Closing Bell: Beige Book Shows Modest Growth; New Dow Record

Wall Street barely went anywhere on Wednesday, though slight gains for the Dow Jones Industrial Average were enough to push it to a new record close. Stocks spent the day mixed as a slump in crude oil pressured the energy sector. Crude returned to a level below $45 a barrel. Activity in the 12 Fed districts grew at a 'modest pace,' according to the latest Beige Book. The anecdotal reading on economic conditions throughout the country reported that manufacturing activity generally improved after a rough start to the year.  Oppenheimer reiterated an OUTPERFORM rating and $25 price target on Fitbit (FIT) - Get Report . The firm said the fitness tracker maker was extremely undervalued and expected strong growth in earnings.  Pinnacle Foods  (PF) climbed after BMO Capital bumped up its price target by $6 to $56 a share. Analysts said soft full-year guidance and little deal talk makes it a good time to buy. TheStreet's Keris Lahiff reports from Wall Street.