Tech Stocks Rise for 3rd Day as Fed Decision and Big Tech Earnings Loom
Updated
Updated · Yahoo Finance · Oct 28
Tech Stocks Rise for 3rd Day as Fed Decision and Big Tech Earnings Loom
3 articles · Updated · Yahoo Finance · Oct 28
Summary
U.S. stocks edged higher early Wednesday, with the tech sector extending a three-day advance ahead of the Federal Reserve’s policy decision later in the day.
Chip shares helped drive the move: Nvidia, AMD and Broadcom all rose after SK Hynix reported a sevenfold jump in quarterly profit.
Alphabet and Microsoft earnings due after the close also kept investors focused on megacap tech, adding to the sector’s momentum.
Brent crude climbed more than 1% to near $111 a barrel and WTI traded around $101 as markets largely expected the Fed to hold rates steady but signal a hawkish tone.