Stocks give up gains in last hour, finish mixed

A late-day slump left stocks mixed Wednesday as investors couldn't hold on to their optimism after the Federal Reserve gave an encouraging assessment of the economy.

The Dow Jones industrial average, up more than 150 points after the Fed described the economy as showing more signs of recovery, closed up 30.

Stocks could get a lift Thursday from Cisco Systems Inc., which posted better quarterly earnings and sales than expected after the closing bell.

The Dow rose 30.23, or 0.3 percent, to 9,802.14.

The broader Standard & Poor's 500 index rose 1.09, or 0.1 percent, to 1,046.50. The Nasdaq composite index fell 1.80, or 0.1 percent, to 2,055.52.

Originally published by Associated Press.

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