Economics
Most U.S. Stocks Fall on FedEx, Economy as Investors Await ECB
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Most U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, amid a slump in FedEx Corp. and disappointing global economic data as investors awaited the European Central Bank’s plan to buy bonds.
FedEx, a barometer for the economy because it delivers goods from mobile phones to pharmaceuticals, slid 2 percent after projecting its first decline in quarterly earnings in almost three years. Facebook Inc. jumped 4.8 percent after Chief Executive Officer Mark Zuckerberg said he won’t start selling his holdings for at least a year. The Bloomberg U.S. Airlines Index soared 3.4 percent amid carriers’ improved performances.