The Week Ahead: Fedex Earnings, Juneteenth Holiday & Jerome Powell Testifies

Closing Bell

We still have earnings on tap, fedex KB, Home Darden restaurants and Carmax all set to report fedex set to report fourth quarter earnings on Tuesday could see a jump in profits from extensive cost cutting efforts in the face of a shipping downturn. While starting late last year, the shipping giant shuttered offices cut jobs, reduced its fleet of cargo planes and even got rid of Sunday deliveries in hard to reach regions. It is hoping to improve its margins so it can better compete with its rival ups. Ok, Monday, the stock market behind me is closed for June to observe that federal holiday the day commemorates the end of slavery in the US. Specifically when enslaved black Americans in Galton, Texas were informed of their freedom after the civil war had ended President Biden signed a bill in 2021 declaring June 10th a federal holiday, also known as Freedom Day or Emancipation Day. And the World Economic Forum will announce its annual global gender gap report on Wednesday. The annual report is designed to measure gender equality and assess how well countries are doing in regards to resources and opportunities. Last year's report indicated it will take 132 years to close this important gender gap. Wednesday is going to mark the 75th anniversary of vinyl LP. And some other news on June 21 of 1948 Columbia Records introduced the micro groove 12 inch 33 a third rpm vinyl LP revolutionized record playback by extending the plane time by more than 20 minutes per side. Previous attempts by other labels had failed, but Colombia's format became the first successful launch leading to the birth of the modern vinyl LP. The inaugural recording on this format was uh Mendelsohn's violin concerto performed by the Philharmonic Symphony orchestra of New York. Very cool. Elsewhere, fed chair Jerome Powell is set to testify in front of the US Senate Banking Committee on Thursday marking the second iteration of the Fed's bi annual report on the State of Us monetary policy. The remark coming just a week after Powell's press conference where he spoke about the Fed's decision to pause rate hikes for the time being though he did forecast future hikes later this year. And Monday is the sort of take your pet to work week. Yes, all pets can participate. Always ask for permission though, before bringing a pet into the office. That's a good idea. Probably have a plan if they need to use the restroom. Uh or go to the bathroom would be a better way to put it for a pet. Uh You're gonna have a want to have a plan on how to take care of that pet overall in an exit strategy. In case things go south. I hope to see some pets in the stock exchange next week.