Fedex Stock News

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STATE OF THE MARKETS Dollar dived post-FOMC. As US stocks rebounded and pared earlier losses on Wednesday, Dollar (DXY) dived after Feds confirmed its plan to finish taper by March and three hikes in 2022. Dow (+1.08%), Nasdaq (+2.15%), S&P (+1.63%) and Russell (+1.65%) closed higher as investors expect year end rally to continue. Dollar was under pressure below the 96.50 mark while the 10Y yielded to 148 basis points. In the commodities market, crude was in a tight range of $71.50 $69.20/bl as markets remain uncertain on Omicron long term impact. Gold was subdued to $1,750/oz before bidders emerged and pushed the yellow metal back to $1,780/oz at writing as inflation concerns remained. Elsewhere, iron ore jumped to $109.20/tn as news hit the wire that China vowed to stabilize her economy. In the FX space, short and medium term traders turned bullish as the safe haven Swiss and Yen were sent to offers while Aussie, Kiwi, Sterling and Euro led the bids. Long term sentiments remained unchanged.

U.S. stock futures rose sharply in early Thursday trading after the Federal Reserve signaled it would be aggressive on tapering and sees three interest rate hikes in 2022. Futures for the Dow Jones Industrials jumped 210 points, or 0.6%, to 36,026. Futures for the S&P 500 grew 27.75 points, or 0.6%, to 4,728.25. Futures for the NASDAQ hiked 80.25 points, or 0.5%, to 16,366.50. Shares of companies that have done well in previous rate-hiking cycles led pre-market gainers. Materials stocks FMC Corp. and Freeport-McMoRan both rose more than 3% ahead of the opening bell. Bank stocks also rose across the board, with JPMorgan Chase, Citigroup and Bank of America all up about 0.6%. In transportation news, Delta Air Lines reported that it now expects to see a profit of $200 million in the fourth quarter, after previously projecting a loss. Shares rose 2.2% on the news. Health-care stocks UnitedHealth gained 3.1%, and Amgen rose 2.6%. Adobe and Accenture are scheduled to report quarterly earnings before the opening bell.

Futures pointed to a higher opening for Canada''s main stock index on Thursday, aided by gains in both crude and gold prices, while an upbeat economic outlook from the U.S. Federal Reserve boosted sentiment. The S&P/TSX Composite surged 120.59 points to close the midweek session to 20,769.16. Futures were up 0.6% Thursday. Canadian Imperial Bank of Commerce and National Bank said Wednesday they have asked staff in Canada to work remotely, joining Bank of Nova Scotia in halting plans for a return to offices amid growing concerns over the Omicron variant. CIBC raised the rating on Cineplex to outperform from neutral. Canaccord Genuity cuts the rating on Freshlocal Solutions to hold from buy. CIBC cut the rating on Manulife Financial to underperform from neutral. On the economic beat, Statistics Canada reported wholesale sales grew 1.4% in October to the highest level on record, 11.4% higher than in February 2020. Ontario sales and the motor vehicle and motor vehicle parts and accessories sub-sector drove the increase.

The United States Government yesterday donated a third tranche of Pfizer COVID-19 vaccines to Jamaica, consisting of 204,750 doses, bringing the US donation to date to 617,760 doses. The US Embassy in Kingston said since the start of this global crisis embassy has taken a strong mission-wide approach, contributing more than $1.8 billion (US$12 million) in support of Jamaica''s fight against COVID-19. The embassy, in a release yesterday, said "through the donation of vaccines, two field hospitals, medical supplies, motor vehicles and other essential equipment, the US Embassy continues to work with local partners to ensure we all come out of this stronger". Here the vaccines, which arrived at the Norman Manley International Airport in Kingston, have been offloaded from a FedEx plane.

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Consumers started Christmas shopping early, in October. But cost pressures will be in focus. FedEx stock rose ahead of earnings.

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On December 16, FedEx will report earnings from Q2. Wall Street predict expect FedEx will release earnings per share of $4.27. Go here to track FedEx stock price in real-time ahead of earnings. On December 16, FedEx will report

Fahad Abdulrahman Al-Mukhaizim KUWAIT: As part of its efforts to strengthen its leadership in the investment sector in Kuwait and the region, National Investments Co (NIC) achieved exceptional successes at all levels in 2021. Despite the economic repercussions and challenges due to COVID-19, the company concluded several M&A transactions, sell-side mandates and restructuring as well as general advisory mandates. In recent years, the IBS at NIC translated its tireless efforts into many successful deals, confirming its leading and prestigious position as one of the largest investment companies in Kuwait and the region. It also proved the success of an ambitious and effective strategy based on effective market presence, gaining customer trust, and promoting digital innovation in investment products and services. In this context, Fahad Abdulrahman Al-Mukhaizim, the Chief Executive Officer of NIC, said that NIC started the year 2021 with a strong pipeline of mandates, including several M&A transactions, sell-side mandates, restructuring as well as general advisory mandates.

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I worked a series of jobs that I knew werent right for my career. I ravaged my body moving packages around at FedEx for several years. I Continue reading on Medium »