US equity indexes traded mixed ahead of quarterly earnings reports from three mega-caps in the so-called Magnificent-7 group of companies and Federal Reserve Chair Jerome Powell's views on the path ahead for interest rates.

The Nasdaq Composite fell 0.7% to 19,604.1, with the S&P 500 down 0.3% to 6,047.2. The Dow Jones Industrial Average rose less than 0.1% to 44,872.3. Leading intraday decliners were technology and real estate. Financials, utilities, and consumer staples were among the gainers.

Gold futures rose 0.2% to $2,793.81 an ounce after touching $2,802.80 earlier in the session, the highest on record for the yellow metal on an intraday basis.

Microsoft (MSFT), Meta Platforms (META), and Tesla (TSLA), which together are said to account for about 12% of the S&P 500, will release quarterly earnings after the bell on Wednesday.

The Fed will announce its interest rate decision on Wednesday afternoon. According to the FedWatch Tool, the central bank will almost certainly leave its target rate unchanged at 4.25% to 4.5%. Powell will hold a press conference at 2:30 pm.

US Treasury yields were mixed, with the benchmark 10-year down 1.5 basis points to 4.53%. The two-year rate stood unchanged at 4.21%.

In company news, ASML's (ASML) US-listed shares advanced 3.7% after the Dutch chip equipment manufacturer issued an upbeat Q1 sales outlook on the back of better-than-expected Q4 results.

F5 (FFIV) reported fiscal Q1 non-GAAP earnings and net revenue late Tuesday that beat the average analyst estimates compiled by FactSet. For fiscal 2025, the company raised its revenue and EPS growth expectations. Its shares soared more than 11% intraday, the top performer on the S&P 500.

T-Mobile US (TMUS) reported better-than-expected Q4 results, aided by its postpaid phone subscriber additions ahead of Wall Street's projections. Shares jumped 8.8%, among the biggest gainers on the S&P 500 and the Nasdaq.

West Texas Intermediate crude oil futures fell 0.5% to $73.43 a barrel.