The U.S. stocks retreat on Wednesday after the Dow Jones industrial average settled above 13, 000 for the first time in nearly four years as the Federal Reserve chairman Ben Bernanke provided few hints about future stimulus.

The Dow Jones industrial average lost 53.05 points, or 0.41 percent, to close at 12,952.07. The Standard & Poor's 500 was down 6.50 points, or 0.47 percent, to 1,365.68. The Nasdaq Composite Index dropped 19.87 points, or 0.67 percent, to 2,966.89.

Major index opened higher after government reports showed the U. S. economy was recovering at a faster pace. According to the Commerce Department, the economy grew at a 3 percent annual rate in the final quarter of last year, up from a previous estimate of 2.8 percent.

Meanwhile, consumer spending rose 2.1 percent in the fourth quarter, powered by a jump in spending on autos and other long- lasting goods.

However, stocks erased gains after Bernanke disappointed investors by failing to give clear messages weather the central bank would launch more stimulus policies to bolster the economy.