The Dow Jones Industrial Average lost 0.53 point, or 0.0015 percent, to 34,377.81. The S&P 500 increased 13.15 points, or 0.30 percent, to 4,363.80. The Nasdaq Composite Index jumped 105.71 points, or 0.73 percent, to 14,571.64.
Nine of the 11 primary S&P 500 sectors ended in green, with utilities and materials up 1.14 percent and 0.75 percent, respectively, outpacing the rest. Financials and energy slipped 0.64 percent and 0.1 percent, respectively.
J.P. Morgan reported earnings and revenue that exceeded Wall Street estimates, fueled by deal-making and loan growth. Yet, the stock fell more than 2 percent on Wednesday.
U.S.-listed Chinese companies traded higher with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
U.S. Federal Reserve officials broadly agreed last month the central bank could start tapering asset purchases in mid-November or mid-December, according to the minutes of the Fed's recent policy meeting released Wednesday.
The Fed has pledged to continue its asset purchase program at least at the current pace of 120 billion U.S. dollars per month until "substantial further progress" has been made on employment and inflation. The central bank will hold its next policy meeting on Nov. 2-3.
On the economic front, the U.S. Consumer Price Index (CPI) rose 0.4 percent in September, for a 5.4 percent year-over-year increase, the U.S. Bureau of Labor Statistics reported Wednesday. Economists expected to see a month-to-month increase of 0.3 percent or annualized rate of 5.3 percent, according to Dow Jones.
The core CPI, which excludes food and energy, rose 0.2 percent, for a 4.0 percent year-over-year increase.
"CPI inflation in September was high in sectors plagued by persistent supply chain bottlenecks but lower in sectors where demand is more sensitive to the Delta wave," Will Compernolle, senior economist at FHN Financial, said in a note.
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