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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 0.04%, S&P 500 down 0.36%, Nasdaq down

0.69%

(Updates with mid-session prices)

By Shashwat Chauhan and Sukriti Gupta

Jan 29 (Reuters) - The S&P 500 and the Nasdaq slipped on

Wednesday, as losses in tech heavyweights Apple ( AAPL ) and Nvidia ( NVDA )

pressured broader gains and cautious investors braced for 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, which is due at 2 p.m. ET.

"This is one of the least interesting Fed meetings that

we've had in quite some time. Market expectations are totally

nil for today and I just don't expect to hear anything that is

going to move the needle," said Mike Dickson, head of research

at Horizon Investments.

At 11:23 a.m. ET, the Dow Jones Industrial Average

rose 18.05 points, or 0.04%, to 44,868.40, the S&P 500

lost 21.63 points, or 0.36%, to 6,046.03, and the Nasdaq

Composite lost 136.74 points, or 0.69%, to 19,596.84.

Seven of the 11 S&P 500 sectors were trading higher,

although information technology dropped 1.4%,

overshadowing gains.

Nvidia ( NVDA ) fell 4.6% after rising 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.

"Nvidia ( NVDA ) was priced to perfection... you're going to see some

continued pockets of volatility as this theme evolves," Dickson

said.

Apple ( AAPL ) shed 0.6% after brokerage Oppenheimer

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

maker is scheduled to report quarterly earnings later this week.

The Nasdaq jumped 2% in the previous session, while

the S&P 500 rose close to 1%, as some artificial

intelligence-linked tech shares pared back some losses.

Earnings from Magnificent 7 stocks Microsoft ( MSFT ),

Facebook-parent Meta and Tesla are expected

after markets close.

Meanwhile, T-Mobile added 8.7% after the

company forecast stronger-than-expected annual subscriber growth

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

Danaher ( DHR ) shed 8.6% after the life sciences company

missed estimates for fourth-quarter profit, while cybersecurity

and cloud services company F5 jumped 10.7% after

forecasting second-quarter revenue above estimates and posting a

first-quarter revenue beat.

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.

Shares of semiconductor firms and related equipment

makers received a boost after Dutch firm ASML reported

fourth-quarter bookings of 7.09 billion euros ($7.39 billion),

far exceeding expectations.

Most were off session highs, with KLA Corp ( KLAC ),

Applied Materials ( AMAT ), Lam Research ( LRCX ) and Micron

Technology ( MU ) last up around 1% each.

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

President Donald Trump's proposed tariffs, which could

exacerbate inflationary pressures and slow the pace of rate

cuts.

The December reading of the personal consumption

expenditures price index, a crucial metric in assessing the

inflation trajectory, is due on Friday.

Advancing issues outnumbered decliners by a 1.03-to-1

ratio on the NYSE, while declining issues outnumbered advancers

by a 1.27-to-1 ratio on the Nasdaq.

The S&P 500 posted 28 new 52-week highs and three new

lows, while the Nasdaq Composite recorded 52 new highs and 76

new lows.

($1 = 0.9628 euros)