The Dow Jones Industrial Average dipped slightly from its record on Wednesday as investors awaited a decision from the Federal Reserve on its move to start withdrawing the support it has been providing.
The Dow dropped 72.37 points to 35,980.26, dragged down by Amgen and Chevron.
The S&P 500 lost 3.93 points to 4,626.72, from Tuesday's all-time high.
The NASDAQ Composite poked ahead 22.39 points to 15,672.
Lyft jumped 8% on strong third-quarter results and CVS Health rose 3% on better-than-expected earnings.
Zillow fell more than 15% after announcing it will close its home buying and flipping business. Shares of Bed Bath & Beyond rose on a partnership announcement with Kroger but the 40% surge that followed was likely fueled by a short squeeze.
Activision shares tumbled, falling nearly 15% after it said the launch of two games would be delayed. The company also issued a weaker holiday outlook thought it did beat profit estimates for the quarter.
Wednesday's ADP report showed that private job creation rose in October, thanks to a burst in hiring in the hospitality sector. Companies added 571,000 for the month, beating the 395,000 Dow Jones estimate and just ahead of September's downwardly revised 523,000. It was the best month for jobs since June.
Investors are focused on the Federal Reserve, which is expected to announce the timeline for a gradual reduction in its bond-buying program Wednesday at the conclusion of its two-day meeting. They'll also be listening for clues on when the central bank plans to raise interest rates.
Fed Chairman Jerome Powell is expected to stress that the reduction process known as tapering does not equate to tightening policy. Traders are pricing in a more aggressive path of interest rate hik
Prices for 10-year Treasurys lost strength, raising yields to 1.57% from Tuesday's 1.55%. Treasury prices and yields move in opposite directions.
Oil prices faded $3.10 to $80.81 U.S. a barrel.
Gold prices sank $25.80 to $1,763.60 U.S. an ounce.