Follow all the latest U.S. market action for Wednesday here to see if the Federal Reserve can ignite an end-of-year stock rally.

After meager opening gains, the Dow was close to a session high, up 0.5%. The S&P 500 moved into positive territory, gaining less than 0.1%. But the tech-heavy Nasdaq composite continued to struggle, falling 0.3%. Small caps advanced, driving the Russell 2000 up 0.3% after vacillating earlier Wednesday. The index touched a record high on Tuesday.

Stock index futures were little changed Tuesday as invstors awaited data on the labor market with as the Fed's two-day meeting starts. The delayed September Job Openings and Labor Turnover Survey, or JOLTS,

It has been a quiet trading session Wednesday morning, but the Dow Jones Industrial Average was still outpacing the tech-heavy S&P 500 and Nasdaq Composite Index. The Dow was rising 0.5%, or 240 points,

The Dow reversed from earlier gains and gave back 0.3% as the S&P 500 hovered in break-even territory. The Nasdaq composite rose 0.1% after morning losses. Small caps outperformed, with the Russell 2000 hitting a record high before trimming its gains to 0.3%.