What's Ahead Wednesday: FedEx And Williams-Sonoma Earnings in Focus

In 'What's Ahead on Wall Street' for Wednesday March 16, two companies will be on investors' radar. Both FedEx (FDX) and Williams-Sonoma (WMB) are expected to report results in the afternoon. Investors will be eagerly waiting for FedEx to deliver its quarterly report. Wall Street's estimates are for profits of $2.25 a share on revenue of almost $12.5 billion. Both the top and bottom line are expected to grow from a year ago. Traders will be closely eyeing the company's performance during the holiday season last year. Another factor in focus is capital spending. On the economic calendar, investors will get the weekly oil inventory data in the morning, along with the Fed's meeting announcement. Then in the afternoon, the Fed will release economic projections and shortly thereafter, Federal Reserve Chair Janet Yellen will hold a press conference following the central bank's latest policy statement. TheStreet's U-Jin Lee reports from New York.