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Follow on Google News | FedEx Warning Indicates Possible Top in S&P 500, Says Special Earnings Report by Profit ConfidentialAlong 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.
By: Michael Lombardi 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 think a lot of the issues they’re dealing with will impact many companies, leading to a market correction,” 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 says 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,” says 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 think we might’ve seen a double top here and your risks to the downside if we get a market correction are substantial,” Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market...before it plunged. Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%. To see the full article and to learn more about Profit Confidential, visit www.profitconfidential.com. Profit Confidential is Lombardi Publishing Corporation’ 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/ End
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