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 percent this spring.
The Dow Jones industrial average slipped 31.75 points, or 0.2 percent, 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 percent, at 1,970.07.
The Nasdaq composite rose 20.20 points, or 0.5 percent, to 4,462.90.
For the week:
The Dow is down 80.21 points, or 0.5 percent.
The S&P 500 is down 8.27 points, or 0.4 percent.
The Nasdaq is up 13.34 points, 0.3 percent.
For the year:
The Dow is up 303.70 points, or 1.8 percent.
The S&P 500 index is up 121.71 points, or 6.6 percent.
The Nasdaq is up 286.31 points, or 6.9 percent.