2017.08.1622:08:00UTC+00U.S. Stocks Advanced after Trump Announcement, Fed Minutes

Wall street closed slightly higher on Wednesday as concerns grew over President Donald Trump's agenda and minutes from the recent Federal Reserve meeting, which implied that policymakers are concerned about soft inflation.

The Dow Jones industrial average rose 0.12 percent to 22,024.87, as Home Depot and United Technologies contributed the most gains. The S&P 500 climbed 0.14 percent to 2,568.11, as materials outperformed. The Nasdaq composite added 0.2 percent to 6,345.11, with Apple shares touching a record peak.

Stocks remained volatile after the release of the Federal Reserve meeting's minutes. Indexes lost some ground after Trump's disbanding of two high-profile business advisory councils as two more CEOs resigned from the manufacturing council.

Investors expect the Fed to begin unwinding its massive bonds portfolio in September. However, the market is divided as to whether the U.S. central bank will hike rates once more in 2017.

The S&P materials index climbed the most of any sector, adding 0.9 percent, following increases in copper and other metals.

After the bell, Cisco Systems shares dropped 2.3 percent after it posted results.