Stocks pared gains and the Dow briefly turned negative on Wednesday as hopes faded for new details on a plan to shore up the banking system.

Bank stocks cut earlier gains following the previous session's strong rally.

The Dow Jones industrial average <.DJI> added 5.42 points, or 0.08 percent, to 6,931.91. The Standard & Poor's 500 Index <.SPX> inched up 2.26 points, or 0.31 percent, to 721.86. The Nasdaq Composite Index <.IXIC> was up 8.53 points, or 0.63 percent, at 1,366.81.

(Reporting by Leah Schnurr; Editing by James Dalgleish)