DELIVERY SLOWS: FedEx warned that its profits would be hurt, citing weakness in its express package delivery business. That's a sign that FedEx's customers around the world are choosing slower, cheaper delivery options to save money. FedEx's stock fell $1.74 to $85.80.
WAITING FOR DRAGHI: European Central bank President Mario Draghi is expected to reveal details Thursday of a new bond-buying program aimed at cutting borrowing costs for Spain and Italy, the latest flash points in Europe's government debt crisis.
THE NUMBERS: The Dow Jones industrial average closed up 11.54 points at 13,047.48 on Wednesday. The Standard & Poor's 500 index fell 1.50 points to 1,403.44.