Wall Street opened mixed on Wednesday, October 28, 2026, with the S&P 500 and Nasdaq Composite advancing as semiconductor stocks rallied following strong quarterly results from South Korean memory-chip manufacturer SK Hynix. The Dow Jones Industrial Average opened slightly lower as investors prepared for the Federal Reserve’s interest rate decision and major technology earnings.
Artificial intelligence remained a central market theme, with renewed demand for memory-chip and semiconductor shares supporting the technology sector. Investors were also monitoring Treasury yields, energy prices and corporate earnings ahead of the Federal Reserve’s policy announcement later in the session.
S&P 500, Nasdaq and Dow Jones: October 28 Opening Levels
The three major US stock benchmarks recorded different performances at Wednesday’s opening bell, reflecting stronger demand for technology shares than for the broader market.
| US index | Opening level | Opening change |
|---|---|---|
| S&P 500 | 7,735.56 | +0.17% |
| Nasdaq Composite | 26,541.61 | +0.24% |
| Dow Jones Industrial Average | 52,335.43 | -0.08% |
Regular-session opening quotations, Wednesday, October 28, 2026, at approximately 9:30 a.m. Eastern Daylight Time (EDT).
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The S&P 500 gained approximately 13 points at the open, while the Nasdaq advanced 63.8 points. The Dow declined 42.1 points.
The divergence showed how semiconductor stocks were supporting the Nasdaq even as other areas of the market traded more cautiously. Investors entered Wednesday after the S&P 500 and Nasdaq had advanced for two consecutive sessions, supported by renewed enthusiasm for artificial intelligence and technology-related businesses.
SK Hynix Earnings Strengthen Semiconductor Sentiment
Semiconductor companies attracted attention after SK Hynix reported a sharp increase in quarterly profit, supported by demand for advanced memory products used in artificial intelligence systems.
The company’s quarterly profit increased more than sevenfold, highlighting the growing demand for high-performance memory used alongside advanced AI processors.
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SK Hynix’s US-listed shares gained approximately 8% in early trading, while Micron Technology advanced around 4%. Arm Holdings rose approximately 2%, and Intel, Advanced Micro Devices and Marvell Technology also recorded gains.
The positive reaction reflected the importance of memory capacity, networking technology and specialized chips in expanding artificial intelligence infrastructure.
SK Hynix also indicated that production capacity for several memory products was heavily committed over the coming years, reinforcing expectations of sustained demand from data centers and AI computing providers.
Microsoft and Alphabet Earnings in Focus
Microsoft and Alphabet are scheduled to announce quarterly financial results after the US stock market closes on Wednesday, October 28.
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The two companies are important participants in the global cloud computing and artificial intelligence industries. Their earnings will provide further information about enterprise technology spending, cloud demand and the financial impact of AI infrastructure investment.
Microsoft’s results will draw attention to Azure cloud services, enterprise software and capital expenditure. Alphabet’s announcement will provide insight into Google Cloud, advertising operations and investment in AI-related technology.
The reports arrive during a period of heightened scrutiny of spending on computing infrastructure. Investors are examining the relationship between capital expenditure, revenue growth and profitability as technology companies continue expanding AI capacity.
Federal Reserve Interest Rate Decision Due Today
The Federal Reserve is scheduled to announce its monetary policy decision at 2:00 p.m. EDT on Wednesday, October 28, followed by a press conference at 2:30 p.m. EDT.
The central bank’s policy meeting began on Tuesday, October 27. Market expectations favor keeping the federal funds target range unchanged at 3.75%–4.00%, following September’s quarter-percentage-point increase.
Investors will examine the policy statement and comments from Federal Reserve Chair Kevin Warsh for indications of how policymakers are assessing inflation, economic growth and future interest rate decisions.
Treasury yields have also attracted attention ahead of the announcement, with the benchmark 10-year yield moving above 5%. Higher yields can influence borrowing costs and equity valuations, particularly for companies with substantial long-term investment commitments.
Visa, Robinhood and Other Earnings Reactions
Corporate earnings influenced individual stocks before Wednesday’s opening bell.
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Robinhood Markets shares declined approximately 8% in premarket trading after the financial services company reported quarterly results that fell short of profit expectations.
Visa shares slipped approximately 1.7% in premarket trading following its fiscal fourth-quarter earnings announcement.
Seagate Technology also declined after reporting its fiscal first-quarter results, contrasting with gains in several other semiconductor and data-storage companies.
The different reactions highlighted how company-specific financial performance continued to influence share prices alongside the broader market’s focus on artificial intelligence.
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Wall Street Opening Summary
US stocks began October 28 with the Nasdaq and S&P 500 advancing while the Dow Jones opened modestly lower.
The S&P 500 opened at 7,735.56, up 0.17%, while the Nasdaq Composite rose 0.24% to 26,541.61. The Dow declined 0.08% to 52,335.43.
Strong results from SK Hynix supported semiconductor shares, while investors awaited the Federal Reserve’s interest rate decision and quarterly earnings from Microsoft and Alphabet.
The combination of monetary policy developments, AI infrastructure spending and major corporate results remained central to Wednesday’s US trading session.
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Disclaimer
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