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Daily Wrap

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2026-10-28

Fed holds rates as long yields climb, AI infrastructure names lead

Stock Heatmap
Size = market cap (square-root scaled within sectors) · Color = day's change · Click a sector name to zoom, a tile to open the stock
Zoom into Information TechnologyInformation TechnologyNVDA-1.2%AAPL-0.9%MSFT-0.1%AVGO+2.8%MU+5.9%AMD+3.2%INTC+1.9%PLTR-1.0%CSCO-1.0%ORCL+10.7%AMAT+5.1%PANW-1.8%LRCX+5.4%DELL-1.6%TXN+0.3%CRWD-0.5%IBM+1.2%ANET-0.1%MRVL+3.3%SHOP+1.4%KLAC+3.3%ADI+0.7%SNDK+7.7%CRM+0.5%APH+3.5%QCOM-0.7%NOW-3.0%STX+4.5%ACN+3.5%FTNT-5.9%WDC+4.1%GLW+3.9%DDOG-0.9%ADBE+0.6%CDNS-0.2%SNPS+1.6%INTULITEHPEMSITELNXPIMPWRMSTRKEYSCIENALABWDAYADSKTERCOHRZoom into Communication ServicesCommunication ServicesGOOGL+1.3%GOOG+1.6%META-1.2%NFLX-0.8%DIS-1.1%VZ-1.7%TMUS+0.8%TAPPCMCSALYVTTWONWSSKYDZoom into FinancialsFinancialsBRK.B-0.5%JPM+1.1%V-0.3%MA+0.1%BAC+0.3%MSGSZoom into IndustrialsIndustrialsSPCX-2.3%Zoom into Consumer DiscretionaryConsumer DiscretionaryAMZN+0.6%TSLA-0.8%HDMCDTJXSBUXLOWBKNGMARABNBMELIZoom into Health CareHealth CareLLY+0.5%JNJ+0.9%ABBVUNHMRKTMOAMGNGILDZoom into Consumer StaplesConsumer StaplesWMT-0.5%COSTKOZoom into EnergyEnergyXOM+1.2%CVXCOPZoom into UtilitiesUtilitiesZoom into Real EstateReal EstateZoom into MaterialsMaterials
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Market Summary

Market & SentimentAll four indexes finished higher, with the Nasdaq 100 up 0.6% and the Russell 2000 adding 0.4%. Breadth was flat at 249 advancers against 255 decliners, and only 56.9% of stocks sit above their 50-day average — a neutral 55 reading. The Fed held rates steady, and long-end yields rose, keeping the tape cautious despite the gains.

Sectors & StocksCommunication services (+0.78%) and tech (+0.55%) led; utilities (-0.88%) and real estate (-0.67%) lagged as long yields rose. Vertiv jumped 16.5% on doubled orders and raised guidance, Oracle rose 10.7% on investor-day targets, and Micron gained 5.9% as SK Hynix flagged a memory shortage into 2030. Boston Scientific fell 5.8% on a cyberattack-driven guidance cut; Fortinet lost 5.9%.

Rates, FX & CryptoThe curve steepened: the 10-year rose 6bp to 5.05% and the 30-year 7bp to 5.37%, while the 2-year slipped 3bp to 4.67% after the Fed hold, widening 2s10s to 38bp. EUR/USD fell 0.15% and USD/CNY was little changed. Bitcoin rose 0.55% to about $81,254 and ether added 0.41%.

Earnings & AnnouncementsVertiv's 61% sales growth and doubled organic orders drove its rally; Oracle guided fiscal 2030 revenue above $225 billion. Boston Scientific cut 2026 adjusted EPS on a cyberattack. Robinhood revenue rose 12% but EPS missed. FinDog moved Old Dominion from Bullish to Neutral and Smurfit Westrock from Neutral to Bearish. Apple unveiled its first touch-screen notebook.

What to Watch Next Trading Day
  • Microsoft, Amazon, Eli Lilly and Caterpillar earnings
  • Mastercard results and record-high stock
  • Long-end Treasury yields after the Fed hold
  • Oil reaction to Yemen and Iran war headlines
Top News
  1. Fed holds rates; Gundlach weighs in on pause
    The Fed kept rates steady, and DoubleLine's Gundlach discussed the pause and fewer vote-setting meetings. A steady policy path keeps focus on the long end, where yields rose.
    CNBC10-28 19:05 UTC
  2. Fed chair strikes tough tone on inflation
    The Fed chairman took a firm stance on inflation alongside the rate hold, reinforcing a higher-for-longer message that lifted long-dated Treasury yields.
    CNBC10-28 19:17 UTC
  3. Oil rises about 2% on Yemen supply fears
    Oil gained roughly 2% as fighting in Yemen stoked supply concerns, supporting energy shares and adding to inflation risk from fuel costs.
    Reuters10-28 01:49 UTC
  4. Pentagon pegs Iran war cost above $47 billion
    The Pentagon estimates US costs of the Iran war have topped $47 billion, a fiscal burden that adds to budget pressure as long yields climb.
    Reuters10-28 01:01 UTC
  5. US regulator proposes faster LNG permitting rules
    A US regulator proposed new rules to speed LNG project approvals, which could ease permitting timelines for energy infrastructure developers.
    Reuters10-28 13:11 UTC
  6. Unilever flags price hikes as war costs mount
    Unilever said it will raise prices as Iran-war costs accumulate, a sign of persistent cost pressure in consumer staples.
    Reuters10-28 10:14 UTC
  7. Airlines pull back fuel hedges, warn on fares
    Airlines are reducing fuel hedges and warning on fares as the Iran war drags on, pointing to margin pressure from energy costs.
    Reuters10-28 11:08 UTC
  8. South Korea fines Google, Apple over app payments
    South Korea's media commission fined Google and Apple over their app payment systems, a regulatory cost for both platforms in a key market.
    GOOGLAAPLReuters10-28 13:04 UTC
  9. Phillips 66 posts record quarterly profit
    Phillips 66 reported a record quarterly profit on refining strength, reflecting strong margins as oil prices rose.
    PSXReuters10-28 12:30 UTC
  10. StanChart lifts targets, profit tops estimates
    Standard Chartered raised full-year targets and beat profit estimates, sending its shares higher and signaling resilient banking trends.
    Reuters10-28 04:13 UTC

Stories are selected and summarized by AI from the day's news coverage. Click a headline to read the original. Not investment advice.

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