Stocks hold near records on hopes of an agreement with Iran

Stocks meandered to a mixed finish on Wall Street Wednesday and remained close to their records, while oil prices held steady. The uncertain trading on Wall Street followed two days of big gains that gave the week and August a strong start. Several big technology companies slumped, though, ultimately weighing down the market. The Standard & Poor's 500 fell 12.97 points, or 0.2%, to close at 7,723.55. The index spent most of the day higher after surging to a record on Tuesday. “The coiled spring investors have been waiting for has finally released, with the S&P 500 Index surging to record highs for the first time in two months,” said Mark Hackett, chief market strategist at Nationwide, in a report. The Dow Jones industrial average rose 263.24 points, or 0.5%, to 54,349.12, reaching another record. The Nasdaq fell 221.55 points, or 0.8%, to 26,363.44.