Stock Market Today, Oct. 28: Markets Edge Higher as Fed Holds Rates Steady
Cloud and AI infrastructure demand remains robust despite tech spending concerns, today, Oct. 28, 2026.
On October 28, the U.S. stock market experienced a slight upward trend despite the Federal Reserve's decision to maintain interest rates. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all ended in the green. The S&P 500 rose 0.28% to 7,744, the Nasdaq Composite gained 0.27% to 26,550, and the Dow Jones added 0.19% to 52,475. Gold prices increased by 0.10% to $4,068.14, and the 10-Year Treasury yield rose by 0.02% to 5.02%.
Energy stocks were the top performers, while real estate and utilities sectors faced declines. Vertiv Holdings Co experienced a significant gain of nearly 17% due to positive forecasts for long-term artificial intelligence infrastructure demand. Oracle Corporation surged 11% after presenting new financial targets during an investor day. Wingstop Inc. also saw a rise after reporting better-than-expected third-quarter earnings, while F5, Inc. declined over 20% following an analyst downgrade.
The Federal Reserve maintained its interest rate at the expected level, with Chair Kevin Warsh emphasizing the committee's commitment to reducing inflation. Further data would influence interest rate decisions at the next meeting in December. The 10-year Treasury yield surpassed the 5% threshold as investors assessed the impact of the decision.
In addition to the market data, Alphabet Inc. and Microsoft Corporation reported their quarterly earnings. Microsoft exceeded expectations, particularly in its Azure cloud computing division, while Alphabet's shares fell after-hours trading as its revenue and sales fell short of analysts' predictions. The tech sector is expected to experience volatility due to Alphabet's results, raising questions about the sustainability of heavy AI capital expenditure spending.
Despite the overall market performance, investors are scrutinizing megatech firms based on their individual results and revenue-generation potential. The Motley Fool suggests investors consider using their premium services to make informed investment decisions.
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