The S&P 500 ended 0.3% higher and the Nasdaq 100 rose 0.5% on Wednesday after the Federal Reserve kept rates unchanged, while Nasdaq-100 futures fell 1.2% after Alphabet's weaker earnings. Alphabet shares slid about 11% after hours as heavy AI infrastructure spending and investment losses squeezed profit. Fed Chair Kevin Warsh announced a structural shift, with rate decisions at seven of eight scheduled 2027 meetings and six votes per year by 2028; the Fed held rates at 3.75% to 4%, with a 10–2 vote. Oracle shares rallied about 11% after executives outlined a net cash-flow-positive outlook, Microsoft gained about 3% after hours after results beat expectations, Nvidia slipped 1% after reports the DOJ asked about its planned Hugging Face acquisition, and Lumentum soared 10% after hours on a report that Marvell is in talks to buy it.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Fedinterest ratesS&P 500NasdaqKevin Warsh
Open a keyword to see other news on the same topic.
Related tickers and likely impact
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/28/2026 | 325.61 |
| Change that session | +1.57% |
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/28/2026 | 215.39 |
| Change that session | -1.17% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 725.59 |
| Change that session | +0.60% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 772.35 |
| Change that session | +0.35% |
MSFT
▼ Likely negativeMicrosoft
Relevance: medium
| 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% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Notes on FOMC Decision and Earnings After the Close
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.
- Stock Market Today, Oct. 28: Markets Edge Higher as Fed Holds Rates Steady
The S&P 500 rose 0.28% to 7,744, the Nasdaq Composite gained 0.27% to 26,550 and the Dow Jones Industrial Average added 0.19% to 52,475 after the Federal Reserve held rates steady. Gold rose 0.10% to $4,068.14, while the 10-year Treasury yield climbed 0.02% to 5.02%, crossing the 5% threshold. Vertiv Holdings jumped nearly 17% on bullish long-term AI infrastructure demand forecasts, Oracle surged 11% after an investor day with new financial targets, and F5 plunged over 20% on its guidance and an analyst downgrade. Chair Kevin Warsh stressed the committee's commitment to reducing inflation, and officials said further data would inform rate decisions at the December meeting. After the bell, Microsoft beat expectations, particularly for its Azure cloud unit, while Alphabet shares slid after its revenue and sales fell short of analyst predictions.
- Stock market today: Dow, S&P 500, Nasdaq futures rise ahead of busy week of earnings, Fed rate decision
US stock futures rose Monday morning, with Dow futures up 0.4%, S&P 500 futures up 0.3% and Nasdaq-100 futures up 0.3%, after the S&P 500 and Nasdaq Composite each logged a second straight weekly loss. Brent crude fell below $110 a barrel after hitting its highest level since April amid escalating Middle East tensions, with Houthi attacks on Saudi Arabia keeping supply concerns in focus. The Federal Reserve is widely expected to hold rates steady at its meeting this week, though after hotter-than-expected inflation data, many experts expect Chair Kevin Warsh to lean toward a 'hawkish pause.' The ECB, Bank of Canada and Bank of Japan also hold policy meetings this week.
- Investors look to earnings to reset the bull market. The key level to watch on the S&P 500
The S&P 500 remains in an uptrend but is chopping around a flat 50-day moving average, a level first reached 11 weeks ago. AI-hardware stocks have sold off sharply, bank shares are trading poorly after results, credit markets are under strain, and the Nasdaq has retreated 5%. JP Morgan's Jason Hunter leans cautious, saying a further drop of about 2.5% to 7500 would cost the market the benefit of the doubt. The article recalls 2018, when the S&P 500 fell 19% in the fourth quarter of a midterm year even as earnings grew more than 20%, while tightening now comes from higher Treasury yields, wider credit spreads and a stronger dollar. Bank of America's Aditya Bhave maintains a non-consensus call for an October Fed rate hike, while Morgan Stanley's Mike Wilson argues Chairman Warsh should acknowledge the tightening.
- Vanguard Economist Says: Fed Rate Hikes Won't Hurt Stock Prices (Yet)
Vanguard Global Chief Economist Joe Davis says further Fed rate hikes are unlikely to seriously hurt the stock market or the economy, even after the Fed raised rates to 3.75% to 4% in September and Chair Kevin Warsh appears determined to fight inflation. According to Davis, the risk of significant earnings declines only emerges when rates go materially higher, north of 5%. The current fed funds rate of 3.88% is 76 basis points below its 50-year average of 4.64%. The article notes the S&P 500 has averaged 9.98% annualized returns since 1928, and the Vanguard S&P 500 ETF (VOO) delivered 13.75% annualized over the past five years, so long-term investors need not fear rate hikes enough to stop buying stocks.
- U.S. stock futures flat with Fed rate decision, megacap tech earnings on tap
U.S. stock index futures were little changed before the Fed concluded its meeting, with Nasdaq 100 futures up 0.1% to 29,839.75 points, S&P 500 futures flat at 7,759.25 points and Dow Jones futures at 52,586.0 points. The Fed is widely expected to keep rates at 4.0% after its 25 basis-point hike in September, but markets remained cautious about the outlook as inflation stays sticky, and Chair Kevin Warsh's remarks after the decision are closely watched. Tech sentiment stayed upbeat, helped by SK Hynix's bumper third-quarter results and Anthropic's IPO filing, which restored confidence in the AI trade. Investors also await third-quarter GDP and September PCE data on Thursday, while Microsoft and Alphabet report on Wednesday and Amazon on Thursday.
Related markets
Latest news
- Samsung Electronics third-quarter profit in line with estimates amid rising demand for AI memory chips
Samsung Electronics reported third-quarter operating profit broadly in line with analysts' expectations, as demand for advanced memory chips used in AI applications kept growing. Revenue reached 195.25 trillion won (LSEG SmartEstimates expected 195.79 trillion won), and operating profit reached 107.44 trillion won (expected 107.66 trillion won). Year-on-year, revenue rose 126.88% and operating profit rose 783.11%, while revenue increased 13.85% from the previous quarter. During the quarter, Samsung and five affiliates announced a combined $1 billion investment in KKR-backed Helix Digital Infrastructure, with Samsung contributing $500 million. Samsung also partnered with French AI startup Mistral AI to apply AI technologies across its semiconductor operations, including chip design and manufacturing, and led Mistral's Series D funding round.
- From November 1, Certain iPhones Will No Longer Be Able to Make Bank Transfers or Top-Ups Above VND 10 Million
From 0:00 on 1 November 2026, TPBank will stop supporting face authentication on iPhones and iPads running iOS below 16.7, which may disrupt some transactions. Affected transfers and e-wallet top-ups are those over 10 million VND per transaction or exceeding 20 million VND per day, as well as bill payments above 100 million VND per transaction or per day. Actions that require face authentication, such as first-time logins, logins on other devices or via website, password resets, and changes to phone number or email, may also be affected. The bank asks customers to update to iOS 16.7 or later via Settings > General > Software Update before the deadline, or to use another compatible device if upgrading is not possible. The change does not lock all transactions on older devices; the impact mainly concerns operations that require face authentication.
- Here's Why Micron Is a Top AI Stock to Buy Right Now
Micron (MU) shares have more than tripled so far in 2026, and the author believes the company could repeat that performance in 2027. Micron makes NAND and HBM memory chips, key components of AI data center hardware, and it and its peers have already sold out their production capacity for this year. Management expects memory market tightness to be worse in 2027 and 2028 than in 2026, even though new Micron facilities begin coming online in mid-2027. The company is also shifting to long-term supply agreements with price floors and ceilings, under which 35% of its revenue through 2030 is already known. The stock trades at under 5 times forward earnings; the author says it could triple again if it returns to the 15-times level it reached in June, and views the current low valuation as a favorable time for investors to get in.
- Google Pitches Banks on Splitting Crypto Keys Across Clouds With New Custody Service
Google Cloud unveiled Google Multi-Party Compute, a key-signing service that splits control of a crypto key across several parties, such as a bank's own hardware, Google Cloud and a rival cloud provider, so no single provider holds the full key. The service is in private preview, with unnamed banks testing it and Alphabet using it for its Ethereum and Solana holdings. Customers set the signing threshold, such as 2-of-3 or 5-of-7, and a policy engine checks transactions against rules like spending caps; the article notes this verdict is advisory and enough signers can override a denial. General availability is targeted for early 2027 with no pricing disclosed, and the product puts Google up against BitGo, Fordefi and Fireblocks.
- Microsoft's strong quarter backs up its stock rebound. Here's our new price target
Microsoft shares edged higher after the company reported better-than-expected results across all key metrics, with Azure growth accelerating. Revenue for the quarter ended in September rose about 19% year over year to $92.28 billion, above the LSEG consensus of $90.69 billion, while adjusted EPS of $4.92 rose 32%, beating the $4.73 consensus. Azure revenue grew 48% to $33.17 billion from $22.38 billion a year earlier, ahead of FactSet estimates of about 44% and 45%. Capital expenditures of $45.2 billion came in below the $51 billion analysts had forecast and the $50 billion projected by management, partly due to delays in third-party capacity deliveries. The stock has gained roughly 51% from its late-June low through Wednesday's close and was up about 3% after hours.
- MyVIB adds group funds, online payments and airport lounge sharing
VIB has added three features to its MyVIB app: group funds, Click to Pay, and online booking of airport lounge and Fast Track services. Group funds let users set up a fund for a specific purpose and invite up to 50 members via QR code, link or contacts, at no cost and with no balance limit; the fund owner can enable approval, in which case any one member's approval completes a payment. Click to Pay lets holders of VIB-issued Visa cards (except VIB LazCard) link a card once and pay on supported websites without re-entering card details. Cardholders of Travel Élite, Premier Boundless, One Card and IDC Platinum/Signature can book lounge and Fast Track access for themselves and up to 4 companions per month at no extra cost, across a network of more than 1,300 lounges.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.