Stocks waver in early trade ahead of Fed decision
- Article by: The Associated Press
- Associated Press
- June 18, 2014 - 8:55 AM
U.S. stocks are little changed in early trading as investors wait for the latest policy action from the Federal Reserve.
FedEx rose 5 percent after the package delivery service reported that its income rose as growth in online shopping gave its ground-shipping business a lift.
Food maker ConAgra slumped 7 percent after predicting lower profits.
Later Wednesday the Fed will release its latest policy statement following a two-day meeting. Investors expect more cuts to its economic stimulus.
The Dow Jones industrial average was little changed at 16,808 points in early trading.
The Standard & Poor's 500 index rose two points, or 0.1 percent, to 1,944. The Nasdaq composite was unchanged at 4,336.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 percent.
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