Stocks remain modestly higher after fed's 'beige book' finds outlook 'remains slightly pessimistic and uncertain'


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Stocks were holding on to modest gains in afternoon trade after the Federal Reserve's latest Beige Book report, a compilation of economic anecdotes collected across its 12 regions,


found the outlook "remains slightly pessimistic and uncertain." The Dow Jones Industrial Average was up 41 points, or 0.1%. The S&P 500 rose 14 points, or 0.2%. The Nasdaq


Composite gained 75 points, or 0.4%. In its summary, the Fed said reports across the 12 districts indicated economic activity declined slightly since the previous report, with half of


districts reporting "slight to moderate" declines, three reporting no change and three seeing slight growth. All districts reported "elevated levels of economic and policy


uncertainty, which have led to hesitancy and a cautious approach to business and household decisions," the report said.