Cramer Is Keeping a Close Eye on FedEx Q1 Results Wednesday

TheStreet's Jim Cramer says investors should 'watch FedEx (FDX) for clues about the worldwide economy.' FedEx is slated to report its fiscal first quarter results before the markets open on Wednesday. Analysts polled by Reuters are expecting the global package delivery company to post earnings of $2.45 a share on $12.30 billion in revenue. In the same period last year, FedEx posted EPS of $2.12 on $11.68 billion in revenue. Cramer says the week is clearly overshadowed by the Federal Open Market Committee's decision on interest rates, but investors need to stay focused on FedEx because 'FedEx gives you the absolute best kind of economic worldview and the CEO is an economist.' FedEx provides transportation, e-commerce and business services domestically and internationally. Its stock is down almost 20 percent since it last reported quarterly results three months ago. Shares are down more than 11 percent year-to-date.