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Earlier gains on the Nasdaq were wiped out in the final hour of trade after Apple shares sold off for their second day in a row. The S&P 500 and Dow were already lower after a disappointing first estimate for quarterly GDP. Apple fell after billionaire investor Carl Icahn said he no longer has a position in the company. Icahn said the tech giant's growth in China looks uncertain given the country's government could throw a regulatory curveball. Oracle slipped after announcing plans to purchase Textura in a deal worth $663 million. Oracle expects the deal to close by the end of the year. Viacom has narrowed its list of bidders for a stake in Paramount Pictures down to just a few. Negotiations will begin in late May.

Wall Street tried for gains across the board as crude spiked and the Fed proved its dovishness yet again. But disappointing tech earnings from Apple and Twitter prevented the sector from joining in on positive momentum. The central bank opted to keep its federal funds rate unchanged in April and maintained its views on the economy. The decision to hold rates pat was near unanimous with Esther George, president of the Kansas City Fed, the only dissenter. The Fed will meet again in June. H&R Block was down after announcing that it will cut 250 jobs, or 13% of its workforce. The job cuts come after a disappointing tax season in which the number of U.S. tax returns it handled fell nearly 6%.

Stocks held lower after world's largest company Apple posted disappointing sales for its recent quarter. The tech giant shaved 50 points off the Dow Jones Industrial Average after reporting its first sales decline in more than a decade. Pending home sales reached a 10-month high last month. March marked the measure's second monthly increase, a positive sign of momentum for the critical spring buying season. eBay spiked after topping first-quarter estimates on its top- and bottom-line. Revenue climbed nearly 4%, driven by customer growth in its ticket sales Stubhub business and Ebay's classifieds division. Chipotle slid after reporting a double-digit decline in revenue and same-restaurant sales.

Apple's disappointing quarterly results pushed the broader indexes lower on Wednesday. An 18 percent drop in iPhone sales prompted the company to post its first quarterly decline in revenue since 2003. 'The problem is, this stock has become so iconic for growth investors, that even a break after 51 quarters of continuous growth is taken very badly,' said Michael Ingram, a market analyst with BGC Partners based in London. Meanwhile, Boeing posted first quarter earnings per share of $1.74, missing estimates of $1.82. Revenue of $22.6 billion beat forecasts of $21.44 billion. Yahoo! said it will add four new board members in a deal with activist investor Starboard Value. The company is weighing a sale of its core web business. Finally, investors are gearing up for the Federal Reserve's April statement. While economists don't expect the central bank to announce a hike to short-term interest rates, they will be watching for the Fed's language on the state of the economy and possible clues on the timing of a future rate hike. TheStreet's Scott Gamm reports from Wall Street.

It's Fed Day. The Federal Reserve wraps up its meeting today and general consensus is that the Central Bank is in no mood to raise interest rates in a still fragile global economy. The Governors may make a statement, however, about its intentions during the June meeting. Comcast

Stocks remained mixed through the afternoon. A rally in energy and a selloff in health care cancelled one another out to keep indexes trading within a narrow range. Hershey fell after reporting a larger-than-expected decline in sales for its third quarter in a row. The chocolate company suffered weaker demand in North America, its largest market. Overall sales fell nearly 6%. JetBlue enjoyed a 45% bump in first-quarter profits as passenger revenue grew and fuel prices tumbled. Fuel costs fell just over 35% over the quarter, averaging $1.17 a gallon. Standard & Poor's removed its AAA credit rating for Exxon Mobil on forecasts oil prices will remain lower for longer. Microsoft and Johnson & Johnson are now the only companies with a AAA credit rating.

Stocks lost earlier highs as the health care sector pulled lower. Major drugmaker Eli Lilly cut full-year profit estimates, sparking concern over the profitability of other health care stocks. Consumer sentiment worsened in April as economic expectations grew more pessimistic, according to the Conference Board. Sentiment on current business conditions also fell, while the number of consumers planning to buy big-ticket items such as cars or homes in the next six months declined. Procter & Gamble bested third-quarter earnings estimates, though sales did fall on currency exchange and the negative impact from the Venezuelan economic crisis. P&G also detailed plans to repurchase shares totaling $8 billion this fiscal year.

U.S. stocks gained steam amid a host of strong earnings released on Tuesday. DuPont shares rose after the company raised its 2016 profit outlook amid strength in its agricultural business. The company now expects earnings between $3.05 and $3.20

Wall Street started out the week in the red, holding onto modest losses through to the end of the session. Another crude selloff dragged on energy, while investors looked ahead to the kickoff of the Fed April meeting tomorrow. GoPro slumped after Pacific Crest warned the camera maker is suffering from too much inventory and not enough demand. The company is expected to report a first-quarter loss when it reports on May 5. Charter Communications has received approval from antitrust regulators to proceed with its $55-billion takeover of Time Warner Cable . Charter agreed to not make deals with programmers to block content from third parties such as Netflix .

Stocks extended losses by the middle of the session as crude oil returned to negative territory. Crude for June delivery was trading around the $43-mark after a massive rally last week that pushed it more than 8% higher. The number of new homes sold in March in the U.S. fell, though remained above 500,000 for its fourth straight month in a row. That's its best winning streak since the beginning of 2008. February's pace was upwardly revised. Xerox fell as restructuring costs related to its planned split reduced profit from a year earlier. On an adjusted basis, earnings of 22 cents a share missed expectations by a penny. Revenue fell 4%. Caterpillar was upgraded to neutral from sell at Goldman Sachs. Analysts said the company is leveraged to higher construction demand in China.