S&P 500 ends the day flat | Fed holds interest rates near zero | Facebook earnings beat

Federal Reserve Chairman Jerome Powell's delicate dance seemed to appease investors on Wednesday.

VIEW IN BROWSER | SUBSCRIBE WED, JUL 28, 2021 EVENING BRIEF AS OF WED, JUL 28, 2021 • 05:12 ET DJIA 34930.93 -0.36% -127.59 S&P 500 4400.64 -0.02% -0.82 NASDAQ 14762.58 +0.70% +102.01   Most Active DOW NAME LAST CHG %CHG AAPL 144.98 -1.79 -1.22% MSFT 286.22 -0.32 -0.11% INTC 53.07 -0.11 -0.21% S&P 500 NAME LAST CHG %CHG AMD 97.93 +6.90 +7.58% AAPL 144.98 -1.79 -1.22% GE 13.13 +0.05 +0.38% NASDAQ NAME LAST CHG %CHG AMD 97.93 +6.90 +7.58% AAPL 144.98 -1.79 -1.22% SIRI 6.48 -0.23 -3.43%   EDITOR'S NOTE Federal Reserve Chairman Jerome Powell's delicate dance seemed to appease investors on Wednesday. The Fed chief said despite the economy's progress, we still have some ground to cover before the central bank can start dialing back its aggressive support.   "I think we're some way away from having had substantial further progress toward the maximum employment goal. I would want to see some strong job numbers," Powell said in a press conference.    The S&P 500 turned higher following his comments, but eventually ended the session little changed at 4,400.64. The tech-heavy Nasdaq Composite climbed 0.7% to 14,762.58. The Dow Jones Industrial Average dipped 127.59 points, or nearly 0.4%, to 34,930.93. The central bank started purchasing at least $120 billion a month in bonds and other securities in December until "substantial further progress" had been made on employment and inflation.   "Fed's continued patience is being cheered by the markets," said Anu Gaggar, global investment strategist at Commonwealth Financial Network. "There was acknowledgement of continued progress towards the Fed's goals, but there is ways to go before the Fed can be nudged to act."   Also supporting the market on Wednesday was a jump in Alphabet and Boeing shares.    Google-parent Alphabet popped 3.1% after the tech giant posted quarterly results, registering a 69% jump in advertising revenue. Boeing shares climbed nearly 4.2% after the manufacturer posted its first profit since the third quarter of 2019, thanks to a rebound in aircraft deliveries. Yun Li | CNBC Markets and Investing Reporter @YunLi626 TOP NEWS  S&P 500 closes flat as Fed keeps easy policies, Alphabet and Boeing shares jump Fed holds rates near zero, says economy has gotten better even with pandemic worries Should you be wearing a mask again? Here's a map of the Covid hot spots subject to the CDC's new guidance Ford raises its 2021 outlook after surprise second-quarter profit Facebook beats, but warns of significant growth slowdown Pfizer's CEO says Covid vaccine effectiveness drops to 84% after six months Robinhood starts trading this week. Many Reddit investors aren't interested Google postpones return to work until October, will require vaccination Here's how Facebook typically trades after second-quarter earnings Economic growth likely hot in the second quarter, but shortages may have kept it from overheating   TOP VIDEO "Markets are looking forward, not backward" on Apple stock, says Josh Brown   CNBC PRO Here's how Facebook typically trades after second-quarter earnings   SPECIAL REPORTS Another 1.5 million refunds are going out to those who paid taxes on 2020 unemployment pay Here are your best moves while the Fed keeps rates near zero   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS