Dow, S&P 500, Nasdaq stoop as Wall Road grapples with Fed’s message

Just like Nike’s (NKE) inventory this morning, large-cap play FedEx (FDX) is getting run over premarket by 7%.

And much like what Nike stated on its earnings name concerning the macroeconomic backdrop being unsure, FedEx CEO Raj Subramaniam supplied this evaluation:

“The present surroundings, nonetheless, is including uncertainty to demand. We proceed to work carefully with our prospects to assist them adapt to this evolving market,” Subramaniam stated.

The perfect the bulls can hope for is that early earnings reviews like this (and the airways two weeks in the past) sound the alarm bells loud sufficient on demand, and their shares get hit, resulting in the unhealthy macro information being priced in when earnings season kicks off broadly in late April.

Do not underestimate a commerce battle, buddies.