Capping off a week of gloomy commentary from American companies, the package-delivery giant — which arguably has a unique view into the global economy — said it too sees "head winds" in the second half of the year.
Like others that warned about a slowdown, UPS reported on-target earnings and kept its forecasts unchanged. But that's because of " technology and productivity investments" that are helping it manage through.
Its shares fell a little. Ford on the other hand lost 10% of its market value after it cautioned that carmakers were getting aggressive with incentives to lure in buyers — a sure sign that one big economic engine, auto sales, are peaking. Shares of other carmakers fell too.