks? Https: //t.co/2ihgiejAzv pic.twitter.com/dUYv18seWU
– Martin Enlund @ (@enlundm) March 20, 2019
Fed Chairman Jerome Powell and his crew will make a decision next Wednesday and markets expect the cautious tone to continue, with some saying that if the central bank declines too far in this direction, g Investors panic that the global outlook may be doubtful and on the right track are the exits.
The final word goes to Seabreeze partner Doug Kass, whose announcement to clients on Tuesday raised a topic that investors played during the burning of Rome. He says they are ignoring the fixed income markets, where the yield falls on the 10-year Treasury note
dropped below 2.6%. As a rule of thumb, a decline in long-term bond yields can be seen as an expression of less confidence in the economy.
"Bond and bond yields suggest that global economic growth will disappoint in comparison to consensus expectations. The fixed income message is currently being ignored by equity investors, "Kass said.
As this US Federal Reserve's earnings loom, the Dow is
S & P 500
of the Nasdaq
are all inactive.
DXY, + 0.03%
is also stable, while gold remains
GCJ9, + 0.04%
failed. The yield of the 10-year Treasury note
Stocks in Europe
are mostly lower, while stocks in Asia had a lackluster meeting.
While stocks have been tightening since the beginning of the year, investors seem to have had few worries. That's at least the Cboe Volatility Index, also known as VIX
VIX, + 4.72%
to measure future volatility and fear in the marketplace. The VIX fell to below 12.5 on Tuesday, a level that has not been around for months, though it has not stayed there too long.
The level of around 12 for the VIX is below its historical mean of 19.28, but reached over 36 during the Christmas sale of the Christmas Stocks and during the financial crisis in the 70s and 80s.
Read: Should stock market investors pay attention to an increase in volatility?
A stock market that rises to a few without too many bumps and a falling VIX spell. However, our chart of the day of a charting enthusiast known on Twitter as oddstats underlines the dangers of using the VIX for market timing. His chart shows some strong rallies for the S & P 500 as the VIX recorded a similar decline as on Tuesday.
$ VIX became definitively under 12.50 for the first time in a while.
And if you think that would be a kind of contrarian indicator and a good time to be short.
– OddStats (@OddStats) March 19, 2019
Opinion: Get ready for the upcoming spike in the VIX  Buzz
General Mills has received better earnings news
whose shares rose to a 1-year high after exceeding forecasts and lifting the outlook.
991, + 0.69%
Google and Nvidia
NVDA, + 0.08%
unveiled several versions of a streaming future for video games at the Game Developers Conference in San Francisco. Meanwhile, Alphabet has been penalized with another EU fine, this time with $ 1.69 billion for restricting ads to third-party websites.
reportedly has a team of sports freaks working on a service that will provide streaming sports highlights.
Read: Nvidia reached its highest level in four months, when products were unveiled at the convention.
The Lion Air Boeing
BA, + 1.33%
737 Max, who crashed last year, was rescued the day before by a field-based pilot who discovered the flight control system was malfunctioning and helped the crew deactivate. reports about Bloomberg.
Capt. Sullenberger: "Our credibility as leader of aviation is being damaged"
Excitement over Lyfts
LYFT, + 0.00%
The now oversubscribed flotation could drive equities beyond the offer price on Friday.
crashed into Europe after a jury found that Roundup Weedkiller had caused a man's cancer, and will now determine whether his Monsanto unit should be held accountable.
Read: The lawyers who have taken over Big Tobacco are targeting real estate agents and their fee of 6%.
We receive an announcement from the Fed at 2:00 pm. Eastern, then Chairman Jerome Powell. It is generally expected that the central bank will stick to its cautious view, but will not signal a rate cut. Take a look at our preview here.
Opinion: The economic slowdown acts like a hiccup – but what then?
lowers Fed to 0% = bullish
Fed makes QE1 = bullish
Fed makes QE2 = bullish
Fed makes QE3 = bullish
Fed ends QE = bullish
Fed rises 9 times = bullish
Fed pauses after 9 rises = bullish
– GreekFire23 (@ GreekFire23) 19 March 2019
New Zealand shooter was on his way to a third attack when the police stopped him
& # 39; Dirty Doze & # 39; Report finds kale as a major offender when it comes to pesticide contamination
Woman sends message to Ms. Sen. John McCain, who says: glad he's dead
The British gallery says no to 1, $ 3 million from family accused have links to opioid crisis
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