- The close scored Choppy: S&P proxy +0.57%, Nasdaq proxy +1.27%, Dow proxy +0.06%, small caps +1.15%, vol proxy −0.98%, long Treasuries −0.05%, the dollar +0.33%, crude −1.41%, gold +1.15% and Bitcoin about +1.2%.
- The gain was narrow: the chip ETF rose 2.99% with AMD up 5.49% and Broadcom 4.04%, and Tesla added 4.04%, but the equal-weight S&P rose only 0.09%. Boeing fell 10.70% on a wider loss and a cut delivery outlook, and energy was the worst group at −2.02%.
- After hours, chip beats are being sold: NXP is down about 7.9%, Seagate about 5.9% and Teradyne about 5.3%. Wednesday brings the Fed decision at 2:00 PM ET, with GE Vernova and Amphenol before the open and Microsoft, Alphabet and KLA after the close.
Key numbers
Tuesday, October 27 split in two. Chip stocks extended Monday's rebound: the chip ETF rose about 3.0%, with AMD up about 5.5% and Broadcom about 4.0%, and the Nasdaq proxy gained about 1.3%. But Boeing fell about 10.7% after its report, and because the Dow weights stocks by price, that one drop held the Dow proxy to about +0.1%. The S&P proxy rose about 0.6%, and the gap between the Nasdaq and the Dow scores the close Choppy.
Underneath, the equal-weight S&P rose only about 0.1%, though small caps gained about 1.2%. Tech led the groups at about +1.7%, then discretionary at about +1.0% as Tesla rose about 4.0%. Energy was worst at about −2.0%, staples fell about 0.9% and real estate about 0.8%. Crude fell about 1.4% and futures settled below $100 even after the morning's attack near a Saudi oil hub. The vol proxy slipped about 1.0% and gold rose about 1.2%.
Boeing's street-reported core loss was 34 cents a share against the calendar's 21-cent estimate, and it cut its 2026 delivery outlook as engine shortages slow production. UPS rose about 5.8% and Coca-Cola fell about 1.6% after their reports. After the close, beats are not enough: Seagate is down about 5.9% despite earnings of $7.68 a share against the calendar's $7.44 and a higher outlook, NXP is down about 7.9% after beating at $4.20, and Teradyne is down about 5.3% after $2.29 against $2.04. Visa is off about 2.0% after $3.48 against $3.43.
Research
The data helped the mood. Durable goods orders rose a street-reported 1.8% against the calendar's 1.2% forecast, consumer confidence jumped to 91.7 from 81.9, well above the 81.2 forecast, and new home sales came in at 676,000 against a 655,000 forecast. Boeing said supplier shortages should run into 2027, which keeps pressure on its costs. Posts say Meta's share sale drew about five times the orders on offer.
What X is saying
Posts say tech rallied ahead of this week's big tech reports and the Fed, with the chip index up about 3.6%, helped by Oracle widening its AI work with OpenAI. Accounts also note the S&P 500 excluding AI stocks is beating the full index by 6.4 points in October, a reminder that the rally had been broad until this week. These are claims, not confirmed facts.
Insight
Two days of chip gains have rebuilt the AI trade into Fed day, but the after-hours selling in NXP, Seagate and Teradyne says the bar for chip reports is now very high. The equal-weight index barely moved, so this is still a few big names carrying the index. Wednesday asks two questions in one session: what the Fed says at 2:00 PM ET, and whether Microsoft and Alphabet can justify the spending after the close.
- HeatingThe AI spending boomThe chip ETF rose 2.99% for a second strong day, with AMD up 5.49%, though NXP, Seagate and Teradyne fell 5% to 8% after hours despite beats.
- CoolingOil keeps climbingCrude fell 1.41% and futures settled at $99.90 despite the attack near Ras Tanura, and energy was the worst group at −2.02%.
- SteadyThe average stock catching upMixed signals: small caps rose 1.15%, but the equal-weight S&P managed only 0.09% against the S&P proxy's 0.57%.
SOURCES ›
- Economic calendar 2026-10-27: Durable Goods 8:30 AM ET (forecast 1.2%, prior 0%), Case-Shiller 9:00 AM ET (prior 0.0%), Consumer Confidence 10:00 AM ET (forecast 81.2, prior 81.9), New Home Sales 10:00 AM ET (forecast 655,000, prior 684,000); no actuals posted on the calendar
- Earnings 2026-10-27 before the open (EPS est): BA (−0.21), KO (0.87), UPS (1.63); after the close: V (3.43), STX (7.44), NXPI (4.14), TER (2.04)
- Economic calendar 2026-10-28: trade balance and inventories 8:30 AM ET; Fed rate decision 2:00 PM ET (prior range 3.75% to 4%); 2026-10-29: PCE and jobless claims 8:30 AM ET
- Earnings 2026-10-28: GEV, APH, ADP, BSX, VRT before the open; MSFT, GOOGL, KLAC, NOW, TMUS after the close
- Quotes as of 4:00 PM ET 2026-10-27 vs 2026-10-26 closes: SPY, QQQ, IWM, DIA, RSP, SMH, TLT, VXX, UUP, USO, GLD, XLK, XLY, XLI, XLB, XLU, XLE, XLP, XLRE, XLC, XLF, XLV, NVDA, AMD, AVGO, TSLA, META, ORCL, BA, UPS, KO
- After-hours quotes as of about 5:15 PM ET vs the 4:00 PM ET close: NXPI, STX, TER, V, SMH, SPY
- Bitcoin as of 5:15 PM ET vs midnight ET
- @FirstSquawk — “TECH STOCKS RALLIED AHEAD OF MAJOR TECH EARNINGS AND THE FED’S RATE DECISION, WITH THE NASDAQ 100 UP 1.3% AND THE SEMICONDUCTOR INDEX GAINING 3.6%”
- @FirstSquawk — “META’S $25 BILLION SHARE SALE WAS FIVE TIMES OVERSUBSCRIBED, WHILE ORACLE EXPANDED ITS AI PARTNERSHIP WITH OPENAI USING CEREBRAS”
- @FirstSquawk — “Core Loss/Share: 34c (est loss/share 21c)”
- @wallstengine — “Following Boeing's cut to its 2026 aircraft delivery outlook, as production increases for the 737 MAX and 787 Dreamliner are taking longer than expected, partly due to engine supply issues.”
- @FirstSquawk — “BOEING SAYS THE SUPPLIER SHORTAGES DISRUPTION IS EXPECTED TO CONTINUE INTO 2027”
- @FirstSquawk — “US Durable Goods Orders (M/M) Sep P: 1.8% (est 1.9%; prev -0.1%; prev R 0.1%)”
- @FirstSquawk — “US OCT. CONSUMER CONFIDENCE 91.7; EST. 81.0”
- @FirstSquawk — “US SEPT. NEW HOME SALES 676,000 ANN. RATE; EST. 651K”
- @FirstSquawk — “US CRUDE OIL FUTURES SETTLE 1.83% LOWER AT $99.90/BBL, DOWN $1.86”
- @wallstengine — “Adj. EPS: $7.68 (Est. $7.42)”
- @wallstengine — “Revenue: $4.8B +/- $100M (Est. $4.53B)”
- @FirstSquawk — “ADJUSTED EPS $4.20, ABOVE ESTIMATE OF $4.12”
- @wallstengine — “Adj. EPS: $2.29 (Est. $2.08)”
- @FirstSquawk — “VISA Q4 ADJUSTED EPS $3.48, ABOVE ESTIMATE OF $3.44”
- @KobeissiLetter — “The S&P 500 excluding AI stocks has outperformed the S&P 500 by +6.4 percentage points so far in October”
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