Stocks edge higher after the Fed holds; S&P 500 +0.28%, Dow +0.19%, Nasdaq +0.27% as the 10-year rises to 5.02%
Wall Street finished with small gains after a hawkish-leaning Fed hold, while the 10-year Treasury yield climbed further above 5% and attention shifted to Microsoft and Alphabet results after the bell.
US stocks closed modestly higher on Wednesday after the Federal Reserve kept its target range at 3.75%-4.00% in a 10-2 vote, with two officials favoring another hike.
| Index / rate | Close | Change |
|---|---|---|
| S&P 500 | 7,743.98 | +21.38 (+0.28%) |
| Dow Jones Industrial Average | 52,475.10 | +97.53 (+0.19%) |
| Nasdaq Composite | 26,549.85 | +72.04 (+0.27%) |
| 10-year Treasury yield | 5.02% | +0.03 pt |
What drove it: The hold itself was priced in, so the reaction played out in bonds rather than stocks. The 10-year yield kept rising above 5% and Brent crude traded above $110 during the afternoon, keeping inflation worries alive. Memory-chip stocks such as Micron led gains for much of the day, and Wendy’s jumped after Trian offered to buy the company.
Why it matters: Equities are holding near record territory even with a 5% 10-year yield, which leaves valuations sensitive to any disappointment from megacap earnings. That test started right after the bell, as Microsoft and Alphabet reported.
WMR data: Rates, the yield curve and the VIX are tracked on /en/markets/pulse/.
Next: Microsoft and Alphabet in after-hours trading, then Thursday’s Q3 GDP and September PCE inflation, and Amazon and Intel results after Thursday’s close.
Corrections
- 2026-10-28 · The 10-year Treasury yield was corrected to 5.02% (+0.03 point), the closing level reported by AP, from 5.05%, so it matches the evening report.
Sources
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