12:27 PM EDT, 05/07/2025 (MT Newswires) -- US equity indexes and government bond yields traded mixed in midday trading Wednesday ahead of the Federal Reserve's policy decision and potentially upcoming trade talks with China.

The Nasdaq Composite slid 0.4% to 17,616.1, the S&P 500 rose 0.1% to 5,614.3, and the Dow Jones Industrial Average climbed 0.6% to 41,081.2.

All sectors except technology and communication services gained intraday. Consumer discretionary and financials led the gainers.

The Fed's monetary policy decision is due at 2 pm ET, and Chair Jerome Powell will hold a press briefing at 2:30 pm ET. Currently, the CME's FedWatch tool shows a 97% probability that the Fed will hold the target range for its federal funds rate at 4.25% to 4.50%.

Meanwhile, US Treasury Secretary Scott Bessent is set to meet China's lead representative on economic matters in Switzerland later this week, the Treasury said in a Tuesday statement. "I look forward to productive talks as we work towards rebalancing the international economic system towards better serving the interests of the US," Bessent said.

US Treasury yields traded mixed intraday. The 10-year rate fell 2.3 basis points to 4.3% while the two-year yield rose 2.9 basis points to 3.82%.

In company news, Walt Disney ( DIS ) lifted its full-year earnings growth outlook on Wednesday as the company reported an increase in fiscal Q2 adjusted earnings, buoyed by its entertainment and experiences businesses. Shares surged 10.6% intraday, the top performer on the Dow.

West Texas Intermediate crude oil futures dropped 1.2% to $58.37 a barrel.