U.S. stocks edge lower as investors weigh earnings, await Fed

U.S. stocks edge lower as investors weigh earnings, await Fed

U.S. stocks were mostly lower Wednesday midday as investors awaited the conclusion of a Federal Reserve policy meeting and continued to sift through quarterly results from technology heavyweights.

Also, President Joe Biden is expected Wednesday night to unveil a $1.8 trillion package of new spending and tax cuts aimed at bolstering children and families.

What are major indexes doing?

On Tuesday, major benchmarks werelargely in a holding pattern, with the Dow

DJIA, -0.32%

posting a gain of 3.36 points, or less than 0.1%, at 33,984.93, while the S&P 500

SPX, +0.07%

shed less than 0.1% and the Nasdaq Composite

COMP, -0.11%

gave up 0.3%.

What's driving the market?

Stocks have struggled for direction this week, with benchmark indexes trading near all-time highs, despite strong earnings and economic data as investors assess how much good news is already factored into the market.

The Fed is expected to leave policy unchanged as it concludes a two-day policy meeting. While the central bank and Fed Chairman Jerome