FedEx Reports: A Pulse Check for Global Shipping 19/03/2026

HOT stories for today

Market wrap:

• Wall Street is coming off a sharp selloff amid inflation worries and geopolitical tensions, souring sentiment. The Dow Jones Industrial Average dropped about 768 points, or 1.6%, on Wednesday to its lowest close of the year. The blue-chip gauge also finished below its 200-day moving average, a closely watched technical level that can signal a weakening long-term trend. The S&P 500 fell 1.4%, while the Nasdaq Composite lost 1.5%. The retreat followed a hotter-than-expected producer price report and higher inflation projections from the Federal Reserve, stoking concern that the war in Iran could push the U.S. economy toward stagflation — a mix of slower growth and persistent price pressures. 
• That backdrop also further dimmed hopes for monetary easing, even as Fed officials continued to signal one rate cut this year. Markets were pricing in a 52% chance that the central bank would leave rates unchanged through 2026, according to CME FedWatch. Investors are still looking for the market to regain its footing, helped by solid corporate earnings and a resilient consumer. For now, though, the main overhang remains the course of the Iran war. In corporate news, Micron delivered a blowout earnings forecast, but the chipmaker’s shares still fell, suggesting investor expectations had already run high. Darden Restaurants is scheduled to report before the open, and FedEx earnings after market close. On the economic calendar, traders will also watch weekly jobless claims and the Philadelphia Fed Manufacturing Index, both due Thursday morning.

Fed Holds Rates Steady as Oil and Inflation Cloud Outlook

• The Federal Reserve left interest rates unchanged on Wednesday, sticking to a cautious tone as officials weighed persistent inflation, mixed labor-market signals, and rising geopolitical risks. In a widely expected decision, the Federal Open Market Committee voted 11-1 to keep the benchmark federal funds rate in a 3.5% to 3.75% range. Updated projections showed slightly stronger economic growth and somewhat higher inflation, while the Fed’s closely watched dot plot continued to point to one rate cut this year and another in 2027. Stocks fell after the announcement as investors focused on the possibility that inflation could remain elevated for longer.
• Chair Jerome Powell said it was still too soon to know the full economic impact of the Middle East conflict, though he acknowledged that higher oil prices had pushed up near-term inflation expectations. The Fed now expects the economy to grow 2.4% this year, while inflation is seen at 2.7% before gradually moving back toward the central bank’s 2% target. For now, policymakers signaled patience, reinforcing the view that any path to lower rates will depend on clearer evidence that price pressures are easing.

Stocks on the move:

• Micron (MU): The chipmaker reported a sharp surge in quarterly revenue, which nearly tripled and beat analyst expectations. Adjusted earnings came in at $12.20 per share vs $9.31 expected, while revenue totaled $23.86 billion vs $20.07 billion consensus, according to LSEG. Despite the strong results, shares fell 4.6% in extended trading.
• Macy’s (M): The retailer rose 4% after posting better-than-expected fourth-quarter results. Macy’s reported adjusted earnings of $1.67 per share vs $1.53 expected, on revenue of $7.64 billion vs $7.62 billion, according to LSEG.
• Constellation Brands (STZ): Shares gained 1.1% after Citi upgraded the alcohol producer to buy from neutral, citing improving revenue trends and an attractive valuation.
• Williams-Sonoma (WSM): The home goods retailer climbed 6% after beating earnings expectations. The company reported $3.04 per share vs $2.90 expected, according to LSEG, and also raised its quarterly dividend by 15%.

Watchlist: BABA, MU, ACN, DRI, FIVE, NVDA, COIN, XOM

Key Economic Events Today:

EST time

08:30 am: USD Unemployment Claims
08:30 am: USD Philly Fed Manufacturing Index
10:00 am: USD New Home Sales



Earnings

BMO (Before Market Open): Alibaba Group (BABA), Accenture Pls (ACN), Darden Restaurants (DRI), Intuitive Machines (LUNR)

AMC (After Market Close): FedEx Corp. (FDX), Planet Labs (PL)



The TEFS Analyst team wishes you a successful day!