{ "id": 16960093, "title": "Wall Street ends higher as Fed holds key rate steady, focus turns to earnings", "url": "https://urgent.news/2026/10/28/wall-street-ends-higher-as-fed-holds-key-rate-steady-focus-turns-to", "topic": "finance", "section": "Finance & Markets", "published": "2026-10-28T20:45:40.000Z", "source": { "name": "Straits Times Business", "slug": "straits-times-business", "url": "https://www.straitstimes.com/business/companies-markets/wall-street-ends-higher-as-fed-holds-key-rate-steady-focus-turns-to-earnings" }, "original_language": "en", "account": "On October 28, US stock indexes climbed following the Federal Reserve's decision to keep its key policy rate unchanged, as anticipated. The Fed upgraded its economic outlook, acknowledging that inflation remained \"elevated.\" Fed Chair Kevin Warsh reaffirmed the central bank's readiness to act, stating, \"The Fed didn't throw any curveballs.\" Major US stock indexes - the Dow Jones, S&P 500, and Nasdaq Composite - all finished the session higher after oscillating throughout Chair Warsh's press conference. Market participants are now pricing in an 85% chance of a 25-basis-point rate hike at the Fed's December meeting, up from 78.3% on October 27, as per CME's FedWatch tool. Third-quarter earnings season is underway, with 84% of S&P 500 companies surpassing analyst estimates, leading to a projected 31.8% year-on-year growth in third-quarter earnings, up from 30.6% in early October. Micron Technology surged 5.9% on the news, while SK Hynix shares jumped 13.3% after reporting a more than sevenfold increase in quarterly profits. The Philadelphia Semiconductor index gained 1.8%, marking its fourth consecutive daily advance. Microsoft rose over 4% after reporting strong quarterly results, while Alphabet shares fell more than 7% after its earnings report. The Dow Jones Industrial Average increased by 97.53 points (0.19%) to 52,475.10, the S&P 500 rose by 21.37 points (0.28%) to 7,743.97, and the Nasdaq Composite gained 72.04 points (0.27%) to 26,549.85. US crude prices climbed following an attack by Iran-backed Houthis on a Saudi Arabian refinery, heightening supply concerns. Oil prices have since surged above $100 per barrel, affecting other economic areas and contributing to inflation. Robinhood shares fell 3.3% after weak cryptocurrency performance cut third-quarter profits short of analyst expectations. Vertiv surged 16.5% after beating earnings forecasts and raising full-year profit and revenue projections. Boston Scientific declined 5.8% after cutting its annual profit forecast. Advancing issues exceeded decliners by a 1.05-to-1 ratio on the NYSE, with 110 new highs and 214 new lows. On the Nasdaq, 2,849 stocks rose and 1,926 fell, with 1.48 advancing issues for every decliner. The S&P 500 set 19 new 52-week highs and 14 new lows, while the Nasdaq Composite recorded 75 new highs and 198 new lows.", "summary": "The Dow Jones Industrial Average rose 97.53 points, or 0.19%, to 52,475.10.", "key_points": [], "editors_take": null, "illustration": "https://urgent.news/ill/16960093.png", "coverage": { "outlets": 11, "also_reported_by": [ { "outlet": "The Hill", "title": "Watch live: Warsh speaks after Fed votes to keep interest rates steady", "url": "https://urgent.news/2026/10/28/watch-live-warsh-speaks-after-fed-votes-to-keep-interest-rates-steady", "published": "2026-10-28T18:11:32.000Z" }, { "outlet": "The Sydney Morning Herald", "title": "Fed keeps rates on hold; ASX set to rise, Wall Street steady", "url": "https://urgent.news/2026/10/28/fed-keeps-rates-on-hold-asx-set-to-rise-wall-street-steady", "published": "2026-10-28T18:16:37.000Z" }, { "outlet": "The Age", "title": "Fed keeps rates on hold; ASX set to rise, Wall Street steady", "url": "https://urgent.news/2026/10/28/fed-keeps-rates-on-hold-asx-set-to-rise-wall-street-steady-16939355", "published": "2026-10-28T18:16:37.000Z" }, { "outlet": "Quartz", "title": "The Fed holds interest rates steady in a split vote before midterm elections", "url": "https://urgent.news/2026/10/28/the-fed-holds-interest-rates-steady-in-a-split-vote-before-midterm", "published": "2026-10-28T18:30:32.000Z" }, { "outlet": "Semafor", "title": "Fed holds rates steady despite dissents", "url": "https://urgent.news/2026/10/28/fed-holds-rates-steady-despite-dissents", "published": "2026-10-28T19:50:15.000Z" }, { "outlet": "MarketWatch", "title": "Why did the Fed hold off on raising interest rates? Warsh says it’s because an ‘information rich’ period is coming.", "url": "https://urgent.news/2026/10/28/why-did-the-fed-hold-off-on-raising-interest-rates-warsh-says-its", "published": "2026-10-28T19:56:00.000Z" }, { "outlet": "RTHK News - Finance", "title": "US stocks eye big tech earnings as Fed holds rates", "url": "https://urgent.news/2026/10/28/us-stocks-eye-big-tech-earnings-as-fed-holds-rates", "published": "2026-10-28T21:18:12.000Z" }, { "outlet": "Free Malaysia Today", "title": "US Fed holds interest rates steady despite ‘too high’ inflation", "url": "https://urgent.news/2026/10/28/us-fed-holds-interest-rates-steady-despite-too-high-inflation", "published": "2026-10-28T21:45:00.000Z" }, { "outlet": "Channel News Asia", "title": "US stocks eye big tech earnings as Fed holds rates steady", "url": "https://urgent.news/2026/10/28/us-stocks-eye-big-tech-earnings-as-fed-holds-rates-steady", "published": "2026-10-28T21:52:42.000Z" }, { "outlet": "The Business Times - Companies & Markets", "title": "Wall Street ends higher as Fed holds key rate steady, focus turns to earnings", "url": "https://urgent.news/2026/10/28/wall-street-ends-higher-as-fed-holds-key-rate-steady-focus-turns-to-16971183", "published": "2026-10-28T22:07:20.000Z" } ] }, "ai_generated": true, "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original." }