NEW YORK — A quiet day on Wall Street left stock indexes little changed after minutes from the most recent meeting of the Federal Reserve’s policy committee showed few signs that the central bank plans on making changes to its stimulus program.
Trading volume continued to be light.
The Dow Jones industrial average fell 6.13 points, or less than 0.1 percent, to 12,393.90. The S&P 500 was down 0.24 at 1,332.63. The Nasdaq composite gained 2, or 0.1 percent, to 2,791.19.
Companies that make basic materials rose as traders anticipated more price increases for commodities. Aluminum maker Alcoa rose 2.8 percent, Greenwood Village-based Newmont Mining rose 4.4 percent and Dow Chemical rose 1.3 percent.
“I think the market is concerned that (Fed) Chairman (Ben) Bernanke doesn’t share the same level of concern regarding inflation that it might wish him to, and that is leading to stronger commodity prices,” said Howard Ward, the chief investment officer for GAMCO Investors.
Many investors have been more focused on the policies of the Fed rather than the threat of a government shutdown if Republicans and Democrats do not reach an agreement on federal spending levels.
“There is a game of chicken going on in Washington right now to see who will move first,” Ward said.
Stocks had edged lower in early trading, following most world markets, after China raised a key lending rate and the rating agency Moody’s lowered Portugal’s credit rating. A survey from the Institute for Supply Management reported growth at service companies last month but at a slower rate than analysts were expecting.
Technology companies climbed after Texas Instruments Inc. said it planned to buy National Semiconductor for $6.5 billion in cash. National Semiconductor soared 71 percent.
After falling more than $10 earlier in the day, Apple regained most of its losses.
