Highlights:

Return To Sender…

Shares of FedEx fell more than 9% during after-hours trading on news the company missed quarterly earnings estimates and lowered its 2020 guidance. On Tuesday, the company reported earnings for its fiscal first quarter, ending August 31, of $3.05 per share vs. $3.15 per share expected by analysts. The company also reported revenue of $17.05 billion, less than the $ 17.06 billion analyst has anticipated. According to the company, the earnings miss was due a weakening global economic environment caused by increase trade tensions and policy uncertainty. Fed Ex also announced it would lower its full-year expectations for the fiscal year 2020 projects earnings to between $10.00 to $12.00 due to the loss of a major corporation customer of FedEx ground.. think Amazon. FedEx is considered by many investors to be a predictor of the overall health of the global economy.

Rewarding…

Walmart and it’s new credit card issuer, Capital One are teaming up to make shopping at the retail discount giant “rewarding.”. The companies announced, Wednesday they will launch the Capital One Walmart Rewards Credit Card Program with two new cards offering up to 5% back on Walmart purchases. The program’s includes a MasterCard that will be accepted everywhere and a private-label Walmart Rewards Card which is good for only for store purchases. Walmart is taking a page from Apple and it’s new Apple Card by offering higher cashback earnings on select purchases made by mobile payments versus the physical card. The 5% cashback in-store offer, which is an introductory offer for the first 12 months, only applies to store purchases using Walmart Pay. After the introductory offer, the cards will offer 2% back on Walmart store purchases. Walmart.com purchases, including Walmart Grocery Pickup and Delivery, will give 5% back to customers. Current Walmart cardholders will be converted to one of the two new cards and can start earning the rewards Oct. 11 with Walmart Pay before the new cards arrive beginning in November, according to the news release

Markets:
Asia: Asian stocks closed mixed on Wednesday as investors awaited the U.S. Federal Reserve’s interest rate decision.
Europe: European stocks closed slightly lower on Tuesday as energy shares gave up a chunk of Monday’s big gains and banks lost steam ahead of a likely interest rate cut from the U.S. Federal Reserve.
U.S: U.S. stocks closed slightly higher on Tuesday as investors wait for the Federal Reserve to cut interest rates. DJIA: +33.98 27,110.80 NASDAQ: +32,47 8,186.02 S&P: +7.74 3,005.70

Word Of The Day:

Inflation

The rate which the general level of prices for goods, and services is rising while consumer purchasing power is falling.

Dinner or Drink:

Pumpkin Pie Martini

1/2 part DeKuyper® Buttershots® Schnapps
1/2 part Pinnacle® Whipped® Vodka
1/2 part Cruzan® 9 Spiced Rum
2 parts Half and Half
1/2 part Pumpkin Puree
1 dash Pumpkin Spice
Whipped Cream
Add ingredients to an ice filled shaker. Shake and strain into a martini glass. Garnish with whipped cream.

Highlights:

Strike…

The United Auto Workers union is leading its first strike against General Motors Co. in 12 years. The move comes as workers are digging in for a fight over jobs and benefits. The strike, which started at midnight, could cost GM about $50 million a day in earnings before interest and taxes due to lost production. While GM touted an offer to invest in plants across the U.S. and boost wages and benefits, UAW leadership has been rocked by a corruption scandal and needs to show willingness to bring the fight to an automaker that’s been scaling back its workforce. GM has offered $7 billion of investment in eight U.S. plants and more than 5,400 additional jobs, most of which would be new hires. But the union said GM’s proposal fell short in key areas including health care, use of temporary workers and the length of time it takes for shorter-tenured members to get to top-scale pay.

Gone…

Walt Disney Co.’s Chief Executive Robert Iger has resigned from Apple Inc.’s board of directors severing a long connection between the two companies as they prepare to launch competing video-streaming services. Mr. Iger, who has led Disney as CEO since 2005, joined Apple’s board in 2012 and was serving as the nominating-committee chair and on the compensation committee. The resignation came on the day Apple Chief Executive Tim Cook announced a $4.99 monthly price for its streaming service, Apple TV+. The price undercut Disney’s plan to charge $6.99 for its Disney+ service, also launching in November.

Markets:
Asia: Asian stocks closed mixed after oil prices surged.
Europe: European shares closed higher on Friday, after both China and the U.S. signaled the are willing to work on a trade deal.
U.S: U.S. markets closed mixed on Friday as moderating tensions between the U.S. and China eased fears about a potential recession. DJIA: +37.07 27,219.52 NASDAQ: -17.75 8,176.71 S&P: -2.18 3,007.39

Word Of The Day:

Money Manager

A business or bank responsible for managing an individual or institutional investor’s securities portfolio. Typically for a fee, the money manager, has the fiduciary duty to choose and manage investments which are prudent for his or her clients, including developing an investment strategy, and buying and selling securities.

Dinner or Drink:

Legends of The Fall

3/4 oz. Jack Daniel’s® Tennessee whiskey
3/4 oz. amaretto almond liqueur
2 1/2 oz. pineapple juice
1 oz. cranberry juice

Fill an old-fashioned glass with ice. Add all ingredients. Stir and serve.