--- title: "Mixed Macro Signals: FedEx's Cost Cuts, Affirm's Resilience and Silver's Rally" type: "News" locale: "en" url: "https://longbridge.com/en/news/294487425.md" description: "Amid mixed macroeconomic signals, logistics giant FedEx is prioritizing cost cuts while Affirm's consumer credit metrics unexpectedly beat estimates. Concurrently, safe-haven assets like Pan American Silver show continued resilience. This divergence highlights the complex landscape confronting Fed policymakers." datetime: "2026-07-31T09:22:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294487425.md) - [en](https://longbridge.com/en/news/294487425.md) - [zh-HK](https://longbridge.com/zh-HK/news/294487425.md) --- # Mixed Macro Signals: FedEx's Cost Cuts, Affirm's Resilience and Silver's Rally Economic data continues to flash mixed signals for policymakers. While logistics and healthcare sectors point to emerging cost pressures and cooling demand, consumer credit usage and precious metals assets suggest persistent resilience and inflation-hedging behavior. If this divergence in fundamentals continues, Federal Reserve officials could face a more complicated backdrop for their upcoming interest rate decisions. Movements in the logistics sector are often viewed as an early macro proxy for broader economic activity. FedEx Corp. (FDX.US) has been advancing its "Network 2.0" restructuring, confirming late July layoffs of more than 160 employees and facility closures in New York. Since 2022, the program has shuttered over 200 locations nationwide. This signals that the company is prioritizing cost reductions amid uncertain demand, leaving its shares trading in a volatile pattern recently. Landstar System Inc. (LSTR.US) provided similarly cautious signals; although the transportation provider posted revenue of USD 2.6B for the 26 weeks ended June 2026, its second-quarter EPS of USD 1.44 missed expectations. The company also stopped short of offering formal guidance for the third quarter due to a turbulent litigation environment, causing its stock to underperform the broader sector. By contrast, consumer credit and enterprise software spending appear to be holding up robustly. Affirm Holdings Inc. (AFRM.US) reported a fiscal third-quarter EPS of USD 0.30 in 2026, easily topping estimates of USD 0.17, with quarterly revenue rising 32.7% to USD 943.95M. Management indicated that active cardholders surged and the platform's Gross Merchandise Volume saw substantial year-over-year growth. This fundamental resilience suggests households are still actively utilizing buy-now-pay-later tools, fueling a recent strong run in the stock. Meanwhile, DocuSign Inc. (DOCU.US) posted total revenue of USD 830.2M for the quarter ended April 2026, up 9% year-over-year, while its annualized recurring revenue reached USD 3.27B. The board also authorized a USD 2B increase to its share repurchase program. This indicates that corporate outlays on digital agreement management remain intact, helping the stock stabilize and rebound in recent weeks. Against a backdrop of macro uncertainty and sticky inflation expectations, precious metals producers are reaping significant operating cash flows, leaving the door open to future production expansions. Pan American Silver Corp. (PAAS.US) generated USD 505M in operating cash flow and produced 6.44M ounces of silver in the first quarter of 2026. Exiting March with a record USD 2.4B in total available liquidity, the company introduced an enhanced framework to return up to USD 1B to shareholders, lifting its stock steadily alongside the broader commodities market. Wheaton Precious Metals Corp. (WPM.US) has also maintained strong momentum this year. The company reported 2025 actual production of 692K gold equivalent ounces, beating the upper end of its guidance, and set its 2026 forecast at 860K to 940K ounces, projecting an approximate 50% growth by 2030. This suggests institutional capital is increasingly leaning toward hard assets. In the healthcare space, Elevance Health Inc. (ELV.US) delivered second-quarter 2026 operating revenue of USD 49.8B and an adjusted EPS of USD 7.45. However, management warned that elevated medical costs and reimbursement pressures in its Medicaid business appear set to persist throughout 2026, and potentially into 2027. This clear cost-warning signal triggered a recent pullback in its share price. Taking an international view, Singapore Telecommunications (SGAPY.US) is navigating geopolitical and cross-border market challenges. Despite reporting a 40% surge in net profit to SGD 5.61B for the fiscal year ended March 2026, the company recently confirmed discussions over a potential stake sale in its Australian subsidiary Optus. Concerns over market consolidation hurdles have kept its stock under visible pressure recently. For micro-cap companies, the capital-raising environment remains highly sensitive and fragile. Elong Power Holding Limited (ELPW.US), a lithium-ion battery energy storage firm, closed public offerings of USD 6M and USD 6.6M in May and July to bolster its balance sheet, though its shares have remained depressed throughout the year. Similarly, China Pharma Holdings Inc. (CPHI.US) reported first-quarter 2026 revenue shrinking to USD 980K alongside a widened net loss of USD 1.14M. Following the announcement of a USD 5M registered direct offering priced at USD 2.00 per share, the stock plummeted by more than 60%. If the combination of resilient consumer spending and pocketed margin compressions persists, Fed officials are increasingly open to adjusting their economic growth outlooks. The market is now looking ahead to the next crucial juncture: the upcoming nonfarm payrolls and core Personal Consumption Expenditures (PCE) price index data. _This article does not constitute investment advice._ ### Related Stocks - [FDX.US](https://longbridge.com/en/quote/FDX.US.md) - [LSTR.US](https://longbridge.com/en/quote/LSTR.US.md) - [AFRM.US](https://longbridge.com/en/quote/AFRM.US.md) - [DOCU.US](https://longbridge.com/en/quote/DOCU.US.md) - [PAAS.US](https://longbridge.com/en/quote/PAAS.US.md) - [WPM.US](https://longbridge.com/en/quote/WPM.US.md) - [ELV.US](https://longbridge.com/en/quote/ELV.US.md) - [SGAPY.US](https://longbridge.com/en/quote/SGAPY.US.md) - [ELPW.US](https://longbridge.com/en/quote/ELPW.US.md) - [CPHI.US](https://longbridge.com/en/quote/CPHI.US.md) ## Related News & Research - [FedEx (FDX) Could Be 10% Undervalued After Shelf Filing And Strong Quarter](https://longbridge.com/en/news/293850798.md) - [Landstar (LSTR) Q2 Earnings Report Preview: What To Look For](https://longbridge.com/en/news/293874254.md) - [How Mixed Q2 Earnings and Higher EPS Guidance Will Impact Elevance Health (ELV) Investors](https://longbridge.com/en/news/294124186.md) - [Sunbelt Securities Inc. 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