FedEx Corporation (NYSE: FDX) reported fiscal second-quarter earnings of $500 million, or $1.57 a share, compared with $438 million, or $1.39, in the same quarter a year ago. Shares of FedEx fell 0.06 percent to $139.07 in morning trading.
Wall Street edged higher on Wednesday as investors wait to hear whether the Federal Reserve will announce tapering its stimulus program. The FOMC is scheduled to release its policy statement at 2 p.m. Eastern, followed by a news conference at 2:30 p.m. Eastern from Fed Chairman Ben Bernanke.
The economic calendar on Wednesday showed housing starts soared to nearly a six-year high in November. Housing starts jumped 22.7 percent, the highest level since February 2008, to a seasonally adjusted annual rate of 1.09 million units, the Commerce Department said.
The Dow Jones industrial average rose 58.82 points or 0.37 percent, to 15,934.08. The S&P 500 Index was up 3.20, or 0.18 percent, to 1,784.08. The Nasdaq Composite added 3.55 points or 0.09 percent, to 4,020.17.