Stocks ended the session mixed as investors weighed strong results from the likes of Walmart against more conflicting signals about the status of a U.S.-Chinese trade deal as well as potential progress on getting USMCA passed.


Despite the modest moves, U.S. stocks remain near or at record levels.

Meanwhile, Federal Reserve Chairman Jerome Powell testified on Capitol Hill for a second day, saying that he doesn't expect sluggish U.S. factory activity to spill into the broader economy. On Wednesday, Powell told the Senate Banking Committee that he expects the U.S. economy to keep growing at a solid pace, but there are risks from slower global growth and trade tensions.

In corporate earnings, Dow component Walmart reversed early gains after providing a boost after the retail giant reported online sales surged 41 percent amid strength in groceries. The world's largest retailer raised its full-year adjusted earnings per share guidance ahead of the crucial holiday quarter.

President Trump fired off a congratulatory tweet to the world's largest retailer.

Elsewhere, cannabis producer Canopy Growth's adjusted core loss widened to 155.75 million Canadian dollars. It also said it would stop expanding in Canada shares took a beating.

Tyson Foods gained after China lifted a ban on U.S. poultry that had been in place since January 2015. The decision paves the way for the U.S. to export more than $1 billion worth of poultry and poultry products to China each year.

In trade news, the United States-Mexico-Canada Agreement may be closer to getting passed after House Speaker Pelosi, insists it remains a priority.

“I’d like to see us get it done this year, I mean, that would be my goal,” House Speaker Nancy Pelosi told reporters on Capitol Hill, adding that she wants the USMCA to “be a template for future trade agreements.”

In U.S.-China news, China's Commerce Ministry said canceling tariffs is an important condition for reaching a phase one trade agreement.

Investors were wary after The Wall Street Journal reported Wednesday evening that Chinese negotiators were reluctant to commit to the size of purchases of U.S. farm goods in an interim agreement aimed at ending a tariff war. White House trade adviser Peter Navarro told FOX Business' Liz McDonald later on Wednesday that the report is "rumor stuff" and said someone is "making a lot of money moving the markets." Read more at FOX Business