Overnight: US stocks finish slightly lower, FedEx bids for TNT Express

U.S. stocks ended slightly lower on Tuesday, reversing course late in the session as strength in the dollar offset optimism about deal news. The S&P utilities sector, which helped lead gains on Monday, was the biggest drag on the S&P 500, closing down 1.1 percent. The dollar recovered from recent losses, reaching session highs in afternoon trading. That shifted investor focus again to worries about its impact on U.S. earnings. "If the (dollar) move is gradual it shouldn't impact stocks too much, as companies will have a chance to hedge against the impact, but a sharp rise will have an impact," said Tony Roth, chief investment officer at Wilmington Trust in Wilmington, Delaware. Stocks were in positive territory for most of the session, lifted by deal news that suggested companies still see value in the market. Shares of FedEx rose 2.7 percent to $171.16 as it seeks to buy Dutch package delivery company TNT Express for $4.8 billion. (VIEW LINK)


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