Investing.com - Nasdaq and S&P 500 futures ticked up on Wednesday, after stock markets stabilized in the prior session in the wake of sharp declines earlier in the week that were inspired by a new Chinese AI model.

Shares of ASML jumped 10.6% after the Dutch company reported better-than-expected fourth-quarter bookings of 7.088 billion euros ($7.39 billion). Its peers ASM International, BE Semiconductor and Infineon gained between 2.7% and 7.5%. Technology was the top winning sector, soaring 4.5%.

The central bank‘s decision on rates will be announced later in the session.These stocks were poised to make moves Wednesday:U.S.-listed shares of ASML, the Dutch semiconductor equipment maker, rose 7% in premarket trading after fourth-quarter bookings surpassed analysts’ forecasts.

U.S. stocks slipped after the Federal Reserve held its main interest rate steady and broke a run of cuts that began in September

European stocks are expected to open in mixed territory Wednesday as global market jitters over AI tech rivalry between the U.S. and China eases.

Global stocks have advanced in thin Lunar New Year trading following a rebound on Wall Street driven by tech stocks as the panic over Chinese AI company DeepSeek fades. Most markets in Asia were closed on Wednesday.

US stock futures and European equities advanced, following Wall Street’s rebound from a global market selloff as focus turns to the Federal Reserve’s interest-rate decision and US tech earnings.

The US Federal Reserve decided to hold its key interest rate steady on Wednesday (January 29), maintaining it in the range of 4.25%-4.5%. The decision by the central bank’s Federal Open Market Committee (FOMC) came as anticipated,

Nvidia (NASDAQ: NVDA) stock fell 1.3%, a day after the chipmaker rallied to recover some of Monday’s steep losses suffered on Monday. Week to date, the stock is down more than 9% after the DeepSeek-sparked sell-off to start the week.

The Federal Reserve announces its decision at 2 p.m. Jerome Powell speaks shortly thereafter. Live updates on stocks, bonds and markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

By Nikhil Sharma (Reuters) -European shares hit a record high on Wednesday, as chip equipment maker ASML led technology stocks higher after reporting strong quarterly results. The pan-European STOXX 600 was up 0.