Stocks waver in early trade ahead of Fed decision

U.S. stocks are little changed in early trading as investors wait for the latest policy action from the Federal Reserve.

FedEx rose 5 percent after the package delivery service reported that its income rose as growth in online shopping gave its ground-shipping business a lift.

Food maker ConAgra slumped 7 percent after predicting lower profits.

Later Wednesday the Fed will release its latest policy statement following a two-day meeting. Investors expect more cuts to its economic stimulus.

The Dow Jones industrial average was little changed at 16,808 points in early trading.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to 1,944. The Nasdaq composite was unchanged at 4,336.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 percent.

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