Stocks Ended Mixed after Fed Assessment

U.S. stocks ended mixed on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates. The Dow Jones Industrial Average fell 31.75 points, or 0.19%, to 16,880.36. The S&P 500 was up 0.12 point, or 0.01%, to 1,970.07. The Nasdaq Composite added 20.20 points, or 0.45%, to 4,462.90

The Federal Reserve is further slowing the pace of its bond purchases because it thinks an improving U.S. economy needs less help. But it’s offering no clearer hint of when it will start raising its key short-term interest rate. The Fed on Wednesday reiterated its plan to keep short-term rates low “for a considerable time” after its bond purchases end.

Whole Foods Market Inc. (WFM) reported its fiscal third-quarter same-store sales rose 3.9%. That was the worst performance in at least 14 quarters. The company said third-quarter profit rose to $151 million, or 41 cents a share, from $142 million, or 38 cents, a year ago. Sales rose to $3.38 billion from $3.06 billion.

Amgen Inc. said it plans to reduce its global workforce by 12% to 15% and close facilities in two states as part of a restructuring that aims to focus resources on developing new drugs.