NEW YORK, June 14 (Xinhua) -- U.S. stocks closed mixed Wednesday, with the Dow Jones Industrial Average refreshing its closing record, as investors digested the Federal Reserve's decision to raise interest rates by a quarter point.
The Dow Jones Industrial Average rose 46.09 points, or 0.22 percent, to 21,374.56. The S&P 500 fell 2.43 points, or 0.10 percent, to 2,437.92. The Nasdaq Composite Index was down 25.48 points, or 0.41 percent, to 6,194.89.
The U.S. central bank on Wednesday raised the benchmark interest rates for the fourth time since December 2015, and unveiled plan to start trimming its balance sheet.
"In view of realized and expected labor market conditions and inflation, the (Federal Open Market) Committee decided to raise the target range for the federal funds rate to 1 to 1.25 percent," said the Fed in a statement after concluding its two-day monetary policy meeting.
The Fed also provided more details on how it will unwind its 4.5-trillion-U.S.-dollar balance sheet.
Meanwhile, U.S. economic data came out softer than expected. The Consumer Price Index (CPI) for all urban consumers decreased 0.1 percent in May on a seasonally adjusted basis, the U.S. Labor Department reported Wednesday. Over the last 12 months, the all items index rose 1.9 percent.
The index for all items less food and energy increased 0.1 percent in May, and it rose 1.7 percent over the past 12 months.
Advance estimates of U.S. retail and food services sales for May decreased 0.3 percent from the previous month to 473.8 billion U.S. dollars, the Commerce Department announced Wednesday.
"The economy has slowed, inflation remains ominously low and consumers are in a wary mood," said Chris Low and Jay Morelock, economists at FTN Financial, in a joint note. Enditem
