Fed Decision Today as S&P 500 Futures Hold Overnight

The Federal Reserve decision is due later today as S&P 500 futures hold overnight. Tuesday's evening review had the Nasdaq leading as oil eased; overnight S&P 500 futures last printed about 7,764, labeled overnight futures, against Tuesday's cash close of 7,722.60. US cash opens at 15:30 Cyprus (13:30 UTC).

The Setup: South Korea Stocks Jump While US Futures Hold

The S&P 500 closed 7,722.60 on Tuesday, up 0.60 percent (Associated Press, Seattle Times). Range 7,677.16 to 7,736.24. October 6's 7,818.93 record close remains unrepaired. The Nasdaq Composite closed 26,477.81, up 1.18 percent. The Dow closed 52,377.57, up 0.03 percent. Overnight S&P 500 futures last printed about 7,764, labeled overnight futures (MarketWatch 7,764.25 at 3:28 a.m. CDT October 28). South Korea's Kospi closed 6,012.44, up 6.63 percent, the sharp overnight move in world stocks, after SK hynix reported record third-quarter earnings and a large shareholder-return plan (Korea Times, Yonhap). SK hynix last printed about +10.9 percent and Samsung Electronics about +9.0 percent. Japan's Nikkei rose about 1.1 percent in the session. Australia's CPI printed 4.3 percent year over year for September, up from 4.0 percent, with the trimmed mean at 3.6 percent (ABS, 02:30 Cyprus / 00:30 UTC). The Reserve Bank of New Zealand held the cash rate at 2.75 percent in a 4-3 split at 03:00 Cyprus (01:00 UTC), against a hike that had been widely priced; the kiwi slumped nearly a cent (RNZ). German GfK sentiment slipped to -30.8 from -30.6 (Reuters, 09:00 Cyprus / 07:00 UTC). S&P bullish trigger: a reclaim of Tuesday's 7,736.24 high, then 7,818.93. Bearish trigger: a fade through Tuesday's 7,677.16 low.

Story of the Day: The Fed Decision Lands Tonight

The Federal Open Market Committee statement is due at 20:00 Cyprus (18:00 UTC), with Chair Kevin Warsh at 20:30 Cyprus (18:30 UTC). This is a non-projection meeting: no dot plot and no updated Summary of Economic Projections. Markets still treat a hold at 3.75 to 4.00 percent as the base case after September's hike, with December the live meeting. The Bank of Canada prints at 15:45 Cyprus (13:45 UTC), with Governor Tiff Macklem at 16:30 Cyprus (14:30 UTC), a possible first hike in a year that would sit on the same North American afternoon. Microsoft and Alphabet report after the US close at 22:00 Cyprus (20:00 UTC). Scenarios to watch: a patient hold that leaves December open, or a hawkish statement and vote split that would reprice the path into those earnings. None of this is a recommendation.

Oil Rebounds After a Claimed Strike on a Saudi Refinery

West Texas Intermediate last printed about 101.53 dollars (OilPriceAPI at 10:01 UTC), up from Tuesday's 99.90 settle. FT.com sat at 101.58 as of 09:38 BST, under 1 percent apart. Session range 99.75 to 102.24. Brent last printed about 115 dollars (OilPriceAPI 114.98 on the same stamp). Yemen's Houthis said on Tuesday they hit Saudi Arabia's Ras Tanura refinery, the kingdom's largest, with a ballistic missile; Saudi authorities did not immediately confirm the claim (Reuters, CNBC). Tuesday's fade through 100 reversed overnight as that supply risk returned to crude. EIA crude inventories print at 16:30 Cyprus (14:30 UTC). Oil bullish trigger: a reclaim of Monday's 101.76 settle, then Friday's 103.27. Bearish trigger: a slip through the session low at 99.75, then Tuesday's 99.44.

Gold Holds Near Four Thousand Fifty Dollars

Spot gold last printed about 4,052 dollars (TradingView 4,051.560 as of October 28). Kitco sat at 4,053.70 at 6:01 a.m. ET, range 4,027.30 to 4,071.60, down 0.14 percent. Tuesday evening last printed about 4,061. The one-month fade is about 4.9 percent (TradingView), a slow drift rather than a same-day shock. The 4,100 zone from last week's notes remains overhead. Friday's close near 3,996 was the first finish under 4,000 in three months. Gold bullish trigger: a reclaim of 4,100. Bearish trigger: a slip through the session low near 4,027, then 3,999.

Bitcoin Last Printed $81,392 Overnight

Bitcoin last printed about 81,392 dollars (TradingView), up 0.73 percent over 24 hours. CoinMarketCap sat about 81,274 to 81,393, under 1 percent apart. Tuesday evening last printed about 80,577. The 21-period exponential average near 82,700 from last week's notes remains overhead. The 80,400 then 79,370 zones remain the lower references. Ether last printed about 2,369 dollars (TradingView 2,369.3). Prints labeled intraday. BTC bullish trigger: a reclaim of 82,700. Bearish trigger: a slip through 80,400, then 79,370.

What's Next: Budget, BoC, EIA, Then the Fed

The UK Autumn Budget, Chancellor John Healey's first, lands at 14:30 Cyprus (12:30 UTC). US cash opens at 15:30 Cyprus (13:30 UTC). The Bank of Canada decision prints at 15:45 Cyprus (13:45 UTC), with Macklem at 16:30 Cyprus (14:30 UTC), the same stamp as the EIA crude report. The FOMC statement is at 20:00 Cyprus (18:00 UTC), Warsh at 20:30 Cyprus (18:30 UTC), and Microsoft and Alphabet at 22:00 Cyprus (20:00 UTC). Already printed: Australia CPI at 02:30 Cyprus, the RBNZ at 03:00 Cyprus, and German GfK at 09:00 Cyprus. Docket: the calendar and the week ahead. Scenarios to watch, not a recommendation.

For live prices see the ThriveInMarkets homepage. None of the above is a recommendation to buy or sell any asset. US cash closes are Tuesday, October 27, 2026. Overnight prints are Wednesday, October 28, 2026.