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Stocks Mixed Ahead of Fed Decision; FedEx Profit Warning Clouds Sentiment

Martin Baccardax

Global stocks weaker ahead of today's Fed rate decision, with sentiment clouded by reports of tension in U.S.-China trade talks and a profit warning from Federal Express. Global oil prices were little-changed, with support coming from API data showing a surprise 2.15 million drawdown in domestic crude stocks and yesterday's move from OPEC to scrap its April meeting, raising the prospect of extending production cuts into the second half of the year. Dow futures suggest a modest opening gain slip ahead of the Fed rate decision at 2:00 pm Eastern Time and Chairman Jerome Powell's press conference 30 minutes later.