Is this the harbinger of thing to come?
My vote is yes. Economy is in the midst of a slowdown confirmed again.
From Reuters:
"The announcement came less than three weeks after its main rival, FedEx Corp (FDX.N: Quote, Profile, Research), reported a 7 percent decrease in quarterly earnings due to slowing U.S. economic growth and high fuel costs.
Both Atlanta-based UPS and Memphis-based FedEx are considered bellwethers of U.S. economic activity. "
I'm expecting more earnings misses to lead market to lower lows.
