NEW YORK Nike Air Huarache All Red , 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, or 0.01 percent, to 17,685.73. The S&P 500 dropped 3.08 points, or 0.15 percent Nike Air Huarache All White , to 2,048.72. The Nasdaq Composite Index lost 26.73 points, or 0.57 percent, to 4,675.71.
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 Nike Air Huarache All Black , 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," 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 Nike Air Huarache Blue , 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, 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 Nike Air Huarache Red , 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.
Lowe's Companies Inc, the second-largest U.S. home improvement products retailer, raised its full-year profit and sales forecast after reporting better-than-expected earnings and revenue for the third-quarter. Lowe's shares rallied 6.37 percent to finish at 62. 26 dollars per share.
On Tuesday, the Dow and the S&P 500 refreshed their record highs on cheerful U.S. housing data and robust merger and acquisition deals in the healthcare sector.
The CBOE Volatility Index, often referred to as Wall Street's fear gauge, ticked up 0.72 percent to end at 13.96 on Wednesday.
In other markets Nike Air Huarache Triple White , the dollar traded mixed against most major currencies as the Fed's minutes showed the central bank is moving towards lifting interest rates while keeping a close eye on downside risk to the global economy.
In late New York trading, the euro increased to 1.2544 dollars from 1.2535 dollars in the previous session. The greenback bought 117.88 Japanese yen, higher than 116.89 yen of the previous session.
Crude prices dropped as U.S. crude inventories increased last week.
Light, sweet crude for December delivery moved down 3 cents to settle at 74.58 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery lost 37 cents to close at 78.1 dollars a barrel.
Gold futures on the COMEX division of the New York Mercantile Exchange fell on a poll showing Swiss voters will say no to the plan about the nation's central bank to buy more bullions. The most active gold contract for December delivery lost 3.2 dollars, or 0.27 percent Nike Air Huarache Triple Black , to settle at 1,193.9 dollars per ounce.
A Chinese ship (right) uses water cannon on a Vietnamese vessel on the South China Sea near the Xisha islands, in a photograph taken on May 3 and released by the Vietnamese Marine Guard yesterday. China said yesterday that it acted with restraint when using water cannon after Vietnamese vessels had intentionally collided with Chinese ships in recent days. — Reuters
CHINA yesterday accused Vietnam of intentionally colliding with its ships in the South China Sea, but called for talks to end a bitter row over a Chinese oil rig.
A senior foreign ministry official in Beijing demanded Vietnam withdraw its ships after its southern neighbor said Chinese vessels used water cannon and rammed eight of its vessels at the weekend near the rig.
China said the drilling operations were being carried out in its territory and it had acted with the “utmost restraint” in using water cannons in response to rammings it blamed on Vietnam.
“It’s the Vietnamese vessels that are provoking this issue. It’s the Vietnamese vessels that are ramming into Chinese vessels,” said Yi Xianliang, deputy director general of the foreign ministry’s department of Boundary and Ocean Affairs.
Yi said China’s operations in the waters were “completely legal Nike Air Huarache White , legitimate and justified” because the waters were China’s inherent territory.
He said Vietnam had within five days dispatched 35 vessels that had rammed Chinese ships 171 times. He said the Vietnamese ships included armed vessels, but on the Chinese side there were only civilian or non-armed government vessels.
Yi said China stood ready to discuss the issue with Vietnam