Wall Street closes mixed after Fed meeting

By Ovunc Kutlu

NEW YORK (AA) - Wall Street closed mixed Wednesday in the aftermath of the Federal Reserve's May meeting.

The Dow added 8 points to finish trading at 20,957 points.

The S&P, however, lost three points to reach 2,388 and the Nasdaq fell 22 points to hit 6,072.

The meeting saw the Fed keep its benchmark interest rate unchanged, but the central bank downplayed the weak first quarter growth, leading analysts to believe it might still go ahead with a rate hike next month.

The Fed suggested last year it could raise rates interest rates up to three times. After the March meeting, a second rate hike was speculated for the month of June.

Apple stock price, meanwhile, lost as much as 2.2 percent Wednesday as the firm reported Tuesday that iPhone and iPad sales declined in January-March period year on year.