NEW YORK (AA) – Wall Street ended Wednesday mixed as gains in tech stocks were balanced with Federal Reserve statements that increased the likelihood of an interest rate hike this month.
The Fed said in its Beige Book during trading hours that the U.S. economy grew "modestly" this summer.
Kansas City Fed President Esther George also said the economy is "at or near full employment" during a hearing before lawmakers.
The statements were perceived by investors that the central bank could increase its benchmark interest rate at its September meeting, causing a sell-off, according to analysts.
The Dow Jones fell 12 points to end the day at 18,526 and the S&P 500 was flat with less than one point loss to 2,186.
However, thanks to the gains in tech stocks, the Nasdaq jumped eight points to end at 5,283 -- a new high for the second day in a row. The index also reached 5,288 points during trading hours to post a new all-time intraday record.
Data giants in computer sector, Western Digital Corp and Seagate Technology, saw their stock value increase 12.1 and 5.9 percent, respectively.