(CNBC) — U.S. stocks closed mixed Wednesday, with consumer staples lagging, as investors digested the release of the Federal Reserve's Beige Book.
The Dow Jones industrial average closed about 12 points lower, with Home Depot contributing the most losses.
"It does feel like a calm before a storm as we head into the next Fed meeting," said Mike Bailey, director of research at FBB Capital Partners, pointing to recently weak economic data. "People are starting to talk about that, whether it's noise or is it a sign of something scary coming ahead."
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The S&P 500 closed less than a point lower after briefly trading higher, with consumer staples falling around 1 percent.