The S&P 500 index recorded its third consecutive daily increase on October 28, 2026, rising by 0.28% to close at 7,743.98. The Nasdaq Composite gained 0.27% to reach 26,549.85, while the Dow Jones Industrial Average added 0.19% to finish at 52,475.10.
The Federal Open Market Committee voted 10-2 to maintain the federal funds rate within the 3.75% to 4.00% range. Policymakers Lisa Cook and Beth Hammack dissented, advocating for a 25-basis-point increase.
Following the decision, market participants priced in an 85% probability of a rate hike at the December meeting. The yield on the 10-year Treasury note rose above 5% in response to the announcement.
The Federal Reserve updated its economic outlook, describing the expansion as strong rather than solid, while noting that inflation remains elevated. Technology and energy sectors led the market gains.
Investors are now focused on upcoming earnings reports from Alphabet and Microsoft, which are expected to influence major indices. These results will serve as a test for the technology sector's market leadership.
