Increased shipping is a good economic sign

[Jeffersons Ghost]

FedEx posts higher profit as economy recovers

(Reuters) - FedEx Corp (FDX.N) reported a quarterly profit on Wednesday that beat analyst expectations, but said costs would constrain its 2011 earnings, sending its shares down in premarket trading. The company projected 2011 earnings per share in the range of $4.40 to $5.00.

"We expect the growth in earnings in fiscal 2011 to be constrained," Chief Financial Officer Alan Graf Jr. said in a statement, citing increases in fixed pension and aircraft maintenance expenses, in addition to higher anticipated healthcare costs.

"The consensus is above the top end of that range," BB&T analyst Kevin Sterling said of the outlook. "So that tells you that estimates need to come down. What's constraining their earnings is their costs."

http://www.reuters.com/article/idUSTRE65F2NX20100616

Isn't economic recovery on the wake of Big Business causing the worst environmental disaster in history an odd coincidence?

[marmar]

1. .......

Baltic Index May Fall Back to April Levels: Technical Analysis
June 16, 2010, 3:45 AM EDT


By Alistair Holloway

June 16 (Bloomberg) -- The Baltic Dry Index, a measure of commodity-shipping costs that’s tumbled 28 percent during its longest losing streak this year, may decline further, according to technical analysis by Barclays Capital.

The gauge fell to 3,020 points yesterday, extending a 13- day fall on speculation weaker Chinese construction may curb raw material demand. That may include iron ore, more of which is hauled at sea than any other dry-bulk commodity. The attached chart shows the index’s 200-day moving average of 3,164. It fell as low as 2,911 points in April, 3.6 percent less than now.

“The market is running down to its lows from April,” Philip Roberts, a technical analyst at Barclays Capital in London, said by phone. On June 14 it went “below its 200-day average, which is a bearish signal and suggests those lows are going to be tested again.” ............(more)

The complete piece is at: http://www.businessweek.com/news/2010-06-16/baltic-index-may-fall-back-to-april-levels-technical-analysis.html

[Jeffersons Ghost]

2. I'm no expert, but these two signs put together could mean more money is staying in America...

Isn't the Baltic Dry Index international, while FEDEX is a more national indication?

[marmar]

3. In a globalized economy, it's only a matter of time 'til it crosses oceans.

nt

[fasttense]

4. Economic recovery in the wake of the highest bankruptcy rate in US history

is also amazing.

It's simply amazing how the American economy can recovery while leaving millions of American families unemployed. I guess they don't really matter to the American economy.