Analysis

The Federal Reserve held rates steady as expected, driving a strong rebound in crypto assets, with Bitcoin returning to $81,000.

TradingKey - On October 28, Eastern Time, the three major US stock indexes all closed slightly higher. The Federal Reserve announced it would keep interest rates unchanged, but two members supported a rate hike, with inflation remaining the key focus of policy discussions. After the market close, Mi

Japanese and South Korean markets slowed their rally after a sharp surge, with the KOSPI holding steady at the 6,000-point mark, Kioxia surging over 5%, and SK Hynix surpassing 1.5 million won.

On October 28 Eastern Time, major U.S. stock indices rose modestly as investors assessed the Federal Reserve's decision to hold interest rates steady and awaited earnings reports from Google and Microsoft. At the close, the Dow Jones Industrial Average rose 0.19% to 52,475.10 points; the Nasdaq Composite Index gained 0.27% to 26,549.85 points; and the S&P 500 Index climbed 0.28% to 7,743.98 points.

On October 28, Google parent company Alphabet (GOOGL) (GOOG) reported its third-quarter 2026 financial results, with Google Cloud revenue doubling to drive a 25% increase in group revenue and a 30% rise in operating profit. However, total revenue fell slightly short of market expectations, losses on securities investments dragged down net profit, and expanding capital expenditures led to a second consecutive quarter of negative free cash flow.

Following the Federal Reserve's decision to keep interest rates unchanged, Chair Kevin Warsh delivered post-meeting remarks. As of press time, the US Dollar Index fell over 30 points, spot gold rose by $20, US stock futures edged higher, and the Philadelphia Semiconductor Index posted relatively strong gains. Overall, asset prices recovered somewhat following Warsh's speech, but the interest rate market has yet to noticeably reduce expectations for another rate hike later this year.

Oracle (ORCL) shares surged over 13% in short-term trading. Reportedly, the company announced Wednesday at its Investor Day in Las Vegas that it expects to turn free cash flow positive in the second half of fiscal year 2028, reach at least $30 billion in free cash flow in fiscal year 2029, and cap additional financing at $20 billion through fiscal year 2030.

On October 28, Eastern Time, the Federal Reserve voted 10 to 2 to maintain the target range for the federal funds rate at 3.75%–4%, in line with broad pre-meeting market expectations. Following September's rate hike, the key question surrounding this pause is whether the Fed is waiting to assess policy effects or believes that the need for further monetary tightening has diminished.

On October 28, Eastern Time, SK Hynix (SKHY) shares surged 12% following the release of its third-quarter financial results. Record revenue and operating profit, coupled with a shareholder return plan that exceeded market expectations, prompted investors to reassess the company's earnings growth and cash return capabilities.

On October 28 (Eastern Time), SpaceX (SPCX) fell over 4% in early trading, hitting its lowest level in nearly two weeks. Reportedly, SPCX's $100 billion development project in Louisiana faces a legal challenge. According to the Associated Press, local residents and a non-profit organization have sued the local government, alleging that officials violated open-meeting rules when negotiating tax incentives for the project.

TradingKey - SanDisk (SNDK) will release its first-quarter fiscal 2027 earnings report after the U.S. market close on October 29, Eastern Time. The company previously issued official guidance projecting revenue between $10.3 billion and $10.8 billion, with adjusted earnings per share of $44 to $46.

TradingKey - As of press time on October 28 Eastern Time, data center infrastructure provider Vertiv (VRT) rose 15.62% in pre-market trading to $241.14.

TradingKey - Boeing stock forecast: BA falls 10.69% to a 52-week low after its 737 ramp slips to 2027, breaking $183.86 support as sellers eye $160.35 on the chart.

TradingKey - In pre-market trading on October 28, Eastern Time, the three major US stock index futures diverged. As of press time, Dow futures fell by about 0.21%, S&P 500 futures edged up 0.12%, and Nasdaq 100 futures rose by approximately 0.35%.

TradingKey - Shares of Google parent company Alphabet (GOOGL) rose over 1% in pre-market trading. The market is focusing on news that OpenAI may purchase Google's AI chips while also awaiting Alphabet's upcoming third-quarter earnings report.

TradingKey - Tesla stock forecast: TSLA breaks out of a triangle above $388.85 as Cybercabs overtake Model Ys in Texas, with $411.90 the next hurdle on the 4-hour chart.

TradingKey - Micron stock forecast after record Q4 revenue, AI-driven HBM4 demand and strong 2027 guidance. Explore MU support at $906 and resistance near $977.

TradingKey - US memory stocks generally rallied in pre-market trading on Wednesday, with SK Hynix (SKHY) rising as much as 8%, SanDisk (SNDK) and Micron Technology (MU) both gaining over 4%, Silicon Motion (SIMO) up nearly 4%, and Western Digital (WDC) advancing about 1%.

TradingKey - In pre-market trading on October 28 ET, as of press time, Micron Technology (MU) rose 3.8% to $964.02.

TradingKey - SoFi stock surged 13% after Q3 earnings. Explore the latest SOFI stock forecast, 2027 guidance, valuation, key support at $16.17, and resistance at $16.75.