US stocks traded in a narrow range on October 28, 2026, as gains in semiconductor shares accompanied SK hynix’s quarterly results while some large technology stocks fell. The Federal Reserve’s interest-rate decision was still ahead at the time of the morning market snapshot.

Key Takeaways

  • The Dow and S&P 500 were slightly higher at 10:01 a.m. ET, while the Nasdaq edged lower.
  • Micron shares rose 4.8% following SK hynix’s results; the Fed later held its policy rate steady.

US stocks show modest moves

At 10:01 a.m. ET, the Dow Jones Industrial Average was up 73.40 points, or 0.14%, at 52,450.97. The S&P 500 gained 0.09% to 7,729.20, while the Nasdaq Composite slipped 0.03% to 26,470.68.

The Philadelphia semiconductor index rose 0.9%, putting it on course for a fourth consecutive session of gains if the advance held. Elsewhere in technology, Tesla fell 1.9% and Apple slipped 0.6%, while Alphabet rose 1.2%.

Chip shares rise after SK hynix results

Micron Technology rose 4.8% to its highest level in more than two weeks. The gains followed the release of SK hynix’s preliminary third-quarter results, although the price moves alone do not establish their cause.

In those results, SK hynix reported operating profit of 83.3338 trillion won and revenue of 104.6155 trillion won. The company said operating profit rose 632% from a year earlier. The figures were preliminary and subject to change during the independent audit.

Fed decision came after the market snapshot

At 10:01 a.m., investors were awaiting the Fed’s policy announcement and quarterly results from Microsoft and Alphabet, which were scheduled for after the closing bell.

The Fed subsequently announced at 2 p.m. ET that it had maintained its target range for the federal funds rate at 3.75% to 4%. The morning index figures therefore do not reflect trading after that decision.

Read More News

More FinanceVelix news

Disclaimer

This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.