U.S. stocks closed higher as the Fed kept rates at 3.75–4.00%: the Dow rose 71 points, the Nasdaq 72 points and the S&P 500 21 points. The decision passed 10-2, with Lisa Cook and Beth Hammack dissenting in favor of a quarter-point hike. Chair Kevin Warsh said the FOMC will meet eight times next year, but only six of those meetings will decide monetary policy. Microsoft (MSFT) earned $4.89 per share, up 19% and above expectations, on $92.3 billion in revenue, while 60K of its employees are eligible for severance packages. Alphabet (GOOGL) missed on both earnings and revenue and fell 7.5%, ServiceNow (NOW) missed on earnings and dropped 16%, and Ford (F) beat estimates but its Model e unit posted a $4 billion loss.
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Fedinterest ratesKevin WarshearningsNasdaq
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Related tickers and likely impact
MSFT
• NeutralMicrosoft
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/28/2026 | 530.83 |
| Change that session | -0.09% |
QQQ
• NeutralInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 725.59 |
| Change that session | +0.60% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 772.35 |
| Change that session | +0.35% |
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 102.14 |
| Change that session | -0.22% |
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/28/2026 | 4,067.54 |
| Change that session | +0.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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