The central bank will release its monetary policy report to Congress on Friday.
In the latest US economic data, a Commerce Department report showed factory goods orders fell 0.8 per cent in May, following a revised 0.3 per cent slide in April.
May's decline was larger than economists had predicted though April's drop was smaller than initially reported.
In 3:13pm trading in New York, the Dow Jones Industrial Average slipped 0.03 per cent. However, the Nasdaq Composite Index gained 0.55 per cent. In 2.58pm trading, the Standard & Poor's 500 Index added 0.09 per cent.
US financial markets were closed on Tuesday for the July 4 holiday.
The Dow inched lower as declines in shares of Walt Disney and those of Exxon Mobil, recently 1.9 per cent and 1.8 per cent weaker respectively, outweighed advances in shares of Intel and those of Boeing, recently up 2.4 per cent and 1.7 per cent respectively.
Shares of Chevron also declined, down 1.7 per cent in late afternoon trading, with other energy stocks as the price of oil slid amid reports that Russia does not support additional production cuts for OPEC and its non-OPEC partners to help ease the global glut.
"Energy I have a real hard time getting excited about," Robert Phipps, director at Per Stirling Capital Management in Austin, Texas, told Reuters. "The technology has come along where the cost of production just keeps coming down and down."
Shares of O'Reilly Automotive plunged, down 18.6 per cent as of 3.33pm in New York, after the car parts retailer reported same-store sales for its latest quarter that fell short of its own guidance. Shares of rivals including Advance Auto Parts and AutoZone also slid, down 11.2 per cent and 9.3 per cent respectively.
In Europe, the Stoxx 600 Index finished the session with a 0.2 per cent increase from the previous close. The UK's FTSE 100 Index rose 0.1 per cent, while Germany's DAX Index added 0.1 per cent, and France's CAC40 Index also gained 0.1 per cent.