Markets digest, 28 October 2026: US stocks edge higher as the Fed holds rates
The S&P 500 closed at 7,743.98 and Bitcoin ended at $81,224.64. The Fed left rates unchanged and US commercial crude stocks fell 1.9 million barrels.
All three major US stock indices closed higher on Wednesday 28 October, the day the Federal Reserve left its target range for the federal funds rate unchanged. Bitcoin and Ether rose, US commercial crude stocks fell, and the Bank of Canada raised its policy rate.
Stocks
The S&P 500 closed at 7,743.98, up from 7,722.60 on Tuesday. The Nasdaq Composite closed at 26,549.850, up from 26,477.810, and the Dow Jones Industrial Average at 52,475.10, up from 52,377.57. The Federal Open Market Committee kept rates on hold, with two members voting for a rise (read our brief).
Crypto
Bitcoin ended Wednesday at $81,224.64 on Coinbase, up from $80,728.47 on Tuesday. Ether ended at $2,356.92, up from $2,345.06.
Futures and options
FRED had not published Wednesday’s VIX close at the time of writing; on Tuesday it closed at 17.52, down from 18.39 on Monday. The CFTC announced a public roundtable on 24/7 trading in derivatives markets, to be held on 15 December (read our brief).
Energy and commodities
FRED’s latest oil and gas prices are for Tuesday 27 October: WTI at $103.37 a barrel, down from $105.25 on Monday, Brent at $123.10, down from $128.12, and Henry Hub natural gas at $2.76, up from $2.52. The EIA’s weekly report showed US commercial crude inventories down 1.9 million barrels to 410.6 million barrels in the week ending 23 October, with gasoline stocks up 3.9 million barrels and distillate stocks down 1.5 million barrels.
Metals
There were no official metals releases from the World Gold Council on Wednesday.
Forex
The ECB’s euro reference rate against the dollar was 1.1133, down from 1.115 on Tuesday. The euro was quoted at 0.83785 pounds, up from 0.83658, and at 175.86 yen, down from 175.97. The Bank of Canada raised its overnight rate target by 25 basis points to 2.5% (read our brief).
On the calendar
The ECB’s Governing Council ends its two-day monetary policy meeting in Frankfurt today, followed by a press conference. Separately, the ECB said today that President Christine Lagarde will step down on 7 February 2027.
- FRED: S&P 500 (SP500)
- FRED: Nasdaq Composite (NASDAQCOM)
- FRED: Dow Jones Industrial Average (DJIA)
- FRED: Coinbase Bitcoin (CBBTCUSD)
- FRED: Coinbase Ethereum (CBETHUSD)
- FRED: CBOE Volatility Index (VIXCLS)
- FRED: WTI crude oil, Cushing (DCOILWTICO)
- FRED: Brent crude oil, Europe (DCOILBRENTEU)
- FRED: Henry Hub natural gas spot price (DHHNGSP)
- EIA: Weekly Petroleum Status Report summary, week ending 23 October 2026
- ECB euro foreign exchange reference rates (USD, GBP, JPY), 27–28 October 2026
- Federal Reserve issues FOMC statement, 28 October 2026
- Bank of Canada raises the policy rate by 25 basis points to 2½%
- CFTC Release No. 9318-26: CFTC to Host Roundtable on 24/7 Trading
- ECB: ECB President Lagarde to step down on 7 February 2027
- ECB: Meetings of the Governing Council and related press conferences
Markets: Stocks · Crypto · Futures & Options · Energy & Commodities · Metals · Forex
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