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US navy attacks and seizes Iranian cargo ship, with peace talks due to take place in Pakistan BBCIran war live: Tehran will skip talks as tensions rise over US ship seizure Al JazeeraIran cargo ship seized by US could become ‘spoils of war' CNNIran War Live Updates: Oil Prices Rise as Iran Vows Retaliation for Cargo Ship Attack The New York Times
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Powerful 7.4-magnitude earthquake strikes off Japan, tsunami alert issued AP NewsJapan: Tsunami warning after massive earthquake off north-east coast BBCMajor 7.5-magnitude quake hits off Japan, tsunami warning issued ReutersJapan earthquake live: Tsunami warning as earthquake hits off northeast coast Sky News
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Trump's Disapproval Rating Grows As Iran War Remains Unpopular, Poll Finds ForbesTrump's approval rating hits new low amid war and high gas prices MS NOWPoll: Trump's approval rating hits second-term low as Americans sour on the economy and Iran war NBC NewsTrump's approval rating drops over economy, Iran war in new poll USA Today
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Oil prices jump after Trump says Iranian ship seized BBCIran war live: Tehran slams US ‘piracy' after ship seizure, vows response Al JazeeraWorld weighs fate of Mideast ceasefire after US seizes Iranian cargo ship ReutersU.S. struck, seized Iranian-flagged ship Touska in Gulf of Oman, Trump says CNBC
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After a three-week-long rally that's brought the S&P 500 to new record highs, investors are again bracing for uncertainty following a whirlwind of weekend developments concerning the war with Iran.
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The Iran war may or may not be nearing a conclusion. But as far as the stock market is concerned, it's no longer been worth worrying about.
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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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President Trump's job-approval rating has risen, but many of his party's policy positions are viewed as out of the mainstream, the latest Wall Street Journal/NBC News poll finds.
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