FedEx Warning Indicates Possible Top in S&P 500, Suggest Special Earnings Report by Profit Confidential

Along with the corporate earnings release from shipping giant FedEx Corporation came some dark clouds for the future, according to Sasha Cekerevac, contributor to popular financial newsletter and web site Profit Confidential. The company issued downbeat estimates for the rest of the year, which Cekerevac believes is a warning sign that a correction is close for the S&P 500.
In the article, What the FedEx Warning Means for Your Investments, Cekerevac notes that, with earnings season about to hit the markets shortly, he believes we could have a serious market correction if corporate earnings disappoint.
“They guided down future corporate earnings forecasts and I a lot of the issues they’re dealing with will impact many companies, leading to a market correction,” suggest Cekerevac.
Cekerevac notes that the firm lowered its global gross domestic product (GDP) growth estimates for the year down to 2.3% from 2.9% this past December. He also suggest FedEx is parking some of its planes out of service until it can see some positive world economic growth.
“That is a sharp drop in a very short period of time,” suggest Cekerevac.
Cekerevac believes many more companies over the next several quarters will issue warnings related to higher costs and the inability to transfer these costs to the customers.
“I we might’ve seen a double top here and your risks to the downside if we get a market correction are substantial,” suggest Cekerevac.
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Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit www.profitconfidential.com.

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.

Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter.

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