Major U.S. stock indexes ended slightly lower on Wall Street after the Federal Reserve left its key interest rate unchanged near zero, even as it noted recent improvement in the economy.

The S&P 500 ended down just 0.1% after some earlier gains evaporated.

Investors were also dealing with a wave of earnings reports from major U.S. companies and looking ahead to an evening speech from President Joe Biden to lay out his $1.8 trillion spending plan.

Google's parent company rose 3% after the online giant reported that its profit more than doubled as digital advertising soared. Bond yields held steady.