S&P 500 heads into Wednesday before Fed decision, 46 points higher
Published on 10/28/2026 at 13:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAI momentum lifts the index
- The S&P 500 finished October 27 at 7,723 points, up 46 points or 0.6 percent.
- Broadcom rose 4.0 percent after a USD 63 billion Anthropic financing deal.
- Pentair led the S&P 500 with a 12.8 percent gain.
- The Fed decision is due October 28 at 2:00 p.m. ET.
The S&P 500 heads into Wednesday at 7,723 points after gaining 46 points, or 0.6 percent, on October 27, according to Reuters. Chip stocks led the advance as investors prepared for the Federal Reserve's rate decision.
Broadcom rose 4.0 percent after banks announced USD 63 billion in financing for Anthropic's purchase of its artificial-intelligence technology, CNBC reported. S&P 500 futures stood at 7,768 points, up 0.1 percent at 6:01 a.m. ET on October 28, according to Barron's.
Why is the S&P 500 higher before the Fed decision?
The benchmark gained despite declining breadth. Technology shares provided the main lift, while oil prices and rate uncertainty kept gains concentrated in large AI-linked companies. The Federal Reserve is expected to hold its target range at 3.75 percent to 4.00 percent.
Winners and losers in the S&P 500
Tuesday's largest moves came from the same S&P 500 session, with percentages compiled by Market Wrap:
- Pentair up 12.8 percent
- Flex up 8.3 percent
- Xylem down 14.2 percent after cutting its full-year profit and revenue guidance
- Boeing down 10.7 percent after its quarterly loss exceeded expectations
S&P 500 cues before the open
The index closed at 7,723 points after rising 46 points from a previous close of 7,677 points. The session's advance came as Broadcom and other chipmakers rallied, even though declining stocks outnumbered advancing stocks.
What comes next for the S&P 500
- October 28, 2026, 2:00 p.m. ET: The Federal Open Market Committee announces its rate decision, with a hold at 3.75 percent to 4.00 percent expected, Yahoo Finance reports.
- October 28, 2026, 2:30 p.m. ET: Federal Reserve Chair Kevin Warsh holds the post-decision press conference, according to Barron's.
S&P 500 price data for October 27, 2026
The S&P 500 closed at 7,723 points on October 27, 2026, up 46 points or 0.6 percent versus the previous close of 7,677 points, according to Reuters.
S&P 500 by the numbers on October 27, 2026
- Index: S&P 500
- Home exchange: New York Stock Exchange, United States
- Close on October 27, 2026: 7,723 points
- Change versus previous close of October 26, 2026: up 46 points (up 0.6 percent)
- Previous close: 7,677 points
- Top gainer: Pentair up 12.8 percent
- Top loser: Xylem down 14.2 percent
- Next scheduled event: October 28, 2026, 2:00 p.m. ET: Federal Reserve rate decision
