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

Microsoft isn't slowing down. The world's second-largest company by market cap reported blockbuster fourth-quarter earnings, sending shares surging so high after hours that the tech giant became a member of the exclusive $4 trillion club.

Broadcom stock rallied 2% to hit a new high, while Palantir gained 0.4%, bouncing back from Monday's losses. Tesla skidded more than 1%, as it still tries to regain its 50-day moving average. And Uber stock steered 2.5% lower, threatening to breach its own 50-day line for the first time since late April.

Investors focus on the Fed's policy decision and Chair Jerome Powell's news conference. Earnings from Meta and Microsoft are due after the closing bell.

U.S. equities are poised for gains at the open on Tuesday, with futures on the Dow Jones, S&P 500, and Nasdaq all trending upward in pre-market activity. The advance follows a mixed but resilient close on Monday,