The seal of the Federal Reserve Board stands at the podium prior to a press conference after the Federal Open Market Committee (FOMC) on Wednesday, July 29, 2026 in Washington, DC, USA.
Al Drago | Bloomberg | Getty Images
Hello, my name is Justina Lee from Singapore. Welcome to another edition of CNBC’s Daily Open.
Minutes of the meeting released Wednesday showed Fed officials expect interest rates to rise by the end of the year, but the meeting summary did not specify when exactly that would happen.
Yields fell below all-time highs after the U.S. Treasury sold $39 billion worth of 10-year bonds in an auction, and the S&P also rebounded from record highs on Wednesday.
South Korean tech giant Samsung’s third-quarter preliminary operating profit exceeded 100 trillion won for the first time in its history, while Lululemon poached Athleta CEO Maggie Geiger.
What you need to know today
Traders are bracing for more rate hikes this year from the Federal Reserve after minutes released Wednesday showed Fed officials plan to raise rates by the end of the year to stave off inflation that has been above target for more than five years.
However, the meeting summary did not indicate when rates would be raised, only that a stable labor market and sustained price increases would likely lead to a second rate hike this year. Interest rates will be set by the Fed on October 28th and then again on December 9th.
Meanwhile, U.S. Treasury yields retreated from their all-time high after the U.S. Treasury sold $39 billion of 10-year bonds in an auction. BMO said sales were “strong” with above-average bids from non-dealers.
The yield on the benchmark 10-year Treasury note hit 5.365% on Wednesday, its highest level since April 2002. The yield on 30-year bonds also hit 5.732%, the highest level since May 2002.
on the other hand, S&P It has also fallen from Wednesday’s all-time high. The Dow Jones Industrial Average fell 0.66%, and the S&P 500 fell 0.22%. The Nasdaq Composite fell 0.22%.
In Asia, Japan’s Nikkei Stock Average ended 0.92% lower. South Korea’s Kospi fell nearly 2%, while Australia’s benchmark S&P/ASX 200 ended flat. Mainland Chinese markets remained closed on Wednesday due to the Golden Week holiday.
Meanwhile, South Korea’s high-tech sector is once again in the spotlight after Samsung Electronics recorded a preliminary operating profit of 107.4 trillion won ($80.2 billion) in the third quarter. This is the first time in history that the company’s sales exceeded 100 trillion won, driven by the rapidly increasing demand for AI. Samsung is expected to release its full third-quarter financial results, including a breakdown by business unit, at the end of this month.
In the consumer sector, Lululemon announced Wednesday that Athleta CEO Maggie Gauger will join the company as president and chief product officer, effective later this month. The news comes as competition in the athleisure sector intensifies.
Concerns over supply disruptions eased slightly in oil markets after International Energy Agency member countries agreed to prioritize the release of diesel stocks to combat rising fuel prices.
—Justina Lee
And finally…
Trump says he doesn’t think Russia’s plague case is a biological weapon, says Putin plans to call on Wednesday
President Donald Trump said Wednesday that the United States does not believe the death of a Russian laboratory worker from suspected plague was the result of a biological weapon.
Trump also said he planned to call Russian President Vladimir Putin, who celebrated his 74th birthday on Wednesday, later in the day. President Trump previously said the call would focus on plague-related cases.
President Trump’s comments were made at an Oval Office event promoting the Trump Account, a new tax-deferred savings and investment account in which more than 60 million American children under the age of 18 are automatically enrolled.
— Dan Mangan
