The Nasdaq Composite and S&P 500 Index were both down in late-morning trading Wednesday, while the Dow Jones Industrial Average was up slightly as investors await the Federal Reserve's first rate decision of 2025 in the afternoon.

In company news, ASML Holding (ASML) reported Q4 earnings Wednesday of 6.84 euros ($7.12) per diluted share, up from 5.20 euros a year earlier and above the consensus estimate of analysts polled by FactSet of 6.72 euros. Fourth-quarter net sales were 9.26 billion euros, up from 7.24 billion euros in the year-ago period and above the FactSet consensus of 9.06 billion euros. For the ongoing quarter, ASML expects sales to be in a range of 7.5 billion euros to 8 billion euros, compared to the FactSet consensus of 7.21 billion euros. Shares of ASML were up 3.4% around midday.

T-Mobile US (TMUS) reported Q4 earnings Wednesday of $2.57 per share, up from $1.67 a year earlier and above the FactSet analyst consensus estimate of $2.29. Fourth-quarter revenue was $21.87 billion, up from $20.48 billion in the year-ago period and above the FactSet consensus of $21.33 billion. For the ongoing year, adjusted earnings before interest, taxes, depreciation and amortization is expected to be in a range of $33.1 billion to $33.6 billion, reflecting annual growth of 5% at the midpoint. Capital expenditures are estimated to be at roughly $9.5 billion. T-Mobile shares were up 8.8%.

Danaher (DHR) reported Q4 adjusted earnings Wednesday of $2.14 per diluted share, up from $2.09 a year earlier but below the FactSet analyst consensus estimate of $2.16. Fourth-quarter revenue was $6.54 billion, up from $6.41 billion in the year-ago period and above the FactSet consensus estimate of $6.44 billion. For Q1, the company expects non-GAAP core revenue to decline by low-single digits year over year. For 2025, the company expects non-GAAP core revenue to increase by about 3% year over year. Danaher shares were down 8.7%.

Microsoft-backed (MSFT) OpenAI said it has evidence that Chinese artificial-intelligence startup DeepSeek used the San Francisco-based company's AI models to train its offering in a possible infringement of OpenAI's intellectual property, the Financial Times reported Wednesday. Microsoft shares were down 0.8%.

Trump Media and Technology Group (DJT) said Wednesday that it plans to enter the financial services sector via Truth.Fi, investing up to $250 million from its $700 million in cash reserves across various assets, including bitcoin. Trump Media shares were up 8.6%.

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