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Regarding consumer consumption, $FDX's bulk of business is business-to-business related globally. Residential deliveries are increasing and are driven largely by e-commerce. Residential traffic represents about half of the volume in the network in the US. China is a big marketplace for $FDX, but as the impact was not good, the yields went up.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.