Fed signals lift stocks from lows; gold up

Investors drew some comfort Wednesday from signals that the Federal Reserve is worried about the slow pace of the U.S. recovery and feels more urgency about providing help.

Stocks climbed back from lows after minutes from the last major Fed meeting were released. The Standard & Poor's 500 index eked out a gain of 0.02 percent to close at 1,413.49.

The Dow Jones industrial average closed down 30.82 points at 13,172.76. The Nasdaq composite index added 0.21 percent to end at 3,073.67.

The price of gold rose, as it sometimes does when investors think the Fed is about to pump money into the economy. Gold climbed $14 an ounce to $1,657, its highest level since early May, in trading after the day's official close. When investors expect stimulus from the Fed, they sometimes buy gold in anticipation of a weaker dollar or because of inflation fears.

The minutes, from a meeting July 31 and Aug. 1, showed that "many members" of the Fed's Open Market Committee felt additional action would be warranted unless the economic recovery shows "substantial and sustainable strengthening."

The minutes also showed many officials favored pushing any increase in short-term interest rates beyond the Fed's current target of late 2014.