FedEx Stock Soars, Nikola Falls Again, and the Dow Is Up

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Stocks ticked higher in premarket trading Wednesday as Wall Street awaited the conclusion of the Federal Reserve’s two-day meeting. It isn’t expected that the Fed will change interest rates, but investors will be paying close attention to Fed Chair Jerome Powell’s news conference after the meeting to get a sense of how the central bank views the recovering economy.

Futures for the Dow Jones Industrial Average climbed 104 points, or 0.4%—matching percentage point gains in S&P 500 futures. Nasdaq Composite futures were up 0.2%. Oil climbed, with the price of West Texas Intermediate crude and Brent crude both up more than 2%.