Wall Street rebounds from recent losses, Dow rises 200 pts; Fed in focus

FedEx falls on profit drop, forecast cut; Energy stocks lead early gains

U.S. stock indexes rebounded from recent losses on Wednesday as concerns over a default by China's Evergrande eased, with investors now awaiting policy cues from the Federal Reserve's meeting later in the day.

Evergrande's main unit said it had negotiated a deal with bondholders to settle interest payments on a domestic bond, which helped calm fears of an imminent default that could unleash global financial chaos.

Energy stocks were the best performers in early trade, rising 2.8% as oil prices rose, while financials added 1.3%, with major banks tracking higher Treasury yields.

Still, Wall Street indexes are nursing steep losses in September, as