Stocks slipped on Wednesday as a decline in FedEx tempered sentiment while investors braced themselves for a key Federal Reserve announcement.
FedEx shares fell more than 5.5 percent after CFO Alan Graf warned in the company's quarterly report that"slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our FedEx Express international revenue." These negative comments come as the U.S. central bank is widely expected to keep rates steady later in the session, with investors monitoring a decision on the Fed's rate projections for the next few years.
Stocks are up more than 12 percent this year in large part because the Fed said in January it would be"patient" in raising rates this year. However, Wall Street could be setting itself up for a letdown if the Fed does not indicate there will be no rate hikes this year as investors have priced in extremely favorable monetary policy conditions.
You mean brace for the lies? LOL were not buying it, literally
FedEx problems are fedex’s they are the worst shippers & should go out of business. I worked for a major retail chain & every time there was a lost or damaged item more often than not it was FedEx
Stocks traded in a wide range after the Federal Reserve slashed its rate-hike outlook for 2019 to zero and said it expects the U.S. economy to grow at a slower rate this year.
China may renege on Trade deal.
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