Stocks pared gains and the Nasdaq turned negative on Wednesday as hopes for new stimulus measures from the Federal Reserve in the weeks ahead vied with signs the economy is weakening.

The Dow Jones industrial average <.DJI> was up 45.18 points, or 0.39 percent, at 11,605.13. The Standard & Poor's 500 Index <.SPX> was up 5.03 points, or 0.41 percent, at 1,217.95. The Nasdaq Composite Index <.IXIC> was down 2.78 points, or 0.11 percent, at 2,573.33.

(Reporting by Edward Krudy; Editing by Padraic Cassidy)