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FedEx to raise wages

The markets extended its gains during the midday with the Dow soaring 120 points to 26,513. Nasdaq climbed 62 points to 7473.


FedEx joined a growing list of companies that will use savings generated from the new tax overhaul plan to increase pay. The package delivery service will spend approximately $200 million to raise wages for hourly workers and fund performance based incentive plans for salaried employees. The company will also contribute $1.5 billion to an employee pension plan and invest $1.5 billion to expand is Indianapolis hub and modernize its Memphis SuperHub.


Walmart has partnered with Japanese e-commerce company Rakuten to begin selling audio and digital books. Titles will be available through a co-branded app and Rakuten's Kobo e-Reader. Rakuten boasts nearly 6 million titles in its digital book store.


Taco Bell began selling a limited edition $1 nacho fries in order to compete against McDonald's $1 $2 $3 Dollar Menu, Burger King's Value Menu and Wendy's Right Price, Right Size menu. The fries are topped with a spicy seasoning then served with nacho cheese sauce. A Bell Grande size order comes with beef, pico de gallo, nacho cheese and sour cream.


In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by 6 to 5 on Nasdaq. The broader S&P 500 soared 21 points to 2,860. Bitcoin tumbled $132 to $11,017.


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