Loading…
Tuesday, September 16, 2014
Current Weather
Loading Current Weather....
Published: Wednesday, 6/18/2014 - Updated: 3 months ago

Stocks drift lower ahead of Fed meeting

ASSOCIATED PRESS

NEW YORK — U.S. stocks are drifting lower at midday ahead of the Federal Reserve’s latest policy update and outlook on the economy.

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.

Later today, the Fed will release its latest policy statement following a two-day meeting. Investors expect more cuts to the Fed’s economic stimulus program.

The Standard & Poor’s 500 index slipped less than a point to 1,941 just before noon.

The Dow Jones industrial average fell 33 points, or 0.2 percent, to 16,774. The Nasdaq composite declined six points, or 0.1 percent, to 4,331.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.64 percent.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories