U.S. stocks closed mixed Wednesday after the Federal Reserve said the economy was strengthening enough for the central bank to continue cutting its stimulus. Bond yields rose after the government reported that the U.S. economy grew at a robust annual rate of 4 per cent this spring.
The Dow Jones industrial average slipped 31.75 points, or 0.2 per cent, to close at 16,880.36.
The Standard & Poor’s 500 index ended with a gain of 0.12 of a point, or 0.01 per cent, at 1,970.07.
The Nasdaq composite rose 20.20 points, or 0.5 per cent, to 4,462.90.
For the week:
The Dow is down 80.21 points, or 0.5 per cent.
The S&P 500 is down 8.27 points, or 0.4 per cent.
The Nasdaq is up 13.34 points, 0.3 per cent.
For the year:
The Dow is up 303.70 points, or 1.8 per cent.
The S&P 500 index is up 121.71 points, or 6.6 per cent.
The Nasdaq is up 286.31 points, or 6.9 per cent.