As traders worked on the floor of the New York Stock Exchange (NYSE) in New York on Wednesday, October 28, 2026, television stations broadcast the Federal Reserve’s decision to keep interest rates on hold after the Federal Open Market Committee (FOMC).
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of S&P500 It rose on Wednesday as investors reacted to the Federal Reserve’s latest interest rate decisions and awaited earnings reports from giant technology companies.
The broader market index rose 0.28% to end at 7,743.98. Nasdaq Composite It added 0.27% to close at 26,549.85. of Dow Jones Industrial Average It rose 97.53 points (0.19%) to 52,475.10. It was the third consecutive winning day for the S&P 500, NASDAQ, and Dow.
The Fed kept interest rates unchanged within its target rate range of 3.75% to 4%. Policymakers raised interest rates by a quarter of a percentage point at their September meeting, marking the first rate hike since 2023.
Traders had widely expected this move. Heading into Wednesday’s meeting, federal funds futures are pricing in a nearly 93% chance that the central bank will maintain current rates, according to CME’s FedWatch tool.
Chairman Kevin Warsh said at a press conference after the decision that the central bank remained focused on “price stability” despite the suspension and that the employment situation was “quite positive”.
“Nothing today precludes another 25 basis points hike by the end of the year,” said Jeff Schultz, chief investment strategist at the Franklin Templeton Institute. “The key issue for markets is the pace of tightening, and the committee appears content to ease last year’s rate cuts at a cautious pace that has historically been more favorable to risk assets.”
Increase technology-related revenue
software company stocks oracle It jumped nearly 11% after fiscal 2030 revenue guidance was given at $225 billion. This means an annual growth rate of 35%. The company also announced that it will limit additional funding to $20 billion from fiscal 2027 to fiscal 2030.
Chipmakers also rose on Wednesday after SK Hynix posted record quarterly profit. The development sent the South Korean chipmaker’s U.S. shares up 13%. micron technology rose almost 6%, but arm holdings 4% advanced. marvel technology 3% increase; advanced micro device Increased by 3%.
Like the giants of the ‘Magnificent Seven’, investors’ attention will remain on artificial intelligence trading after the bell alphabet and microsoft is scheduled to report its latest quarterly results. The former was last up over 1%, while the latter was down slightly on the day.
Tech stocks, particularly those with exposure to developments in AI, have struggled in recent weeks amid questions over technology financing.
“The near-term cycle remains incredibly healthy,” said Bill Northey, investment director at U.S. Bank Asset Management Group. “What really matters is can it remain durable over the years and what are the benefits to the people who are investing heavily today? Will it be a universally beneficial endeavor or will there start to be winners and losers out there? I tend to think we’re leaning towards the latter.”
