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Sagging tech stocks weighed on US indexes, as Wall Street rethinks AI leadership after the arrival of DeepSeek, a Chinese disruptor claiming big results at a smaller cost. With many Asian markets still closed for the Lunar New Year, Japan's Nikkei 225 will carry the baton after pretty much cueing off Wall Street's ups and downs all week. The S&P 500 and Nasdaq briefly extended losses after the Federal Open Market Committee closed out its two-day policy meeting with hawkish hold that left markets thinking rates might not come down again for a while, if at all.

(Bloomberg) -- Stocks slipped and short-dated bond yields rose, though both pared bigger moves as early concern that the Federal Reserve was growing more worried about inflation got tamped down by Chair Jerome Powell.Most Read from BloombergManhattan’s Morning Commute Time Drops With New Congestion TollTrump's Federal Funding Pause Threatens State Financials Housing Aid Uncertain After Trump’s Spending Freeze MemoUS Students’ Reading Scores Drop to Worst in More Than 20 YearsTexas HOA Charged Wi

Semiconductor testing company Teradyne (NASDAQ:TER) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 12.3% year on year to $752.9 million. Its non-GAAP profit of $0.95 per share was 4.5% above analysts’ consensus estimates.

Freight delivery company Landstar (NASDAQ:LSTR) reported Q4 CY2024 results topping the market’s revenue expectations, but sales were flat year on year at $1.21 billion. Its GAAP profit of $1.31 per share was 2.5% below analysts’ consensus estimates.

Electric vehicle pioneer Tesla (NASDAQ:TSLA) fell short of the market’s revenue expectations in Q4 CY2024 as sales rose 2.1% year on year to $25.71 billion. Its non-GAAP profit of $0.73 per share was 5.2% below analysts’ consensus estimates.

Home appliances manufacturer Whirlpool (NYSE:WHR) fell short of the market’s revenue expectations in Q4 CY2024, with sales falling 18.7% year on year to $4.14 billion. The company’s full-year revenue guidance of $15.8 billion at the midpoint came in 2.8% below analysts’ estimates. Its GAAP loss of $7.10 per share was significantly below analysts’ consensus estimates.

Freight transportation intermediary C.H. Robinson (NASDAQ:CHRW) fell short of the market’s revenue expectations in Q4 CY2024, with sales flat year on year at $4.18 billion. Its non-GAAP profit of $1.21 per share was 9.3% above analysts’ consensus estimates.

Social network operator Meta Platforms (NASDAQ:META) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 20.6% year on year to $48.39 billion. On the other hand, next quarter’s revenue guidance of $40.65 billion was less impressive, coming in 2.4% below analysts’ estimates. Its GAAP profit of $8.02 per share was 18.7% above analysts’ consensus estimates.

Microsoft reported fiscal second-quarter Intelligent Cloud revenue that missed analysts’ expectations, sending shares lower after the bell Wednesday.

Enterprise workflow software maker ServiceNow (NYSE:NOW) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 21.3% year on year to $2.96 billion. Its non-GAAP profit of $3.67 per share was in line with analysts’ consensus estimates.