US Stocks Today: NASDAQ rises, AI chip stocks rebound, Dow Jones falls ahead of the Fed's decision
2026-10-28 23:08:41
According to CoinMeta, today's U.S. stock market opening performance was mixed: the Nasdaq rose by 0.24%, the S&P 500 index rose by 0.17%, while the Dow Jones Industrial Average declined before the Federal Reserve's interest rate decision. The Nasdaq Composite Index opened at 26,541.61 points, and the S&P 500 index rose to 7,735.56 points. The Dow Jones fell by 0.08%, or about 42 points, to 52,335.43 points. The rebound in tech stocks was mainly driven by artificial intelligence chip manufacturers, despite ongoing concerns in the market regarding AI infrastructure spending and borrowing costs. South Korean SK Hyundai Electronics reported a significant increase in quarterly earnings, which boosted market sentiment. The company's operating profit soared by 632% year-on-year to approximately 83.3 trillion Korean won, with revenue growing by 328% to 104.6 trillion Korean won, and it also announced a shareholder return plan worth about 75 billion US dollars. The market is also watching the quarterly financial reports of Microsoft and Google's parent company Alphabet, which are expected to provide more insights into cloud computing growth and AI infrastructure spending. The Federal Reserve will announce its latest policy decisions at 2 p.m. Eastern Time, and the market generally expects to maintain the benchmark interest rate in the range of 3.75%-4.00%.
Source:Coinpaper
This content is for market information only and does not constitute investment advice.
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