The Traderszone Network

Oil investors have been glued to the levels of storage tanks, which have been climbing steadily since the oil-price crash started last year. American stockpiles are more than 25 percent above their five-year average.

The Federal Reserve on Wednesday will likely discard a pledge to remain “patient” before hiking rates, replacing it with the word “flexible,” said widely followed investor Jeffrey Gundlach, co-founder of DoubleLine Capital. “Patience out,” Gundlach told Reuters in an email ahead of the Federal Reserve’s policy statement to be released at 2 p.m. EDT on Wednesday. Market participants are anticipating the Fed will likely drop the word “patient” from its statement with respect to raising interest rates, which could pave the way for a rate increase in June or September this year.

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Soon, some customers can get Starbucks caffeine jolts without leaving the office. Here’s what we know about delivery.

Markets

• European stocks are sitting at all-time highs.

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Wall Street widely expects the word “patience” to be dropped from the Fed statement as it signals pending rate hikes.

Stocks were drifting and trading lower as investors awaited an announcement an afternoon announcement from the Federal Reserve, which is concluding a two-day meeting. Speculation turns on whether the Fed will remove the word “patient” from its statement, clearing the way for the first interest rate hike in a decade. Look for volatility around the 2 p.m. ET announcement and a press conference by Fed chief Janet Yellen afterward.

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When a stock is down 57% in one day, it’s probably bad news. Here’s what’s happening with Willbros Group Inc.

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