Wall Street Update: The S&P 500 Ended A Five Day Winning Streak

Wall Street update: The S&P 500 ended a five-day winning streak on Wednesday as investors' optimism about global economic growth was countered by a steep drop in FedEx Corp shares, but the benchmark index managed to hover near all-time highs, reported Reuters.

FedEx shares tumbled 10 percent after the US parcel delivery company cut its fiscal 2020 profit forecast on heavy expenses, slowing global trade and fallout from its breakup with Amazon.com Inc.

The decline in FedEx shares weighed on the blue-chip Dow industrials. Shares of rival package delivery company United Parcel Service Inc fell 1.9 percent.

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