Stocks end mixed as Fed points to slow recovery

NEW YORK -- Stocks gave up an early advance to end little changed after the Federal Reserve said the economy continues to grow at a slow pace.

The Fed says that economic activity in nine of its 12 districts has improved but that the gains are "modest."

The Fed's assessment dampened some of the enthusiasm that followed an upbeat report on services industries and more takeover news earlier in the day.

The Dow Jones industrial average is down 9 points at 10,397. The Standard & Poor's 500 index is up less than 1 at 1,119. The Nasdaq composite has slipped less than a point to 2,281.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange. Trading volume fell to 935.1 shares from 1.1 billion Tuesday.