U.S. shares rose slightly after Intel results

Investors also awaited a statement from the Federal Reserve later on Wednesday about the outlook for the U.S. economy.The negative figure of the day was that U.S. retail sales fell for the second month in June dragged down by weakness in auto dealerships and gas stations, a reminder that the economy continues to face problems.

Other data showed that U.S. business inventories rose 0.1 percent in May, slightly less than the 0.3 percent increase had been expected.
Shares of Intel, a Dow component, climbed 3.57 percent, a day after reporting better than expected results.

Its figures allayed fears of a slowdown in business spending on technology.
'The gains have been much better than expected, but weak sales suggest that people expect a slowdown in the second half, said Bruce Bittles, chief strategist at Robert W Baird Nashville.

The Dow Jones industrial average rose or 0.32 percent, at 10396.24. The rate of Standard & Poor's rose 0.31 percent to 1098.72 and the Nasdaq Composite index advanced 0.79 percent, to 2259.85.
The Fed's economic forecast will be released along with minutes from its latest monetary policy meeting.

Some officials estimate that the Fed will cut forecasts for U.S. economic growth, in line with recent reductions in Wall Street economists.
"It is problematic if the Fed is concerned about the slowdown in the second half of the year, but profits have been removed from the scene a second recession, which was on everyone's lips, creating a deep pessimism," said Bittles.