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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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