WHAT FEDEX DELIVERED: A glum outlook for the economy. The big package delivery company said it’s seeing recession-like conditions. Still, after recovering from a morning dip, stocks barely moved.

APPLE $700: The iPhone maker topped $700 per share for the first time, closing at $701.9. Apple shares have risen more than 19 percent in three months.

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WHAT’S NEXT: Data on housing starts and existing home sales will be released Wednesday.