International Paper manufactures packaging products. It accounts for roughly one-third of the North American corrugated packaging market. The company also has a substantial presence in Europe following its acquisition of DS Smith. International Paper serves a variety of end markets, including industrial, consumer products, and manufacturing.

International Paper manufactures packaging products. It accounts for roughly one-third of the North American corrugated packaging market. The company also has a substantial presence in Europe following its acquisition of DS Smith. International Paper serves a variety of end markets, including industrial, consumer products, and manufacturing.

International Paper is a global producer of renewable fiber-based packaging products with manufacturing operations in North America, South America, North Africa, and Europe. The company is based in Memphis, Tennessee. It has approximately 37,000 employees and serves more than 25,000 customers in 150 countries. The shares are a component of the S&P 500.

Stocks are headed higher at midday, this ahead of the three-day weekend. Sentiment related to the peace plan with Iran is overpowering other issues, be those issues tagged as 'good' or 'bad.' Of note is news that three oil tanker have now successfully crossed the Strait of Hormuz and oil prices are indeed receding (with crude now under $74 per barrel). Future headlines that might grab attention are the path of interest rates, the trend in inflation, the next round of earnings reports (which will be here sooner than later), and then, of course, the midterm elections. On that score, Wall Street tends to prefer gridlock in Washington. Currently, Republicans have control of all three major national political branches: the presidency, the Senate, and the House of Representatives. That seems likely to change, as incumbent parties tend to lose ground in midterm elections. Indeed, the latest forecasts from prediction markets website Kalshi.com give the Democrats a better-than-75% chance to take over the House of Representatives, while the GOP is poised to narrowly hold on to the Senate. Historically in midterm election years, stocks have stumbled in early autumn on the prospect for change. Average S&P 500 returns in the third quarter of midterm election years since 1980 are -1.5%, including a 5% slide in 3Q22. However, once the results are in, investors respond positively to the likelihood of potential Washington gridlock (meaning that the odds are low for major legislation changes on taxes, trade, regulations, the economy, or the markets). This positive sentiment is reflected in relative outperformance in the final months of the midterm year, as 4Q S&P 500 returns have averaged 4.1% in midterm election years since 1980, including an 8% pop in 4Q22.