Tech Stocks Move Higher Ahead of Fed Rate Decision

A facts-only brief, written by a local AI model from this article in The Wall Street Journal, October 28, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.

The Nasdaq advanced on Wednesday as chipmakers led gains following strong earnings from SK Hynix, which reported that capacity for specific memory products is nearly sold out for the next three years. The Federal Reserve is scheduled to announce its interest-rate decision at 2 p.m., with markets broadly expecting rates to remain unchanged despite persistent inflationary pressures. Benchmark Treasury yields rose above 5% in anticipation of the announcement, prompting investors to watch Chairman Kevin Warsh’s subsequent press conference for guidance on future policy moves.

Background

• Alphabet and Microsoft are set to release their earnings reports after the market close on Wednesday.
• The Nasdaq has climbed nearly 2% since Anthropic submitted its initial public offering paperwork on Monday.
• Oil prices increased overnight after reports indicated the Trump administration advised several Gulf nations to prepare for a potential short military campaign against Iran following the U.S. midterm elections.

Read the full article at wsj.com

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