Markets

S&P 500 and Nasdaq Rise as Chipmakers Extend Rebound While Boeing Drags on Dow at Start of Fed Meeting

The S&P 500 and Nasdaq gained Tuesday as chip stocks rose for a third day and oil eased, while a slide in Boeing kept the Dow near flat as the Fed opened its two-day meeting.

Oct 27, 2026 - 12:18

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U.S. stocks moved higher on Tuesday, October 27, 2026, led by semiconductor and other artificial intelligence-related shares, as a second day of lower crude prices supported risk appetite and the Federal Reserve opened a two-day policy meeting. The Dow Jones Industrial Average lagged the other major indexes as Boeing shares fell after the planemaker's quarterly report.

Quote data on Yahoo Finance's live markets page around 12:08 p.m. ET showed the S&P 500 at about 7,729, up roughly 0.7%, the Nasdaq Composite at about 26,513, up roughly 1.3%, and the Dow at about 52,440, up roughly 0.1%. CNBC's live coverage reported similar late-morning gains. The figures are intraday and will change before the close.

The session opened more cautiously. At 9:57 a.m. ET, the Dow was down 73.92 points, or 0.14%, at 52,287.66, while the S&P 500 was up 0.16% at 7,689.22 and the Nasdaq was up 0.38% at 26,267.46, Reuters reported.

Chip stocks rise for a third day

Reuters said the Philadelphia SE Semiconductor index rose 1.8% in early trading, putting it on course for a third straight gain after what the agency called "a bruising few weeks," and that neocloud companies CoreWeave and Nebius were trading sharply higher. CNBC reported that Broadcom climbed more than 3% after Bank of America, Citi, Morgan Stanley and Blackstone announced $63 billion in financing for the purchase of Broadcom's technology for Anthropic. Advanced Micro Devices rose nearly 3% and Micron Technology gained more than 1%, according to CNBC.

The moves extended Monday's rally, which followed Anthropic's public filing for an initial public offering on the Nasdaq. Yahoo Finance noted that the resurgent AI trade also lifted South Korean chip stocks and the KOSPI index in Asian trading.

Meta Platforms fell 1.1% in early trading after increasing its equity fundraising to $97.5 billion to fund AI expansion, Reuters reported, adding that Nvidia, AMD and Broadcom have expressed interest in buying up to $5 billion in total. Yahoo Finance reported that Nvidia committed to invest $3 billion in Meta's offering. Tesla rose close to 3%, building on a gain of more than 5% on Monday, according to Reuters.

Boeing weighs on the Dow

Boeing reported a third-quarter net loss of $116 million, or 26 cents a share, compared with a $5.34 billion loss a year earlier, CNBC reported. Excluding one-time items, the loss was 34 cents a share, wider than the 21-cent loss analysts surveyed by LSEG had expected. Revenue rose 4% to $24.19 billion, above the $23.84 billion estimate, helped by a 15% increase in defense revenue to $7.94 billion. Chief Executive Kelly Ortberg said the company is targeting a 737 Max production rate of 52 planes a month in the second half of 2027, up from about 47 currently. CNBC said the stock was down about 9% during the earnings call.

Sherwin-Williams fell 3.4% in early trading after a quarterly profit miss, also weighing on the Dow, while Xylem dropped 8.8% after trimming full-year forecasts, Reuters reported. Royal Caribbean rose 6.5% after raising its full-year profit forecast, and General Motors gained 5% after announcing plans to move its stock listing to the Nasdaq.

Among other earnings, CNBC said SoFi Technologies rose more than 13% in early trading after results beat estimates and the company raised its full-year guidance. Coca-Cola reported adjusted earnings of 91 cents a share on revenue of $13.4 billion, both above estimates, and raised its earnings outlook, while noting slower demand in North America, Yahoo Finance reported; the stock traded slightly lower. JetBlue jumped 20% despite a wider-than-expected quarterly loss, according to CNBC.

Consumer confidence and durable goods

The Conference Board's Consumer Confidence Index rose 7.5 points to 91.7 in October from an upwardly revised 84.2 in September. The Present Situation Index rose 8.6 points to 120.4, and the Expectations Index rose 6.9 points to 72.6. Consumers' average 12-month inflation expectations declined but remained elevated at 5.8%, the group said. "The recovery was in line with retail gasoline prices easing from September to October," said Fergus McCormick, senior economist for global indicators at The Conference Board.

Separately, the Commerce Department reported that orders for durable goods rose 1.8% in September after a 0.1% increase in August, slightly above the 1.7% consensus forecast from Dow Jones, CNBC reported. Excluding transportation, orders rose 0.5%.

Fed decision due Wednesday

The Fed is widely expected to leave interest rates unchanged on Wednesday after raising them last month, Reuters reported, though markets are pricing in at least two more increases by mid-2027 as inflation measures remain elevated during the U.S.-Iran conflict. Yahoo Finance cited CME Group data showing about 10% odds of a hike at this week's meeting. Alphabet and Microsoft report quarterly results on Wednesday, and Amazon.com reports later in the week. Reuters also noted that investors are looking ahead to the November 3 midterm elections, which will decide control of Congress.

In early trading, advancing issues outnumbered decliners by a 1.16-to-1 ratio on the NYSE and by 1.24-to-1 on the Nasdaq, according to Reuters.