Stocks remained under pressure on Wednesday as investors continued to weigh the potential outcomes of fresh inflation data due out later this week. The Dow Jones Industrial Average fell nearly 25 points, while the S&P 500 Index and Nasdaq Composite lost roughly 0.2% and 0.6%, respectively.

Here's how the market settled on Wednesday:

S&P 500 Index (SPY  ): -0.17% or -8.42 points to 5,069.76

Dow Jones Industrial Average (DIA  ): -0.06% or -23.39 points to 38,949.02

Nasdaq Composite Index (QQQ  ): -0.55% or -87.56 points to 15,947.74

In the News: The U.S. economy grew at a slightly slower pace than previously reported in the fourth quarter, the Commerce Department reported in its revised reading on Wednesday. The country's gross domestic product grew at a 3.2% annualized rate when adjusted for seasonality and inflation, coming in 0.1 percentage point from the initial estimate.

When it comes to inflation, personal consumption expenditures rose 1.8% during the quarter and 2.1% when excluding food and energy prices, the Commerce Department reported, both 0.1 percentage point higher than their respective initial estimates.

Elsewhere, Bank of America Economist Stephan Juneau wrote in a Wednesday note that Congress may be able to stave off a "long" government shutdown before the first deadline on Friday at midnight.

"We expect Congress to pass a continuing resolution and avert a shutdown. If it fails to do so, we think a brief shutdown cannot be ruled out, but a long one looks unlikely in an election year," Juneau wrote. "Congress cannot kick the can down the road forever."

On the Earnings Front: Beyond Meat (BYND  ) shares rocketed higher Wednesday after the alternative meat giant posted strong fourth-quarter results. Market optimism for the company soared further after CEO Ethan Brown said the company is working to "stepply reduce" its operating expense and cash use this year as it looks to go beyond consumer sales to supply fast food chains like McDonald's (MCD  ) and Yum! Brands (YUM  ) with its burger patties. Still, the company's full-year net revenue forecast came in below expectations at a range of $315 million to $345 million.

In Single-Stock News: UnitedHealth Group (UHN  ) shares were lower on Wednesday on news that the U.S. Department of Justice has launched an antitrust investigation into the health insurance company, the Wall Street Journal reported on Tuesday, citing those familiar with the matter.

For Thursday: Market participants will react to fresh economic reports including a reading of the PCE index, pending U.S. home sales and initial jobless claims. Earnings reports also include Salesforce (CRM  ), HP (HPQ  ), Snowflake (SNOW  ), Paramount (PARA  ) and Okta (OKTA  ).