Dow Jones ends at fresh all-time high despite pressure on Nasdaq

The major US stock benchmarks closed lower on Wednesday, except for Dow Jones that was buoyed by the energy sector and closed at a fresh record high.

The US government revealed that the federal budget recorded a deficit of $162.8 billion in January vs. $32.5 billion in the same period during 2020.

The government spending rose  to $547.4 billion, compared to $404.8 billion in the same period a year ago.

The US consumer price index rose 0.3% in January, which came on par with analysts' forecasts.

Federal Reserve Chairman Jerome Powell said that risks to the labor market still exist and remains a long way from a full recovery.

To the oil market, WTI crude March futures rose 0.6% to $58.6 or 32 cents, and closed at $58.68 a barrel, after hitting a day high of $58.9 and a low of $58.08.

Brent March futures rose 0.6% or 38 cents, and closed at $61.47 a barrel, after hitting a high of $61.6 and a low of $60.8.

As for stocks, Dow Jones rose 0.2% or 62 points, and closed at 31,438 points, a day high of 31,511 and a low of 31,221 points.

Nasdaq fell 0.2% or 35 points to 13,972 points, after hitting a day high of 14,109 and a low of 13,845 points.

S&P 500 fell less than 0.1% or 1 point to 3,909 points, after hitting a day high of 3,931 and a low of 3,884 points.