In the earnings game, shipping giant FedEx (NYSE: FDX) said that it sees signs of a global economic improvement as international shipments increased, but also said that its bottom line will remain weak for the remainder of the year. FedEx said fiscal 2010 first quarter earnings dropped 53% with earnings of $0.58/share. The news sent the iShares Dow Jones Transportation Average (NYSEArca: IYT) up 0.2% in morning trading.
Overall, all three major U.S. indexes were in positive territory with the Dow Jones Industrial Average adding 0.4%, the S&P 500 jumping 0.3% and the Nasdaq gaining 0.2%.
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Kevin Grewal contributed to this article.