CCS/MSP430FR2433: MSP 430 problem

Tool/software: Code Composer Studio

Hello,

I am using msp430fr2433 board with a led.

I am trying to toggle the Led, but it is not working.

It is a simple problem,I am unable to find out the solution.

My code is :

#include <msp430.h> 

int main(void)
{
int i;
WDTCTL = WDTPW | WDTHOLD; // stop watchdog timer

P3DIR = 0x0004; //  p3.2 as output

while(1)
{
P3OUT &= 0x04
for (i=0;i<10000;i++);
P3OUT |= 0x0004
 for (i=0;i<10000;i++);

}
return 0;
}

Do I need to change the P3DIR =0x0000 (from  P3DIR =0x0004) ?

Please help. 

The schematic is given below.