Dow hits record high on mild inflation data

U.S. stocks ended mixed on Wednesday amid mild retail inflation data.

In the closing trading, the Dow Jones Industrial Average gained 41.86 to 11,991.88, after hitting a record high of 12,049.51 in early trading. The Standard & Poor's 500 index climbed 1.89 to 1, 365.94. The Nasdaq composite index fell 7.80 to 2,337.15.

On the data front, the Labor Department reported on Wednesday that its consumer price index fell 0.5 percent in September, the biggest decline since November 2005, driven by a 7.2 percent drop in energy prices. Core CPI, which excludes food and energy prices, increased 0.2 percent.

New construction of U.S. homes unexpectedly increased 5.9 percent in September to a seasonally adjusted annual rate of 1.772 million, the first increase in housing starts since May, the Commerce Department said on Wednesday. Building permits slid 6.3 percent to a 5-year low of 1.619 million annualized, greater than the expected 2 percent drop.

World oil prices fell sharply below 58 dollars per barrel on Wednesday as U.S. crude oil stocks rose.

Source: Xinhua