Wall Street closes higher: S&P 500 up 0.28% at 7744.2, Nasdaq 100 up 0.55%
US stocks ended Wednesday higher as the Fed held its rate at 4%, against a 4% estimate. The 10-year Treasury yield stood at 5.044% and the dollar index was lower.
- 01S&P 500 closed at 7744.2, up 0.28% from 7722.6 the previous session.
- 02Nasdaq 100 ended at 29813.16, up 0.55% from 29651.44.
- 03The Fed held its interest rate at 4%, against a 4% estimate and a 4% previous reading.
- 04The 10-year Treasury yield stood at 5.044%, up 5 bp from 4.994%.
The S&P 500 closed at 7744.2 on Wednesday, up 21.6 points or 0.28% from 7722.6 the previous session. The Nasdaq 100 ended at 29813.16, up 161.72 points or 0.55%.
What happened
US equities finished higher on October 28, 2026, in a session dominated by the Federal Reserve. The S&P 500 was at 7744.2 at 15:59 New York time. The Nasdaq 100 stood at 29813.16 at the 16:00 close, from 29651.44 the day before.
The Fed interest rate decision was released at 18:00 UTC. The rate was 4%, against a 4% estimate and a 4% previous reading. The FOMC statement was scheduled for the same time, and the press conference was set for 18:30 UTC.
In bond markets, the 10-year Treasury yield stood at 5.044% at 18:59 UTC. That compares with 4.994% at the previous close, a rise of 5 bp.
The US Dollar Index stood at 101.9700 at 20:45 UTC, down 0.3490 or 0.34% from 102.3190. Gold futures were little changed at 4076.6, up 2 or 0.05% from 4074.6, as of 20:35 UTC.
Why it matters
The Fed decision is one of the main scheduled events for global markets. It guides the cost of borrowing for households and companies. Investors read the statement and the press conference for clues on the policy path.
The 10-year yield is a benchmark for mortgage rates and corporate financing. A yield at 5.044% sits above the 4% policy rate shown in the calendar. The dollar index fell 0.34% on the day, which matters for multinational companies that earn revenue abroad.
Corporate results also reached the market before the opening bell. Five large US companies reported third-quarter figures.
Amphenol reported earnings per share of 0.8 USD against an estimate of 0.73 USD. Its revenue was 10.23 billion USD against an estimate of 9.49 billion USD.
Biogen posted earnings per share of 2.62 USD against an estimate of 1.99 USD. Its revenue was 2.8 billion USD against an estimate of 2.63 billion USD.
American Electric Power reported earnings per share of 2.23 USD against an estimate of 2.05 USD. Revenue was 6.83 billion USD against an estimate of 6.55 billion USD.
Automatic Data Processing reported earnings per share of 2.82 USD against an estimate of 2.77 USD. Revenue was 5.49 billion USD against an estimate of 5.48 billion USD.
Aon reported earnings per share of 3.36 USD against an estimate of 3.3 USD. Revenue was 4.1 billion USD against an estimate of 4.08 billion USD.
What to watch next
Attention turns to how markets digest the FOMC statement and the remarks at the press conference. Neither the statement text nor the press conference content was available in the data at the time of writing.
The 10-year Treasury yield and the dollar index will show how bond and currency markets react in later sessions. Both were intraday levels at the time of writing and can still change.
Investors will also follow further company reports in the coming days, as the earnings season continues. The next session on the New York Stock Exchange opens at 09:30 New York time.
Sources:UCapital Markets (ucapital.com)
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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