Salient to Investors:

Thomas Nyheim at Christiana Trust expects the market to flatten out until the election, slowed down by the European debt crisis is not being handled except by Band-Aids.

The S&P 500 is at 14.1 times estimated earnings, near its highest multiple since the end of 2010. Bearish index options contracts are the cheapest in more than three years.

FedEx quarterly earnings dropped for the first time in almost three years amid reduced demand for premium shipping services.

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