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Latest Business News: UPS Expects Second-quarter Profit Below Estimates

Wochit 0:48 mins

United Parcel Service Inc , the world's No.1 package delivery company, estimated second-quarter profit below analysts' expectations, hurt by overcapacity in the global air freight market and a slowing U.S. industrial economy. Producer prices rose more than expected in June, pointing to an apparent increase in inflationary pressures that could make the U.S. Federal Reserve more comfortable about reducing its monetary stimulus. U.S. stock futures are up the morning after stocks hit all-time highs in the wake of the Federal Reserve chairman's reassurance about continued support for the economy.

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