Wednesday: The Fed, Alphabet and Amazon

Avatar photo NeilSethi on October 28, 2026

US economic data is light Wednesday, with just the September advance goods trade balance and wholesale and retail inventories plus weekly MBA mortgage applications and EIA petroleum inventories.

The FOMC takes center stage announcing its decision at 2pm ET, with a hold priced at ~93% by CME’s FedWatch tool, followed by Chair Warsh’s press conference at 2:30pm ET.

The only Non-Bill (>1yr in maturity) US Treasury auction is a $30B 2-year floating-rate note (not followed due to its floating nature).

Alphabet and Microsoft lead 46 S&P 500 components reporting, nine of them with market caps over $100B:

Before the open: GE Vernova ($GEV), Amphenol ($APH), ADP ($ADP), Phillips 66 ($PSX), Vertiv ($VRT), American Electric Power ($AEP), Boston Scientific ($BSX), Aon ($AON), TE Connectivity ($TEL), Garmin ($GRMN), Old Dominion Freight Line ($ODFL), Biogen ($BIIB), GE HealthCare ($GEHC), Otis Worldwide ($OTIS), Labcorp ($LH), Smurfit Westrock ($SW), NiSource ($NI), Fortive ($FTV), International Paper ($IP), IDEX ($IEX), C.H. Robinson ($CHRW), Masco ($MAS), Lennox International ($LII) and Generac ($GNRC)

After the close: Alphabet ($GOOGL), Microsoft ($MSFT), KLA ($KLAC), ServiceNow ($NOW), T-Mobile ($TMUS), Equinix ($EQIX), O’Reilly Automotive ($ORLY), FedEx ($FDX), Carvana ($CVNA), eBay ($EBAY), Honeywell Aerospace ($HONA), Ford ($F), Chipotle ($CMG), Raymond James ($RJF), American Water Works ($AWK), FedEx Freight ($FDXF), Invitation Homes ($INVH), Tyler Technologies ($TYL), Gen Digital ($GEN), MAA ($MAA), Align Technology ($ALGN) and MGM Resorts ($MGM)

Ex-US highlights include decisions from central banks in Canada and New Zealand, Germany November GfK consumer confidence, France Q3 total jobseekers, Italy August industrial sales and September PPI, and Australia September CPI.

Upside, Downside Movers in the Morning

Avatar photo Doug Kass on October 12, 2026

Upside

– $GIXI +135.0% (autonomous robots begin delivering blood and bone marrow at a major hospital, expanding an existing chemotherapy-logistics deployment)

– $CCC +10.5% (GTCR and Elliott are reportedly in advanced acquisition talks, with a deal potentially coming this week)

– $MEDS +7.0% (Humana adds the ChemoFx gynecologic-cancer assay to a Medicaid coverage policy)

– $IREN +5.5% (Anthropic is reportedly the previously undisclosed customer behind a multiyear AI-cloud services agreement)

– $BIIB +2.5% (JPMorgan upgrades to Overweight, citing an increasingly compelling clinical-catalyst path)

– $BFLY +1.5% (Canaccord initiates coverage with a Buy rating)

Downside

– $WFF -15.5% (gives back part of Friday’s nearly 500% speculative surge, with no fresh company catalyst identified)

– $QUCY -13.5% (launches an at-the-market equity program allowing up to $100 million of share sales)

– $MU -2.5%, $MRVL -2.0%, $INTC -1.5% (chip stocks weaken as advanced-memory competition and concerns over AI spending weigh on the sector)