FDX is certainly not the holy grail of analysis when it comes to the global economy. However, we cannot ignore what the market is saying about it either.
We already know for a while now that OPEC cut oil production due to a lack of demand globally. We also know that oil prices spiked due to the Russian invasion of Ukraine.
The US countered that spike in prices by using oil reserves and pumping up production to new all-time highs.
We know Europe is in stagflation while Asia (China) is in a recession.
Lastly, we know that massive amounts of deficits worldwide have been backstopping world markets from reflecting that weakness.
This break from a key area in FDX is just another indication that the world economy is weakening further.
We already know for a while now that OPEC cut oil production due to a lack of demand globally. We also know that oil prices spiked due to the Russian invasion of Ukraine.
The US countered that spike in prices by using oil reserves and pumping up production to new all-time highs.
We know Europe is in stagflation while Asia (China) is in a recession.
Lastly, we know that massive amounts of deficits worldwide have been backstopping world markets from reflecting that weakness.
This break from a key area in FDX is just another indication that the world economy is weakening further.
Comment:
Continues to push lower as expected.
Comment:
FDX is down another -4% today! Another Winner!
Real Macro Economic Investing
www.patreon.com/Realmacro
www.patreon.com/Realmacro