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U.S. stocks end mixed amid data, Fed speakers' remarks

Xinhua, November 17, 2016 Adjust font size:

U.S. stocks closed mixed Wednesday, with the Dow Jones Industrial Average snapping a 7-day winnings streak, as investors digested economic data and comments from U.S. Federal Reserve officials.

The Dow Jones Industrial Average fell 54.92 points, or 0.29 percent, to 18,868.14. The S&P 500 lost 3.45 points, or 0.16 percent, to 2,176.94. The Nasdaq Composite Index added 18.96 points, or 0.36 percent, to 5,294.58.

The Producer Price Index (PPI) for final demand was unchanged in October, seasonally adjusted, worse than market consensus of a 0.3-percent increase, the U.S. Labor Department reported Wednesday.

"Wholesale prices came in largely below expectations in October, suggesting that inflation might struggle to hold onto upward momentum from rising energy costs," said Sophia Kearney-Lederman, an economic analyst at FTN Financial, in a note.

Meanwhile, U.S. industrial production was unchanged in October after decreasing 0.2 percent in September, announced the Federal Reserve Wednesday.

Investors also watched closely on the Fed officials' remarks for more clues on the timing of a next rate hike.

Earlier on Wednesday, St. Louis Fed President James Bullard said he would be surprised if the central bank did not raise rates next month, according to the CNBC.

Boston Fed President Eric Rosengren said Tuesday the central bank won't be easily swayed from a December rate hike.

According to the CME Group's FedWatch tool, market expectations for a December rate hike were 90.6 percent. Enditem