U.S. stocks pared gains in late afternoon trading on Wednesday, with Nasdaq briefly turning negative as enthusiasm that followed the Federal Reserve statement faded.

The Dow Jones industrial average <.DJI> was up 24.03 points, or 0.25 percent, at 9,795.94. The Standard & Poor's 500 Index <.SPX> was up 0.35 points, or 0.03 percent, at 1,045.76. The Nasdaq Composite Index <.IXIC> was down 2.24 points, or 0.11 percent, at 2,055.08.

(Reporting by Angela Moon; Editing by Jan Paschal)