U.S. stocks ended the session slightly higher Wednesday as gains in consumer-staples but weakness in the technology and internet-related sector capped more significant advances, even as Wall Street digested midday reports that the U.S. and China may enter a fresh round of trade negotiations. The Dow Jones Industrial Average finished up 0.1% at 25,999, the S&P 500 gained less than 0.1% at 2,889, supported by a 1.3% rise in the consumer-staples sector. However, a 0.8% decline in financials and a 0.5% slide in tech names capped the broad-market benchmark‘s climb. Meanwhile, the Nasdaq Composite Index fell 0.2% at 7,954, as declines in the shares of chip makers weighed on the tech sector. A popular gauge of chip makers, the iShares PHLX Semiconductor ETF ended down 1.1%, led by declines in shares of Micron Technology Inc. Meanwhile, shares of Apple Inc. declined 1.2%, even as the gadget maker rolled out updates to its iPhones and Apple Watches. On the trade front, the U.S. has reached out to China for follow-up talks after negotiations last month concluded without results, on Wednesday. In the latest economic data, the wholesale cost of U.S. goods and services fell in August for the first time in a year and a half as the recent upturn in inflation appeared to ease.The U.S. economy grew at a "moderate pace" even though there were pockets of weaker activity in certain districts, according to the latest Beige Book released.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails.