Stocks give up gains in last hour, finish mixed

Nov 4th, 2009 - Houston Chronicle

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NEW YORK — A late-day slump left stocks mixed Wednesday as investors couldn't hold on to their optimism after the Federal Reserve gave an encouraging assessment of the economy.

The Dow Jones industrial average, up more than 150 points after the Fed described the economy as showing more signs of recovery, closed up 30. Broader indexes were narrowly mixed.

Stocks could get a lift Thursday from Cisco Systems Inc., which reported posted better quarterly earnings and sales than expected after the closing bell. John Chambers, CEO of the maker of computer-networking gear, struck an optimistic tone in a conference call with analysts and said orders continue to rebound.

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