U.S. stocks end mixed amid Fed Beige Book

U.S. stocks closed mixed Wednesday, with the Dow Jones Industrial Average and the S&P 500 eclipsing Tuesday's closing records, as investors digested the newly-released Federal Reserve's Beige Book.

The Dow Jones Industrial Average fell 24.45 points, or 0.13 percent, to 18,372.12. The S&P 500 edged up 0.29 point, or 0.01 percent, to 2,152.43. The Nasdaq Composite Index fell 17.09 points, or 0.34 percent, to 5,005.73.

According to the Fed Beige Book released in the afternoon, reports from the 12 Federal Reserve Districts indicated that economic activity has expanded in nine of the Districts since the previous Beige Book report and contacts in Boston were described as upbeat.

Analysts thought that the Beige Book showed U.S. economy was growing steadily, but not at a pace where the Fed would feel comfortable raising rates in the near future.

Meanwhile, oil prices were also in focus, which plunged about 4 percent Wednesday following previous day's solid gains, as official data showed a smaller-than-expected U.S. crude inventory draw for last week.

On the economic front, U.S. import prices increased 0.2 percent in June after rising 1.4 percent in May, while prices for U.S. exports rose 0.8 percent in June following an advance of 1.2 percent in May, the Labor Department announced Wednesday.

Overseas, European equities also finished narrowly mixed Wednesday. German benchmark DAX index at Frankfurt Stock Exchange inched down 0.33 percent, while French benchmark index CAC 40 increased 0.09 percent.

In Asia, Tokyo shares rose for a third straight day Wednesday, reaching a roughly one-month high, due to market expectations of fiscal stimulus measures taken by the government. The 225-issue Nikkei Stock Average gained 0.84 percent to 16,231.43 points. Enditem