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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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That second-quarter growth came below Beijing's full-year growth target range of 4.5% to 5%, the least ambitious goal in decades.
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IBM's stock plunges after a preliminary release of profit and revenue that were well below expectations.
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Lightspring Capital Partners has held the final close of its second flagship fund on just over $218m, strengthening its position in the US lower middle market.
The post Lightspring Capital closes $218m second fund as lower mid-market specialist expands SBIC platform appeared first on AltAssets Private Equity News.
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Met Museum, several elite NYC prep schools among 76 buildings positive for bacteria behind Legionnaires' outbreak New York PostUpper East Side Legionnaires' outbreak: 76 buildings test positive for Legionella bacteria in preliminary testing ABC7 New YorkNew diagnoses slow in NYC Legionnaires' disease outbreak; source still unclear AP News
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The U.S. and Israeli attacks on Iran rattled world markets early Monday, with U.S. futures falling more than 1% and oil prices soaring.
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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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