The stock price was already moving up ahead of this supply shock.
The drone attacks on Saudi oil operations even could influence the Fed's thinking on inflation and rates.
Here's two buy-setups: Costco and Mastercard.
The news on momentum stocks, bonds and oil has not roiled the market as many would expect.
Qurate Retail Group's chairman, CEO and media magnate John Malone each made significant buys totaling more than 1.9 million shares in the company -- that's a good sign.
The problem with the oil market is not one of supply, it is one of demand.
But the short-term overbought reading should lead to a market pullback, and that should be followed by another rally attempt.
The risks around oil have changed with the drone strikes in Saudi Arabia -- but while disruption in supply should be easily absorbed by the rest of the market, sentiment changed before price.
Aside from FedEx, here are several restaurant and food (including pet food) companies reporting earnings to watch this week.
Hanesbrands is one consumer cyclical offering a 3.8% dividend yield.