Stocks Ended Mostly Lower but Nasdaq at Record High

U.S. stocks ended lower on Wednesday as the Federal Reserve’s Beige Book report painted a generally positive picture of the U.S. economy. The Dow Jones Industrial Average slipped 11.98 points, or 0.06%, to 18,526.14. The S&P 500 edged down 0.33 point, or 0.02%, to 2,186.15. The Nasdaq Composite rose 8.02 points, or 0.15%, to 5,283.93.

Oil futures settled at their highest level in about a week ahead of the latest updates on U.S. petroleum supplies. October West Texas Intermediate crude tacked on 67 cents, or 1.5%, to settle at $45.50 a barrel. November Brent crude rose 72 cents, or 1.5%, to $47.98 a barrel.

The economy continued to expand at a modest pace in July and August, a Federal Reserve report said Wednesday, a sign the U.S. could continue its uninspired growth trajectory in the third quarter.

A persistent slide in food prices is putting pressure on more U.S. grocers and distributors, weighing down their stocks and prompting some to revise full-year earnings outlooks.