American Express Sinks Despite Strong Q3 as Provision Build Worries Some By

© Reuters. By Staff Shares of American Express (NYSE:) fell more than 6% Friday despite strong third-quarter results and outlook as investors were spooked by a reserve build and higher expenses in the quarter. Some analysts also pointed to slowing network volumes. The credit card provider posted net income of $1.9 billion, or $2.47 … Read more

European Stock Futures Weaken; U.K. Political Chaos, Recession Worries Weigh

By Peter Nurse – European stock markets are expected to open lower Friday, as rising bond yields reinforced expectations of an economic slowdown while U.K. political turmoil continued. At 02:00 ET (06:00 GMT), the contract in Germany traded 1.1% lower, in France dropped 0.9% and the contract in the U.K. fell 0.5%. European equity … Read more

Crude Oil Lower; Recession Fears, Chinese Covid Worries Weigh

By Peter Nurse — Oil prices fell Friday, ending a difficult week on a negative note on fears a global economic slowdown and further Covid restrictions in China will severely hit demand. By 09:25 ET (13:25 GMT), futures traded 1.9% lower at $87.38 a barrel, while the contract fell 1.7% to $92.96.  Both benchmarks … Read more

Pound Rebound to Fade on Worries Rate Hikes Unlikely to Rescue Battered Currency

By Yasin Ebrahim – The pound steadied Tuesday after plunging to a record-low a day earlier, but the respite is likely to run out of steam as some doubt whether a jumbo-sized rate raise including emergency hikes will save the beleaguered currency. rose 0.33% to $1.0711, after falling to a record of low of … Read more

HP Inc. Price Target Cut at Bernstein on Worries Over Printer Supplies Business By

© Reuters. By Sam Boughedda  A Bernstein analyst lowered the price target of HP Inc. (NYSE:) to $30 from $40, telling investors in a note Tuesday that printer supplies are the key driver of the company’s financials. The analyst, who has a Market Perform rating on the stock, added, “they historically generated nearly 100% of total … Read more

FedEx troubles set off fresh worries over global economy

New York, Sep 17 (IANS) The FedEx Corp (NYSE:).s warning of a sharp drop in package deliveries set off fresh worries among investors about the outlook for the global economy, sparking another down day in stock markets. The delivery giant’s shares lost 21 per cent on Friday, its biggest one-day percentage drop ever, after the … Read more

S&P 500 Slips as FedEx Profit Warning Triggers Fresh Global Growth Worries

By Yasin Ebrahim — The S&P 500 fell Friday, led by a FedEx-induced plunge in industrials after the shipments company’s profit warning triggered fresh worries about the global economy ahead of an expected Federal Reserve rate hike next week. The fell 1.1%, the fell 0.8%, or 244 points, the was down 1.4%. Industrials fell … Read more