Despite the improving economy, the Fed repeated the guidance it has used since December, saying it must see "substantial further progress" towards its inflation and employment goals before stepping back from its monthly bond purchases. Google parent Alphabet Inc GOOGL.O jumped about 4% after reporting late Tuesday a record profit for the second consecutive quarter and announcing a $50 billion share buyback. Boeing Co BA.N fell about 3% after posting a wider-than-expected quarterly loss and pausing 737 MAX deliveries over an electrical issue that has partly re-grounded the fleet.