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.

U.S. stocks are edging lower after the Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy in September. The S&P 500 was down 0.6% in Wednesday afternoon trading,

Follow the market action on Wednesday to see whether the post-DeepSeek rally can continue and how investors react to the Federal Reserve rate decision and results from Meta, Microsoft and Tesla loom.

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.