Stocks finish mostly lower even after the Fed cut interest rates and said it will stop shrinking its balance sheet on Dec. 1. Separately, investors are preparing for earnings from three of the Mag 7 mega-cap stocks after the close.

In stocks, American Express topped the Dow by jumping more than 7% and climbing above its 329.14 buy point. Shares soared as the credit card giant raised its outlook and beat third-quarter expectations. Apple AAPL was the Dow's second-best performer, up 2%.

Follow up to the hour updates on what is happening in crypto today, October 22. Market movements, crypto news, and more!

Dow’s climb toward 48,000 closing level is thwarted as Fed’s Powell pushes back on December rate cut.

The Dow, S&P 500, and Nasdaq are rising Wednesday ahead of the Federal Reserve's latest interest-rate decision and Big Tech earnings.