"Economists polled by Reuters had expected import prices to fall 0.5% last month. In the 12 months to November, import prices fell 1.6%," the news service reported.
"Stripping out fuels and food prices, import prices dipped 0.1% as the cost of capital goods fell by the most since March 2010 and automobile prices were flat, indicating that broader inflation pressures remained benign.
"The global economy is restraining prices here and abroad. This indicates global demand is soft and will remain soft in the near term," said Gus Faucher, a senior economist at PNC Financial Services in Pittsburgh. "This adds to the perception that inflation is not a concern."
Meanwhile, The Wall Street Journal reported Wednesday that at least one FedEx (FDX) employee suspected the worldwide delivery company was overcharging customers in 2011.This became public when some internal emails were used in a lawsuit that accuses FDX of overcharging business customers by improperly "...assessing them residential surcharges. The emails were released by a federal judge in Memphis Monday. Evidently a company sales rep in Scottsdale, Ariz., complained in an email to a superior his belief that FDX had been "systematically overcharging our customers for residential delivery fees." The Journal quoted the sales rep saying, "I have brought this to the attention of many people over the past five years, including more than one managing director and no action has been taken to address it." A FedEx spokeswoman, Sally Davenport, said in an email to the newspaper on Tuesday that FedEx "highly values" its relationships with its customers (both business and residential). These "documents do not tell the entire story of this case." Davenport was also reported to have written that FDX "will continue to defend these allegations in a court of law." She made it clear that customers with billing concerns can pursue refunds online or call the company. The important point to remember here is that these are "allegations", not proven facts. On Wednesday, Link and Jim Cramer wrote to their subscribers that FDX is set to report earnings on Dec. 19 before the markets open. Consensus expectations are calling for earnings per share of $1.41.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV