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Investment Daily: US stocks rose ahead of key earnings and the Fed decision

28 October 2026

Key takeaways

  • US stocks rose; Treasury yields edged higher.
  • European stocks mostly rose; government bonds mixed.
  • Asian stocks were mixed.

Markets

US stocks advanced on Tuesday amid lower oil prices, led by gains in tech shares. The S&P 500 rose 0.6%.

US Treasuries edged lower ahead of the Fed’s rate decision. 10-year yields closed 1bp higher at 5.00%.

European stocks traded mixed but mostly higher on Tuesday as oil prices declined. The Euro Stoxx 50 closed 0.8% higher. The German DAX rose 0.7%, while the French CAC was up 0.5%. In the UK, the FTSE 100 lost 0.8%.

European government bonds were mixed. 10-year German Bund yields fell 1bp to 3.36%, and 10-year French bond yields rose 2bp to 4.92%. In the UK, 10-year gilt yields fell 1bp to 5.35%.

Asian stock markets lacked clear direction on Tuesday. Korea’s Kospi rallied 3.1% led by semiconductor stocks, while Japan’s Nikkei 225 gained 1.7%. Elsewhere, Hong Kong’s Hang Seng and China’s Shanghai Composite fell 0.7% and 1.3% respectively. India’s Sensex closed flat.

Crude oil prices fell further on Tuesday. WTI for December delivery settled 1.8% lower at USD99.9 a barrel. 

Key Data Releases and Events

Releases yesterday

In the US, the Conference Board consumer confidence index unexpectedly rose to 91.7 in October, from an upwardly revised 84.2 in September, amid easing retail gasoline prices, despite ongoing frustration with the rise in the cost of living.

Releases due today (28 October 2026)

In the US, recent Federal Reserve officials’ comments suggest that consecutive rate hikes are unlikely despite firmer core CPI and PPI readings.

India’s industrial activity has been supported by strong export growth, firm domestic capex, improving corporate earnings, and pre-festival demand.

Although UK growth has been resilient, higher debt interest is likely to lower the Chancellor's fiscal headroom in the UK Autumn Budget.

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