Stock Market Today: Nasdaq Pares Losses, Powell Notes Resilient Economy; Mag 7 Earnings Loom (Live Coverage)

The major stock indexes pared losses Wednesday afternoon after the Federal Reserve kept its key interest rate unchanged and Fed Chair Jerome Powell noted resilience in the economy. Meanwhile, earnings reports from four members of the Magnificent Seven are due after the market close.

Fed Chair Jerome Powell noted a high level of uncertainty about the economic outlook during his last press conference as the head of the U. S. central bank.