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...song. The company will sell 10 percent of itself in a public offering later this year. And TIME Wall Street columnist Daniel Kadlec says this brown-paper package is going to go like hotcakes. "This is the most direct nondirect way to get invested in the Internet," he says. "Fed Ex stock has done very well as a way to cash in on the e-tailing boom through shipping ?- and UPS ships four times as many packages as Fed Ex. If they don?t price it through the roof, this is going to be a great stock...
Moved PermanentlyMoved PermanentlyFortune Investor DataDays like this have been rare lately, though, and one gloomy Tuesday hardly means they?ll be coming thick and fast in the near future. "The economy is strong, the Fed won?t raise rates in August, and earnings, as a whole, have been excellent," says TIME senior economic correspondent Bernard Baumohl. "There?s no real reason to be concerned about the stock market...
...Fed can take the rest of the summer off," says TIME senior economics reporter Bernard Baumohl, after Thursday?s CPI number confirmed the good news: Inflation is definitely back in the grave. The overall Consumer Price Index was unchanged last month, and the core rate ? which excluded volatile energy prices ?- increased a mere 0.1 percent. Both numbers came in under expectations, yet another assurance that the Fed has absolutely no need to throttle back on the money supply when it meets in August. "In fact, it doesn?t even need to meet," jokes Baumohl. "They don?t even have...
Moved PermanentlyMoved PermanentlyFortune Investor DataPrivately, Alan Greenspan can crow a little. With one eye on the so-called "new paradigm," in which tech-driven productivity gains naturally outstrip price pressures, and the other eye on a shaky Latin America, the Fed chairman isn?t anxious to raise rates. But some of his FOMC colleagues at that big mahogany table have been getting antsy about the Fed?s turning into a paper tiger, kowtowing to the stock market and letting the economy run wild and free. This week?s numbers give Greenspan a perfect reason not to listen. "There?s just...
...Brazil are killing it on exports because their goods are that much cheaper." If Argentina buckles under the pressure and devalues, the whole region will take a beating from the markets. The upside? If Thursday?s Consumer Price Index report holds form, you can bet the farm on the Fed's leaving rates alone in August. "Raising rates would push up the dollar, which would hurt Argentina even more." One less thing to worry about...