US STOCKS-Wall St set to open little changed ahead of Fed statement
* Fed statement at 2 p.m. ET; Yellen conference at 2:30 p.m.
* Weekly mortgage application falls 5.5. pct
* FedEx down after results
* Futures up: Dow 40 pts, S&P 3.5 pts, Nasdaq 5.25 pts (Adds details, comment; updates prices)
By Tanya Agrawal
June 17 (Reuters) - Wall Street was set to open little changed on Wednesday as investors were reluctant to add to positions ahead of a Federal Reserve statement that could provide hints on the timing of a rate hike.
Investors will scour the statement for any signs of when the Fed is likely to begin raising interest rates and the pace of any subsequent hikes.
The Fed statement is due at 2:00 p.m. ET (1800 GMT), followed by Chair Janet Yellen's news conference half an hour later, with analysts expecting her to focus on signs the economy is recovering after a bumpy start to the year.
Many investors expect the Fed to signal that U.S. interest rates will be increased in September. Continuación...