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UPS and FedEx stocks jump after Trump opposes more funding for USPS
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<blockquote data-quote="cheryl" data-source="post: 4581525" data-attributes="member: 1"><p><a href="https://www.washingtonexaminer.com/news/ups-and-fedex-stocks-jump-after-trump-opposes-more-funding-for-usps" target="_blank"><strong>UPS and FedEx stocks jump after Trump opposes more funding for USPS - Washington Examiner</strong></a></p><p></p><p>The stock value of package delivery companies UPS and FedEx jumped Thursday after President Trump said he opposed more funding for the U.S. Postal Service over mail-in voting.</p><p> </p><p>Stocks for UPS and FedEx each shot up by more than $3 shortly after Trump's comments about not wanting to give additional funding to the Postal Service. The increase on Thursday represents a 1.5% to 2% jump in stock value for each company. Both companies have also had a stock spike since the end of July.</p><p></p><p>“It’s basic competition 101. If your competitor, a state competitor, is hurt, it’s an advantage for private companies in the same industry,” said Tim Wu, an antitrust professor at Columbia University. “It’s absolutely a boon for UPS and FedEx. It’s doubtlessly helpful to them.”</p></blockquote><p></p>
[QUOTE="cheryl, post: 4581525, member: 1"] [URL='https://www.washingtonexaminer.com/news/ups-and-fedex-stocks-jump-after-trump-opposes-more-funding-for-usps'][B]UPS and FedEx stocks jump after Trump opposes more funding for USPS - Washington Examiner[/B][/URL] The stock value of package delivery companies UPS and FedEx jumped Thursday after President Trump said he opposed more funding for the U.S. Postal Service over mail-in voting. Stocks for UPS and FedEx each shot up by more than $3 shortly after Trump's comments about not wanting to give additional funding to the Postal Service. The increase on Thursday represents a 1.5% to 2% jump in stock value for each company. Both companies have also had a stock spike since the end of July. “It’s basic competition 101. If your competitor, a state competitor, is hurt, it’s an advantage for private companies in the same industry,” said Tim Wu, an antitrust professor at Columbia University. “It’s absolutely a boon for UPS and FedEx. It’s doubtlessly helpful to them.” [/QUOTE]
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