Stocks clawed higher in choppy trade on Wednesday, reversing earlier losses after the Federal Reserve acknowledged a faltering pace of economic recovery.

* The central bank also repeated its vow to hold interest rates exceptionally low for an extended period.

* The Dow Jones industrial average <.DJI> gained 53.13 points, or 0.52 percent, to 10,346.65. The Standard & Poor's 500 Index <.SPX> edged up 2.45 points, or 0.22 percent, at 1,097.76. The Nasdaq Composite Index <.IXIC> added 5.22 points, or 0.23 percent, to 2,267.02.

(Reporting by Leah Schnurr; Editing by Kenneth Barry)