Meta Platforms and most other U.S. stocks are rising, but drops for Nvidia and Microsoft are weighing on the market. The S&P 500 rose 0.3% in afternoon trading Thursday.

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

Microsoft reported second-quarter earnings and revenue that beat Wall Street estimates on Wednesday. The company said earnings were $3.23 a share on revenue of $69.6 billion. Analysts surveyed by FactSet were expecting earnings of $3.

The final earnings release of 2024 finalized another difficult year for Tesla’s bottom line, as its full-year net income came in at $8.4 billion, a 23% decrease from 2023 and a 40% decline from 2022’s record $14.1 billion profit, though its full-year revenue rose $97.7 billion, a 1% improvement from 2023’s record.