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US Stock Futures Down After FedEx Profit Warning

Workers prepare to load a FedEx airplane
Scott Olson/Getty Images

NEW YORK (AP) – U.S. stock market futures are slipping after FedEx Corp. cut its profit outlook for the quarter ended last week, while the world waits for the latest move to stem Europe’s debt crisis.

FedEx said the weak global economy is hitting its revenue, while costs are rising, especially for fuel.

Dow Jones industrial average futures are down 19 at 13,031. S&P 500 futures are off 2.9 at 1,403. Nasdaq 100 futures gave up 7.8 at 2,766.

The European Central Bank is expected to reveal details Thursday of a new bond-buying program aimed at cutting borrowing costs for Spain and Italy, but some say expectations for the plan are too high.

Britain’s FTSE 100 is down 0.18 percent. Germany’s DAX is up 0.44 percent. France’s CAC-40 added 0.21 percent. Asian indexes closed lower.

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