Wall Street: stocks edge higher in Wednesday trading as chip shares rise; Fed decision and Big Tech results due
As of 17:53 GMT, with the session still under way, the Dow was up 0.27%, the S&P 500 up 0.20% and the Nasdaq Composite up 0.02%. Micron rose after SK Hynix's record results, Vertiv jumped about 14% and Enphase fell about 17%.
US stocks were slightly higher on Wednesday 28 October as gains in chipmakers offset falls in some of the largest technology companies, ahead of the Federal Reserve’s interest rate decision and quarterly results from Microsoft and Alphabet. The session closes at 20:00 GMT and was still under way at the time of writing.
As of 17:53 GMT, the Dow Jones Industrial Average was up 0.27% at 52,519.71, the S&P 500 was up 0.20% at 7,738.25 and the Nasdaq Composite was up 0.02% at 26,482.74, according to Yahoo Finance data. The Philadelphia Semiconductor Index was up 0.95%.
Reuters reported that chipmakers rose after South Korean rival SK Hynix reported record quarterly results. As of 17:53 GMT, Micron was up about 4.4% and Tesla down about 1.2%, according to Yahoo Finance data. Vertiv was up about 14% after the data centre equipment maker raised its full-year forecast, saying it now expects 2026 sales of $14.45 billion to $14.85 billion. Enphase Energy was down about 17% after reporting lower revenue, CNBC reported, and Boston Scientific was down about 4% after trimming its annual profit forecast, according to Reuters and Yahoo Finance data.
The Fed’s decision is due at 18:00 GMT. Microsoft and Alphabet report after the US close.
See also: Tuesday’s session and this week’s Big Tech results schedule.
Sources
- Wall St treads water as chips rise, megacaps fall ahead of Fed, Big Tech earnings · Reuters (via Financial Newsletter)
- Stocks making the biggest moves premarket: ULBI, SLHY, HOOD, ENPH · CNBC
- Vertiv Reports Strong Third Quarter 2026 ... Raises Full Year 2026 Guidance Across All Key Metrics · Vertiv (PR Newswire)
- S&P 500, Dow Jones and Nasdaq Composite quotes · Yahoo Finance
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