Stocks struggled to a mixed finish Thursday as a two-week rally lost momentum. News of a retrenchment by FedEx Corp. also discouraged buyers.
Stocks have been rising for most of September, but on unusually weak volume as skepticism lingers about the economy. FedEx, an economic bellwether, darkened the mood with an announcement that it would eliminate 1,700 jobs in an effort to save its money-losing U.S. trucking business.
We’ve been talking about the markets trading at the higher end of the range, and the traders are feeling it. We were able to make a couple of moves in the portfolio though today.
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