US STOCKS-Wall St opens higher 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
* Indexes up: Dow 0.29 pct, S&P 0.26 pct, Nasdaq 0.29 pct (Updates to open)
By Tanya Agrawal
June 17 (Reuters) - Wall Street opened moderately higher on Wednesday ahead of a Federal Reserve statement that could provide hints on the timing of a rate hike.
The Dow and the S&P 500, however, were lower for the month.
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. Continuación...