IBM projected constant currency revenue to grow 5% in the full year, above estimates for 4.81% growth. Meanwhile, the company forecasted free cash flow of $13.5 billion for the full year, above the $12.92 billion Wall Street had expected. IBM also said its generative AI book business now stands at more than $5 billion.

Investors react to the Federal Reserve's policy decision and Chairman Jerome Powell's press conference, as well as results from Meta, Microsoft and Tesla.

Major averages are little changed on Wednesday, as investors turned their focus to the upcoming interest rate decision, and big tech earnings slated for later in the day. Early on and the S&P 500 (SP500) was -0.