Investing.com - U.S. stock prices finished Wednesday mixed to lower as investors largely avoided equities after the World Bank trimmed its global growth forecasts.
Ongoing fears that political bickering may stall debt ceiling debates dampened trading as well.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.17%, the S&P 500 index was down 0.02%, while the Nasdaq Composite index rose 0.22%.
The World Bank earlier cut its 2013 global growth forecast to 2.4% from a 3% estimate made in June, adding developing nations will struggle this year, which sent investors going long on the greenback and avoiding equities.
Elsewhere in the U.S., official data revealed that the country's monthly consumer price index came in flat in December, in line with expectations, after contracting 0.3% in November.
The country's monthly core consumer price index, stripped of volatile food and energy prices, grew 0.1% in December, missing expectations for a gain of 0.2%.
A separate report showed that U.S. industrial production rose 0.3% last month, also in line with expectations.
Stocks trimmed earlier losses later in the session after the Federal Reserve released its Beige Book, an analysis of current economic conditions that revealed the U.S. economy continues to grow at modest rates.
Still, stocks closed lower amid growing fears that the White House and congressional Republicans will bicker over the level of spending cuts that should accompany raising the country's debt ceiling.
The government will likely hit its USD16.4 trillion debt limit likely in late February.
Markets roiled when the U.S. nearly hit its debt ceiling two years ago, and fears of a repeat performance this year kept investors out of equities and camped out in safe-haven dollar positions.
Leading Dow Jones Industrial Average performers included Hewlett-Packard, up 4.05%, Bank of America, up 2.08%, and Intel, up 1.05%.
The Dow Jones Industrial Average's worst performers included Boeing, down 3.35%, AT&T, down 1.57%, and Verizon Communications, down 1.07%.
European indices, meanwhile, finished largely higher.
After the close of European trade, the EURO STOXX 50 rose 0.04%, France's CAC 40 rose 0.30%, while Germany's DAX 30 finished up 0.20%. Meanwhile, in the U.K. the FTSE 100 finished down 0.22%.
On Thursday, the U.S. will produce official data on building permits and housing starts, which together will provide a glimpse into the country's housing and construction health.
The U.S. is also to release the weekly government report on initial jobless claims and data on manufacturing activity in Philadelphia.
Ongoing fears that political bickering may stall debt ceiling debates dampened trading as well.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.17%, the S&P 500 index was down 0.02%, while the Nasdaq Composite index rose 0.22%.
The World Bank earlier cut its 2013 global growth forecast to 2.4% from a 3% estimate made in June, adding developing nations will struggle this year, which sent investors going long on the greenback and avoiding equities.
Elsewhere in the U.S., official data revealed that the country's monthly consumer price index came in flat in December, in line with expectations, after contracting 0.3% in November.
The country's monthly core consumer price index, stripped of volatile food and energy prices, grew 0.1% in December, missing expectations for a gain of 0.2%.
A separate report showed that U.S. industrial production rose 0.3% last month, also in line with expectations.
Stocks trimmed earlier losses later in the session after the Federal Reserve released its Beige Book, an analysis of current economic conditions that revealed the U.S. economy continues to grow at modest rates.
Still, stocks closed lower amid growing fears that the White House and congressional Republicans will bicker over the level of spending cuts that should accompany raising the country's debt ceiling.
The government will likely hit its USD16.4 trillion debt limit likely in late February.
Markets roiled when the U.S. nearly hit its debt ceiling two years ago, and fears of a repeat performance this year kept investors out of equities and camped out in safe-haven dollar positions.
Leading Dow Jones Industrial Average performers included Hewlett-Packard, up 4.05%, Bank of America, up 2.08%, and Intel, up 1.05%.
The Dow Jones Industrial Average's worst performers included Boeing, down 3.35%, AT&T, down 1.57%, and Verizon Communications, down 1.07%.
European indices, meanwhile, finished largely higher.
After the close of European trade, the EURO STOXX 50 rose 0.04%, France's CAC 40 rose 0.30%, while Germany's DAX 30 finished up 0.20%. Meanwhile, in the U.K. the FTSE 100 finished down 0.22%.
On Thursday, the U.S. will produce official data on building permits and housing starts, which together will provide a glimpse into the country's housing and construction health.
The U.S. is also to release the weekly government report on initial jobless claims and data on manufacturing activity in Philadelphia.