Dow gains but misses out on record as Fed's Beige Book points to U.S. growth

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MARKET PULSE

U.S. stocks finished mostly lower on Thursday as the Federal Reserve’s Beige Book showed growth and inflation was picking up in the U.S. economy. The S&P 500 fell 0.4% to 4,125. The Dow Jones Industrial Average advanced 55 points, or 0.2%, to 33,732, based on preliminary numbers. The blue-chip benchmark hit an intraday record earlier in the session but ended below the record close of 33,800.60 set last Friday. The Nasdaq Composite slid 1% to 13,858. Investors parsed through better-than-expected earnings from banks including Goldman Sachs, Wells Fargo and JPMorgan Chase. The strong results showed the broadening benefits of the recovery, Shares of cryptocurrency exchange Coinbase Global rose over 30%.

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