Stocks were higher at Wednesday’s opening bell on hopes the Fed will leave the timeline of future interest rate hikes unchanged. The phrase ‘for a considerable time’ is what traders will be closely listening for when the Fed statement releases at 2 pm, Eastern. Policy makers are likely to hint interest rates are on track to rise next year. U.S. consumer prices hit their biggest drop in nearly six years last month. The Consumer Price Index fell 0.3% in November on tumbling gas prices. Economist were expecting a decline of 0.1%. Core CPI increased 0.1% as expected. FedEx (FDX) is starting the day sharply lower after delivering disappointing Q2 earnings and revenue results. General Mills (GIS) also missed revenue expectations. The Cheerio’s maker did however top profit estimates.
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