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US: Wall St opens flat as record-setting rally runs out of steam

US stocks opened largely flat on Wednesday as markets took a breather from a record-setting spree, while FedEx plunged after it cut its annual profit forecast for the second time this year.

The Dow Jones Industrial Average rose 24.28 points or 0.09 per cent at the open to 28,291.44.

The S&P 500 opened higher by 2.69 points or 0.08 per cent at 3,195.21.

The Nasdaq Composite gained 11.29 points or 0.13 per cent to 8,834.65.