The Peter Shiff Show.

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mid mobile.com slash gold see mid mobile for details today potentially was a

significant day in the U.S. stock market.

It started off this morning just like a typical day.

We've had a string of new 52-week highs and in fact for the Dow Jones

Nasdek 100 it hasn't just been new 52-week highs it's been new all-time record highs. The Dow's high that

it set this morning was 37,562.83.

And, you know, initially the markets shrugged off

some bad news. They didn't really care. The markets. the markets were going up

were going up.

Before the bell we got earnings out of Federal Express.

And Federal Express opened up down about 10% or so,

and it ended up closing the day, down 12%.

But the 10% decline should have cast a negative shadow on the markets.

It's an important stock, kind of a bell weather of what's going on in the economy because so much of the US economy unfortunately

is comprised of consumption and most of the stuff that we're consuming is shipped either through Federal Express

UPS the post office think about all the online commerce everything that you

buy on Amazon on Walmart all that stuff is shipped and FedEx had a pretty big mess they missed on the top line they missed on the bottom line, and in fact year over year there was a decline, an

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