The poor economic news from abroad also hurt FedEx Corp.'s stock, which fell 4 percent. Chief financial officer Alan Graf said the current global economic environment and higher fuel prices are driving more customers to "trade down" or choose slower methods of shipping to save money, just like they did during the recession. Investors decided to focus on his comments, rather than the company's stellar performance. FedEx's quarterly profit more than doubled between December and February after it shipped more packages and charged higher prices.While news out of China has been bad for global company stocks, it may provide some relief to consumers with oil prices falling. Gasoline has risen 59 cents per gallon since Jan. 1 and the average price nationwide is above $4 in at least eight states, plus the District of Columbia.
US Futures Falling On Slower China Growth
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.