ETF Proxies Edge Higher on Oct. 28 as Fed Holds; Inflation and GDP Data Land the Next Morning
Broad US equity ETF proxies closed modestly higher on Tuesday, Oct. 28, with the Nasdaq-100 proxy (QQQ) up 0.60% and the S&P 500 proxy (SPY) up 0.34%. The session coincided with the Federal Reserve's rate decision and a news conference led by Warsh, according to CNBC's reporting; the packet does not provide index-level data or attribution linking the decision to the day's moves. Separate PCE inflation and third-quarter GDP reports were published the following morning, Oct. 29, and are not reflected in the Oct. 28 closes.
Key takeaways
- On Oct. 28, SPY closed at 772.31 (+0.34%), QQQ at 725.61 (+0.60%), DIA at 524.68 (+0.27%) and IWM at 281.29 (+0.40%). These are ETF proxies, not the underlying indices.
- CNBC reported the FOMC interest-rate vote went as expected, with some surprises from the meeting and the Warsh news conference; the packet does not specify the rate level or vote split.
- MarketWatch reported on Oct. 29 that PCE data showed inflation rising sharply again last month, while third-quarter GDP showed the fastest growth in more than a year. Both were published after the Oct. 28 close.
- Single-name moves in the gainers and losers lists were concentrated in low-priced, small-cap names; the packet provides no explanation for those moves, so no cause should be inferred.
- Data quality note: this brief is flagged degraded. One news feed was unavailable and 198 tickers lacking a prior-session close were excluded from the movers screens.
Some inputs were unavailable for this brief.
- Polygon: 198 tickers without a prior-session close were excluded.
- RSS Yahoo Finance: feed unavailable, timed out, or invalid.
Markets
| Ticker and name | Change | Price |
|---|---|---|
| SPYS&P 500 ETF proxy | +0.34% | $772.31 |
| QQQNasdaq-100 ETF proxy | +0.60% | $725.61 |
| DIADow Jones ETF proxy | +0.27% | $524.68 |
| IWMRussell 2000 ETF proxy | +0.40% | $281.29 |
Indices shown via ETF proxies.
Fed holds, but officials signal the pause may be temporary
CNBC reported that the FOMC's rate vote came in as expected, with additional surprises emerging from the meeting and the subsequent news conference led by Warsh. Treasury Secretary Scott Bessent told CNBC on Oct. 28 that it would "not necessarily" be a mistake if the Fed hikes again.
PCE and GDP reports published Oct. 29, after the session covered here
MarketWatch reported that PCE data showed the cost of living rose sharply again last month, and that third-quarter GDP showed the economy growing at its fastest pace in more than a year, which the publication attributed in part to artificial-intelligence investment and spending by wealthier households. Both stories carry Oct. 29 timestamps and therefore postdate the Oct. 28 close.
Earnings flow stays mixed across tech, transport and autos
CNBC reported that Alphabet's results disappointed across most lines, that FedEx beat top- and bottom-line expectations and raised its outlook in its first report since a calendar adjustment, and that Ford beat on earnings while slightly missing on revenue and guided to 2027 earnings in line with 2026. The packet does not include share-price reactions for these companies.
Chip and industrial headlines point in different directions
CNBC reported Samsung Electronics shares slid despite record third-quarter profit, while Jim Cramer said SK Hynix's quarter showed AI-linked stocks can still rally — commentary, not a verified market conclusion. Separately, MarketWatch reported during the Oct. 29 session that Caterpillar shares were heading for their worst day in seven years on weakness outside its data-center business; that move is not part of the Oct. 28 closing data.
Top movers
US session of 2026-10-28. Close-to-close change. Prices in USD.
Gainers
| Ticker and name | Change | Price |
|---|---|---|
| ULBIULBI | +145.44% | $15.61 |
| AIOKAIOK | +109.69% | $28.14 |
| KPTIKPTI | +73.35% | $0.83 |
| FTFTFTFT | +55.38% | $2.89 |
| BOOMBOOM | +44.49% | $7.73 |
| GIFTGIFT | +42.66% | $0.63 |
| PODCPODC | +36.11% | $2.45 |
| CHSNCHSN | +35.19% | $1.46 |
| GME.WSGME.WS | +34.60% | $0.42 |
| BEATBEAT | +32.82% | $0.53 |
Losers
| Ticker and name | Change | Price |
|---|---|---|
| JDZGJDZG | −75.41% | $1.50 |
| PLCEPLCE | −54.34% | $0.47 |
| BCAXBCAX | −44.16% | $9.76 |
| HUHUHUHU | −43.05% | $0.57 |
| MWYNMWYN | −36.77% | $1.41 |
| MEGLMEGL | −35.19% | $0.22 |
| MKDWMKDW | −30.86% | $0.18 |
| NXXTNXXT | −28.60% | $0.37 |
| OTLYOTLY | −27.15% | $8.56 |
| RUBIRUBI | −26.83% | $0.11 |
Sources
- DoorDash and Instacart want to join forces. Will the U.S. government get in their way? · MarketWatch
- ‘Fancy cars hold no appeal’: We have a 99% chance of outliving our life savings. Why not spend, spend, spend? · MarketWatch
- Inflation surges, PCE shows. Fed pause on rate hikes unlikely to last long with prices still rising. · MarketWatch
- Economy grows at fastest pace in more than a year, GDP shows, and shows little sign of slowing. · MarketWatch
- Caterpillar’s stock heads for worst day in 7 years — and what that means for the Dow · MarketWatch
- Lilly raised sales guidance for third time this year as Zepbound sales soar. Its stock is rallying. · MarketWatch
- It’s the strangest job market the U.S. has ever seen. The low-hire, low-fire economy turns 3 years old. · MarketWatch
- Is it dumb to take travel advice from influencers? · MarketWatch
- You can’t rely on the S&P 500 as much as you may think · MarketWatch
- We’re in our 70s. Should we pay off our 2.5% mortgage — or put the money in a high-yield savings account? · MarketWatch
- Samsung Electronics shares slid despite record profit in the third-quarter · CNBC
- Over 41,000 U.S. Homeland Security officials' details apparently exposed after massive data breach · CNBC
- Our next steps for Alphabet stock after earnings disappoint at nearly every turn · CNBC
- As Waymo expands overseas, it remains a niche cash-burning business · CNBC
- Jim Cramer sees major implications from SK Hynix's home-run quarter · CNBC
- Hands-on with Apple's first touchscreen laptop: Touch is totally optional · CNBC
- FedEx beats expectations, raises outlook in first report since calendar adjustment · CNBC
- Ford reports mixed third-quarter results, says 2027 earnings will be in line with this year · CNBC
- Here are five key takeaways from the Fed rate decision and Warsh news conference · CNBC
- Bessent says 'not necessarily' a mistake if the Fed hikes again · CNBC
AIK MARKET UPDATE is for information only and is not financial advice. It is generated automatically and may contain errors.