Major US equities benchmarks started Wednesday on a positive note, gaining on signs that the Federal Reserve would rethink its path of rate hikes into next year.

But indexes pared gains, with the Dow Jones Industrial Average closing flat, while the S&P 500 and Nasdaq were up 0.30% and 0.92%, respectively.

The Dow was up as much as 200 points earlier in the day, before falling in low volume trading ahead of the Thanksgiving holiday. The New York Stock exchange will be closed on Thursday and will close at 1pm on Friday.

The three days of trading mark the worst start to the Thanksgiving week for the major benchmarks since 2011, according to Dow Jones Market Data, per MarketWatch.