Stocks Closed Mixed after Fed Minutes

U.S. stocks ended mixed on Wednesday in the wake of the release of minutes from the Federal Reserve’s policy meeting last month. The Dow Jones Industrial Average fell 17.73 points, or 0.10%, to 18,029.85. The S&P 500 was down 0.66 point, or 0.03%, to 2,099.68. The Nasdaq
Composite gained 7.10 points, or 0.14%, to 4,906.36.

Federal Reserve policymakers expressed concern last month that raising interest rates too soon could pour cold water on the U.S. economic recovery, and fretted over the impact of dropping “patient” from the central bank’s rate guidance.

U.S. wholesale prices fell by a record amount in January, led by the biggest drop in gasoline prices in six years. The Labor Department said Wednesday that its producer price index declined 0.8 percent last month, the biggest drop in a data series that goes back to November 2009 when the government changed the calculation methods for its wholesale price index.

The comeback rally in oil paused on Wednesday, with Brent crude falling below $60. Brent crude fell $2, or 4 percent, its most in two weeks, to settle at $60.53 a barrel. It slid further in post-settlement trade, touching a session low of $59.88 by 3:43 p.m. EST (2043 GMT).

Samsung Electronics Co. said Wednesday that it had acquired a U.S. startup whose technology is likely to underpin the South Korean technology giant’s new mobile-payment service.