US stocks were slightly higher on Wednesday, but trimmed their gains after the Federal Reserve announced another rate hike and said that output was growing at a moderate pace despite higher energy prices. The Dow Jones industrial average was up 31.11 points, or 0.29 percent, at 10,583.05. The Standard & Poor's 500 Index was up 1.57 points, or 0.13 percent, at 1,190.98.

The Nasdaq Composite Index was up 0.91 of a point, or 0.04 percent, at 2,069.61.

Copyright Reuters, 2005