Investors braced for the Federal Reserve's next interest rate decision and earnings from tech giants Microsoft and Meta.

U.S. stock indexes are drifting on Wednesday after the Federal Reserve decided to keep interest rates where they are.

The conclusion of the Federal Reserve’s policy meeting on Wednesday could produce a historic dissent. If so, investors should be prepared to do, well, nothing, according to one Wall Street veteran. The Fed is seen as virtually certain to leave interest rates unchanged despite intense pressure from President Donald Trump and his allies on Chair Jerome Powell to deliver a cut.

Microsoft Corp. is set to become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in extended trading Wednesday.

Shares in the tech giant jumped after earnings came in above estimates. CEO Satya Nadella said that cloud and AI continue to drive the company's growth. Microsoft stock surged in after-hours trading on Wednesday after the tech giant beat analysts' expectations for another straight quarter.