{"id":293883,"date":"2022-09-16T17:09:20","date_gmt":"2022-09-16T21:09:20","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=293883"},"modified":"2022-09-17T10:30:12","modified_gmt":"2022-09-17T14:30:12","slug":"fedex-warning-chills-markets","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/fedex-warning-chills-markets\/","title":{"rendered":"FedEx warning chills markets"},"content":{"rendered":"

Late-Thursday, FedEx reversed its earlier optimistic forecast and issued a brutal pre-earnings statement that predicts a global recession. On Friday, FedEx<\/a> shares tanked by 21.32% and dragged down markets. The S&P finished Friday at -0.7%, the Nasdaq -1.6% and the Dow -0.4%. The indices finished the session with a modest uptick to soften the blow, but they shed 4-6% for the week with the Nasdaq sinking the most.<\/p>\n

Among the winners were Comcast<\/a> up 1.57%, Newmont<\/a> up 3%, Lennar<\/a> at 2.93% and Netflix<\/a> by 2.08%. Big laggards were Amazon<\/a> at -2.21%, Southwest Airlines<\/a> -5.64% and Expedia<\/a> -5.42%. The U.S. 10-year yield hovered around 3.448% as Bitcoin held around $19,700.<\/p>\n

Canadian stocks fare better with the TSX finishing Friday at -1.12% and down 2% for the week. Only consumer staples and telcos rose, while industrials led the losing sectors. New Gold<\/a> rose 3.54%, Labrador Iron Ore<\/a> 5.58%, and Tamarack Valley Energy<\/a> 3.29%. In contrast, Canopy Growth<\/a> closed -7.46%, Tourmaline Oil<\/a> -3.81% and Aurora Cannabis<\/a> -4.43%.<\/p>\n

📦 FedEx (FDX-N)<\/a> -21.32%
\n📺 Comcast Corp (CMCSA-Q)<\/a> +1.57%
\n🥇 Newmont Goldcorp (NGT-T)<\/a> +3%
\n🏛 Lennar Corp. (LEN-N)<\/a> +2.93%
\n📺 Netflix Inc. (NFLX-Q)<\/a> +2.08%
\n📦 Amazon.com (AMZN-Q)<\/a> -2.21%
\n🛫 Southwest Airlines (LUV-N)<\/a> -5.64%
\n✈ Expedia (EXPE-Q)<\/a> -5.42%
\n🥇 New Gold Inc. (NGD-T)<\/a> +3.54%
\n🏛 Labrador Iron Ore Royalty (LIF-T)<\/a> +5.58%
\n🛢 Tamarack Valley Energy (TVE-T)<\/a> +3.29%
\n🌿 Canopy Growth Corp. (WEED-T)<\/a> -7.46%
\n🛢 Tourmaline Oil Corp (TOU-T)<\/a> -3.81%
\n🌿 Aurora Cannabis (ACB-T)<\/a> -4.43%<\/p>\n","protected":false},"excerpt":{"rendered":"

Late-Thursday, FedEx reversed its earlier optimistic forecast and issued a brutal pre-earnings statement that predicts a global recession. On Friday, FedEx shares tanked by 21.32% and dragged down markets. The S&P finished Friday at -0.7%, the Nasdaq -1.6% and the […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-293883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/293883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=293883"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/293883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=293883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=293883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=293883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}