SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Sep 28, 2012) - The S&P 500 Index has risen roughly 15 percent year-to-date on a string of better-than-estimated earnings. The index on Tuesday experienced its biggest slide in three months after comments made by a Fed official criticized the effectiveness of recent stimulus measures. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Kraft Foods Inc. (NASDAQ: KFT) and FedEx Corporation (NYSE: FDX).
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"We are unlikely to see much benefit to growth or to employment from further asset purchases," Plosser said in a speech today at the district bank in Philadelphia. "Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed's credibility." stated Federal Reserve Bank of Philadelphia President Charles Plosser.
Wednesday was the fifth consecutive day of losses for the S&P 500 Index, the longest streak since July, as concerns regarding Europe's debt crisis continue to grow. Anti-austerity protests in Spain and Greece and an unexpected decline in German consumer confidence in September have suggested that the euro-zone debt crisis is far from under control.
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Kraft Foods will complete the spin-off of Kraft Foods Group, Inc. (which will hold the North American grocery business) at 5 p.m. EDT on Oct. 1, 2012. It was recently reported that Kraft Foods Group will replace Alpha Natural Resources in the S&P 500. Kraft Foods, which will change its name to Mondelez International, will remain a member of the S&P 100 and the S&P 500.
FedEx shares fell sharply last week after the company slashed their full year fiscal 2013 profit targets, citing a weak global economy. "Weak global economic conditions dampened revenue growth (and) drove a shift by our customers to our deferred services," Chief Financial Officer Alan Graf said in a statement.
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