The Dow Jones Industrial Average gained 36 points, or 0.12%, to 30,723, the S&P 500 rose 0.1% while the Nasdaq lost steam late in the session to finish down 0.02%.
The retail frenzy in stocks such as GameStop (GME) - Get GameStop Corp. Class A Report and AMC Entertainment (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report also subsided further.
Shares of GameStop, the videogame retailer, finished up 2.7% Wednesday after falling 60% in the previous session. GameStop had been the focal point of the recent short-squeeze driven trading frenzy.
GameStop appointed Amazon Web Services' engineering lead, Matt Francis, as its chief technology officer.
Treasury Secretary Janet Yellen, meanwhile, summoned officials from the Securities and Exchange Commission, the Federal Reserve, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission to discuss the recent market volatility driven by retail trading in stocks like GameStop.
On the stimulus front, President Joe Biden's $1.9 trillion package was being pushed through by Democrats without Republican support.
Andy Jassy, the head of Amazon’s cloud computing division, will take over day-to-day control of Amazon. Bezos will become executive chairman.
Alphabet shares finished up 7.3% Wednesday after the parent of Google reported fourth-quarter earnings that easily topped Wall Street estimates.
Advertising revenue in the quarter rose 22% to $46.2 billion. Ad sales at YouTube rose 46% to $6.9 billion.
The private sector in the U.S. added 174,000 jobs in January, higher than estimates of 48,000. The data from the ADP National Employment Report serve as a precursor to the official U.S. jobs report, which will be released Friday.