US stocks were mixed in cautious trading as Federal Reserve officials met to determine whether inflation could stay tame without an increase in interest rates.

The Dow Jones industrial average gained 27.32 points after erasing an early afternoon deficit of 38 points.It has been trading sluggishly in recent sessions after, charging a combined 168 points higher on Wednesday and Thursday last week.

Broader indicators were mixed, with the worst losses showing in the technology-laden Nasdaq market as computer-related issues struggled against some profit-taking.

The Standard and Poor's 500-stock list rose 2.55 to 789.28 for its second straight record close. The NYSE composite index also set a new high, rising 0.86 to 413.34. The Nasdaq composite index fell 2.30 to 1,373.75, and the American Stock Exchange composite index fell 0.46 to 589.25.