US stocks edge up on productivity gains

NEW YORK (AP) ? U.S. stocks are mostly higher at the open after the Labor Department said U.S. companies got more productivity from their workers this spring than originally estimated.

The Dow Jones industrial average is up 20 at 13,056 minutes after the opening bell on Wednesday. The Standard & Poor’s 500 index was up less than one point at 1,405. Nasdaq gave up two points to 3,072.

Weighing on the market was news that FedEx cut is profit outlook for the year, citing weakness in the global economy.

Tempering losses from worries on the economy was a report that said U.S. workers’ productivity increased at an annual rate of 2.2 percent in the April-June quarter, up from an initial estimate of a 1.6 percent gain.