The FOMC keeps rates steady, but with two dissenting votes. Odds of a rate cut in September fall below 50%. Stocks sell off and yields rise as Chairman Powell speaks.

Hershey gained 2.3% on results that topped forecasts. VF Corp, parent of Vans, jumped 9.3%, while Kraft Heinz was largely steady after both companies beat quarterly revenue estimates, adding to the consumer-driven rally.

Wall Street held its ground on Wednesday, as investors digested robust GDP numbers and looked ahead to the Federal Reserve's policy decision and earnings from major technology companies.