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F5 rises after Q2 revenue forecast tops estimates

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T-Mobile jumps after upbeat 2025 subscriber growth

forecast

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Danaher ( DHR ) falls after Q4 profit miss

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Indexes: Dow up 0.05%, S&P 500 down 0.26%, Nasdaq down

0.53%

(Updates after market open)

By Shashwat Chauhan and Sukriti Gupta

Jan 29 (Reuters) -

The S&P 500 and the Nasdaq treaded water on Wednesday, as

losses in tech heavyweights Apple ( AAPL ) and Nvidia ( NVDA ) limited broader

gains and investor focus turned to the U.S. Federal Reserve's

interest-rate decision, expected later in the day.

Markets widely expect the central bank to hold its lending

rate steady in its decision, due at 2 p.m. ET.

"Without clarity on the macro impact of a range of

government policies, primarily tariffs, but also on tax policy

and the labor market impact of immigration policy, we think it's

fair to expect limited guidance from the Fed today," Goldman

Sachs economists said in a note.

At 9:46 a.m. ET, the Dow Jones Industrial Average

rose 23.73 points, or 0.05%, to 44,874.08, the S&P 500

lost 16.71 points, or 0.26%, to 6,052.02, and the Nasdaq

Composite lost 112.68 points, or 0.53%, to 19,628.68.

Six of the 11 S&P 500 sectors were in the red, with

technology stocks leading declines with a 1.1% fall.

Nvidia ( NVDA ) dropped 3.3% after gaining close to 9%

on Tuesday. Its shares were hammered on Monday, after Chinese

startup DeepSeek launched AI models it said were cost-effective

and ran on less advanced chips compared to OpenAI.

Apple ( AAPL ) shed 1.1% after brokerage Oppenheimer

downgraded its rating to "perform" from "outperform". The iPhone

maker is scheduled to report quarterly earnings later this week.

Of the 112 companies in the S&P 500 that have reported

earnings so far, 75.9% reported numbers above analyst

expectations, according to data compiled by LSEG.

Meanwhile, shares of semiconductor firms and related

equipment makers advanced after Dutch firm ASML

reported fourth-quarter bookings of 7.09 billion euros ($7.39

billion), far exceeding expectations.

KLA Corp ( KLAC ) rose 1.5%, Applied Materials ( AMAT ) was

up 1.3%, Lam Research ( LRCX ) gained 0.5% and Micron Technology ( MU )

added 1.1% in morning trading.

The Nasdaq jumped 2% in the previous session,

while the S&P 500 rose close to 1%, as Nvidia ( NVDA )

and other artificial intelligence-linked tech shares recovered

somewhat from the steep losses suffered earlier in the week.

Markets have been on edge due to worries around U.S.

President Donald Trump's proposed tariffs, which could

exacerbate inflationary pressures and slow rate cuts.

The December reading of the personal consumption

expenditures price index, a crucial metric in assessing the

inflation trajectory, is due on Friday.

Among earnings, T-Mobile added 7.4% after the

company forecast stronger-than-expected annual subscriber growth

driven by increased demand for its affordable premium 5G plans.

Danaher ( DHR ) shed 7.7% after the life sciences company

missed estimates for fourth-quarter profit, due to soft demand

for tools and services used in drug development by its biotech

and pharmaceutical clients.

Earnings from Magnificent 7 stocks Microsoft ( MSFT ),

Facebook-parent Meta and Tesla are expected

after markets close.

Cybersecurity and cloud services company F5 jumped

5.1% after forecasting second-quarter revenue above estimates

and posting a first-quarter revenue beat.

Advancing issues outnumbered decliners by a 1.09-to-1

ratio on the NYSE, while declining issues outnumbered advancers

by a 1.29-to-1 ratio on the Nasdaq.

The S&P 500 posted 18 new 52-week highs and two new

lows, while the Nasdaq Composite recorded 36 new highs and 52

new lows.

($1 = 0.9628 euros)