NEW YORK (Reuters) - U.S. stocks ended slightly firmer on Wednesday but off the day's highs as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are worried about weak inflation.
Indexes lost some ground following Trump's disbanding of two high-profile business advisory councils after two more CEOs resigned from the manufacturing council on Wednesday in response to his comments on weekend violence in Charlottesville, Virginia.Wall Street stayed volatile following the release of the last Federal Reserve meeting's minutes, which showed policymakers appeared increasingly wary about recent weak inflation. Some called for a halt to further interest rate hikes until it was clear the trend was transitory."The reaction to the statement was mixed. Investors are worried inflation is not hitting the Fed's target and that the Fed may be tightening too early," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.At the same time, that could push out the next rate increase, which would be supportive to stocks, he said.Investors have been watching a slide in inflation readings in recent months, which remain below the Fed's 2 percent target.Fed policymakers unanimously decided to keep interest rates unchanged at their July 25-26 meeting.The S&P materials index <.splrcm> rose the most of any sector, gaining 0.9 percent, following gains in copper