US STOCKS-Wall St gains as FedEx, GE boost industrials

jueves 17 de marzo de 2016 13:01 GYT
 

* Dow turns positive for the year

* U.S. Fed sees 2 rate hikes in 2016

* FedEx soars after raising forecast

* Indexes up: Dow 0.78 pct, S&P 0.61 pct, Nasdaq 0.20 pct (Updates to early afternoon)

By Abhiram Nandakumar

March 17 (Reuters) - Wall Street edged up on Thursday as FedEx and GE shares lifted the industrials sector, a day after the Federal Reserve's lowered projection of two interest rate hikes in 2016 pushed the S&P 500 to its highest close this year.

The Dow eked out a small profit for 2016, while the S&P 500 was on the verge of crossing over into positive territory for the year.

Crude prices held onto strong gains as the dollar weakened and the market pinned its hopes on a plan by major oil producers to freeze output to mitigate a global glut.

The Fed, which left rates unchanged, pointed to moderate U.S. economic growth and strong job gains but cautioned about risks from an uncertain global economy. The central bank had laid out four hikes in 2016 when it raised rates in December.   Continuación...