U.S. stocks were little changed Wednesday but the Dow industrials gained for a fourth consecutive session and rose to a new record high, while the broader Standard & Poor's 500 set a record intraday high. Oil prices fell sharply to a two-month low. In U.S. economic news Wednesday, the Federal Reserve (Fed) said economic activity in most U.S. regions increased at a "modest" pace, but there were few indications inflation would accelerate amid a possible slowing in consumer spending. The U.S. dollar fell 0.2 percent against a basket of other major currencies. Gold for August delivery rose $8.30 to $1,343.60 an ounce on the New York Mercantile Exchange. West Texas Intermediate (WTI) crude futures fell $2.05, or 4.4 percent, to $44.75 a barrel after U.S. government data showed crude inventories falling a smaller-than-expected 2.5 million barrels last week and gasoline supplies increasing 1.2 million barrels. The Dow Jones industrial average rose 24.45, or 0.1 percent, to 18.372.12. Eighteen of the index's 30 components rose, led by telecommunications giant Verizon, whose stock rose nearly 1 percent. Shares of building supplies store Home Depot fell almost 1 percent. The S&P 500 was virtually unchanged, rising 0.29 to 2,152.43. Utilities led seven sectors higher, and energy led three sectors lower. The technology-heavy Nasdaq composite index fell 17.09, or 0.3 percent, to 5,005.73. Shares of Apple fell 0.6 percent.
