Investment Daily: US stocks rose with the Fed decision and key tech earnings in focus

29 October 2026

US stocks rose on Wednesday, as investors assessed the Fed rate decision and awaited more tech earnings. The S&P 500 gained 0.3%.

The US Treasury yield curve steepened slightly. 10-year yields rose 2bp to 5.02%, while 2-year yields fell 4bp to 4.70%.

European stocks edged higher on Wednesday ahead of key US tech earnings and the ECB’s policy decision. The Euro Stoxx 50 closed 0.1% higher. The German DAX rose 0.4%, while the French CAC ended flat. In the UK, the FTSE 100 gained 0.1%.

European government bonds were mixed. 10-year German bund yields rose 1bp to 3.37%, and 10-year French bond yields edged down 1bp to 4.91%. In the UK, 10-year gilt yields fell 3bp to 5.32%.

Asian stock markets mostly rose on Wednesday, led by tech shares. Korea’s Kospi rallied 6.6%, while Japan’s Nikkei 225 gained 1.1%. Elsewhere, China’s Shanghai Composite and Hong Kong’s Hang Seng rose 0.9% and 0.2%, respectively. Meanwhile, India’s Sensex closed 0.5% lower.

Crude oil prices rebounded on Wednesday. WTI for December delivery settled 2.9% higher at USD 102.8 a barrel.

In the US, the Federal Reserve held policy rates unchanged, as widely expected, and indicated that more information is needed to determine the policy stance appropriate for ensuring a timely return of inflation to the 2% goal.

India’s industrial production growth moderated to 6.7% yoy in September, from a downwardly revised 7.8% yoy in August.

In the US, Q3 GDP growth should pick up on strong investment and consumer spending, but some moderation seems likely in Q4. The PCE Price Index may point to a further rise in headline and core inflation (yoy).

The European Central Bank (ECB) is expected to keep interest rates on hold as the Governing Council awaits more hard data. Another 25bp rate hike is likely in December.