Stock futures dip modestly after six-day rally, Obama speech
Stock futures edged lower Wednesday following President Barack Obama's pledge to explore Russia's diplomatic plan to remove chemical weapons from Syria, Reuters reports. The president also asked Congress to put off a vote on his request to authorize the use of military force in order to allow diplomacy to play out. "I don't see any compelling reason why the market should sell off here, and certainly with the potential international diplomacy bomb being defused, we will move sideways here for the next few days until we get the Fed next week," Keith Bliss, senior vice president at Cuttone & Co in New York, said in the article.
Cash-strapped postal service to rent mail vans
The U.S. Postal Service is looking to rent mail delivery vans because it can't afford to buy new ones, according to CNNMoney. The postal service has posted an advertisement to solicit federal contract bids to lease minivans and cargo vans. The article said that last year, losses were so bad the agency twice defaulted on payments owed to the federal government. Much of the problem stems from a congressional mandate that the postal service make annual $5 billion payments to retiree health care benefits, as well as to a decline in mail volume.
Analysis: Emerging-market investors get picky with Fed set to taper
Investors bracing for the Federal Reserve to wind down its monetary stimulus have fled emerging markets in recent months, Reuters reports, and although the impact of slow capital flows is likely to be felt for some time, some countries will fare much better than others. The U.S. central bank is expected to begin trimming its massive $85 billion per month bond-buying program as early as next week, the article said.