Stocks Mixed After Weaker Fed Economic Outlook

A weaker economic forecast from the Federal Reserve has chilled the stock market's winning streak. The major indexes have closed narrowly mixed Wednesday after the Fed issued an economic forecast slightly more downbeat than the one it gave in April. Analysts said the forecast didn't come as a surprise, although it did set off some initial selling.

Companies' upbeat earnings announcements and forecasts have helped offset concerns over the Fed's assessment.

According to preliminary calculations, the Dow Jones industrial average is up 3 at 10,366. The Standard and Poor's 500 index is down less than a point at 1,095. And the Nasdaq composite index is up 7 at 2,249.

Falling stocks were ahead of gainers by about 4 to 3 on the New York Stock Exchange. Volume came to almost 1.1 billion shares.
   
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