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History
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NEW YORK, Nov. 19 (Xinhua) -- U.S. stocks retreated slightly Wednesday, as investors took a breather after major stock indices had repeatedly refreshed record highs.
The Dow Jones Industrial Average lost 2.09 points Cheap Nike Air Max 1 Shoes , or 0.01 percent, to 17,685.73. The S&P 500 dropped 3.08 points, or 0.15 percent Cheap Nike Air Max 95 Shoes , to 2,048.72. The Nasdaq Composite Index lost 26.73 points, or 0.57 percent, to 4 Cheap Nike Air Max 90 Shoes ,675.71.
The three major indices traded modestly lower for most of the session, but the Dow and the S&P 500 briefly jumped to positive territory immediately after the release of the Federal Reserve's minutes of its October policy meeting before losing steam again in absence of major stimulus.
According to the minutes, Fed officials anticipated that inflation would be held down over the near term by the decline in energy prices and other factors, but would move toward the Fed's 2 percent goal in coming years.
But a few participants expressed concern that inflation might persist below their objective "for quite some time Cheap Nike Air Max Shoes ," the minutes showed.
Some investors interpreted the central bank's concern about persistently low inflation as an indication that Fed would keep rates low for a bit longer, and thus providing more supports to the equity market.
At the October meeting, the Fed decided to end the third round of monthly asset purchases program, as it sees the economy is improving on track from the worst financial crisis in decades. It also pledged to keep low interest rates in the longer run to nurture the hard-earned recovery.
On the economic front Cheap Air Max 1 Shoes , U.S. homebuilders broke ground on fewer houses in October, but applications for building permits showed momentum, said the Commerce Department. Data showed U.S. privately- owned housing starts slipped 2.8 percent in October, while building permits climbed 4.8 percent to the highest level since June 2008.
Moreover Cheap Air Max 95 Shoes , U.S. mortgage applications in the week ending Nov. 14 unexpectedly jumped 4.9 percent from the previous week, according to the Mortgage Bankers Association.
In corporate news, major U.S. retailer Target Corp. reported better-than-expected quarterly sales of 17.73 billion U.S. dollars for the third quarter. Target shares jumped 7.39 percent to close at 72.50 dollars apiece.
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