U.S. stocks end mixed after Fed Beige Book

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U.S. stocks closed mixed following a volatile session Wednesday, after the Federal Reserve said in its Beige Book that the American economy picked up in the past six weeks.

The Dow Jones Industrial Average gained 10.72 points, or 0.06 percent, to 17,078.28. The S&P 500 lost 1.56 points, or 0.08 percent, to 2,000.72. The Nasdaq Composite Index shed 25.62 points, or 0.56 percent, to 4,572.56.

Reports from the 12 Fed Districts indicated that economic activity has expanded since the previous Beige Book report released on July 16.

It also revealed that trends in employment, wages, and prices were relatively unchanged in the Fed Districts, with greater wage pressures reported in sectors where shortages of skilled labor persisted.

Shortly after the opening bell, the S&P 500 continued its record run, hitting a new all-time intraday high of 2,009.28 points, toppling its intraday record set the previous day, as investors turned cheerful amid hopes of a ceasefire agreement between the Ukrainian government and separatists.

The tech-rich Nasdaq underperformed the other two indices, as shares of Apple, the heavyweight stock, tumbled 4.22 percent to 98. 94 dollars apiece after its rival Samsung launched two new smartphones.

On the economic calendar, U.S. factory orders in July rose 10.5 percent, largely in line with market expectations, the Commerce Department reported Wednesday.

U.S. mortgage applications increased 0.2 percent for the week ending August 29 from one week earlier, according to the Mortgage Bankers Association.

Investors are also looking to a string of major jobs data scheduled for release later in the week, including the U.S. non- farm payroll report for August scheduled for release Friday.

U.S. stocks ended mixed Tuesday, with the broader S&P 500 hitting a fresh all-time intraday high to kick off September's trading.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, advanced 0.90 percent to end at 12.36.

In other markets, crude prices rebounded Wednesday on positive U.S. factory data. Light, sweet crude for October delivery moved up 2.66 dollars to settle at 95.54 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery gained 2.43 dollars to close at 102.77 dollars a barrel.

Gold futures on the COMEX division of the New York Mercantile Exchange went up Wednesday on short covering, with the most active gold contract for December delivery going up 5.3 dollars, or 0.42 percent, to settle at 1,270.3 dollars per ounce.

The U.S. dollar retreated Wednesday as prospects for a possible ceasefire in eastern Ukraine dampened market demand for safe assets.

In late New York trading, the euro rose to 1.3145 U.S. dollars from 1.3126 dollars of the previous session, and the greenback bought 104.84 Japanese yen, lower than 105.13 yen of the previous session.