As of 9:45 AM IST, Tuesday 27 October 2026. US closing levels for Monday 26 October are from CNBC. Tuesday's Asian figures are intraday readings reported by Bloomberg (around 11:55 AM Tokyo time, 8:25 AM IST) and Reuters, and will change before the close. Where the two differ, both are given.
Wall Street ended higher on Monday as Anthropic's IPO filing revived the AI trade and sent chipmakers sharply higher. The rally spread to Asia on Tuesday, led by South Korea, while oil eased as regional diplomacy over Iran picked up. Investors now face a heavy week: the Federal Reserve's decision on Wednesday, the ECB on Thursday, the Bank of Japan on Friday, and results from Alphabet, Microsoft and Amazon.
Wall Street close, Monday 26 October
| Index | Close | Change |
|---|---|---|
| Dow Jones Industrial Average | 52,361.58 | +146.42 (+0.28%) |
| S&P 500 | 7,676.77 | +0.70% |
| Nasdaq Composite | 26,169.38 | +0.82% |
- Chips led. The iShares Semiconductor ETF (SOXX) rose nearly 3%. Nvidia gained 2.4%, Micron 3%, Broadcom 2.3% and AMD 2.8%, CNBC reported. SOXX is still about 25% below its high and down 13% this month.
- Deal news. Instacart jumped on a report that DoorDash is in advanced talks to buy it, while DoorDash fell.
- Losers. JetBlue tumbled about 12% after a Wall Street Journal report that senior creditors are working with a restructuring adviser.
- Context. The S&P 500 and Nasdaq were coming off back-to-back weekly losses. RBC Capital Markets warned of a possible 5% to 10% near-term pullback in the S&P 500.
Asia on Tuesday morning
- South Korea's Kospi was up 3.3% according to Bloomberg; Reuters said it gained more than 4% in early trade. SK Hynix and Samsung Electronics led.
- Japan: Reuters had the Nikkei up 1.9% early, and Bloomberg had the Topix up 0.6% by late morning.
- Elsewhere: Australia's S&P/ASX 200 was up 0.1%, Hong Kong's Hang Seng was little changed, the Shanghai Composite was down 0.2% and Taiwanese shares were lower (Bloomberg).
- Europe: Euro Stoxx 50 futures were down 0.2%, pointing to a softer open.
On Monday, Asia had closed mixed. The Nikkei 225 fell 0.80% to 62,189.65 and the Kospi fell 1.46% to 5,469.47, CNBC reported.
Oil, gold, bonds and currencies
| Asset | Latest reported | Source |
|---|---|---|
| Brent crude | Settled Monday at $115.81 (−0.8%); about $114.70–$114.95 in Asia on Tuesday | CNBC; Bloomberg / Reuters |
| WTI crude | Settled Monday at $101.57 (−1.7%); $100.88 (−0.9%) on Tuesday | CNBC; Bloomberg |
| Spot gold | $4,008.93 (−0.2%) / $4,013.70 | Bloomberg / Reuters |
| US 10-year Treasury yield | 4.97% / 4.992% | Bloomberg / Reuters |
| Yen | About 157.7 per dollar | Bloomberg, Reuters |
| Bitcoin | About $79,776 | Bloomberg |
Oil drifted away from last week's six-month high as investors weighed the chance of easing tensions in the US–Israeli war with Iran. ATFX Global's Nick Twidale told Reuters that any threat to physical exports could see Brent "quickly retest recent highs and potentially push back towards $120". CNBC reported that the US Strategic Petroleum Reserve stood at 282.6 million barrels last week, its lowest since 1982.
The Fed: a hold expected, but a hike still in play
The Fed announces its decision on Wednesday 28 October. Its statement usually comes at 2 PM Washington time, which is 11:30 PM IST. Fed funds futures implied about a 90% chance that rates stay in the 3.75%–4% range, CNBC reported. Bloomberg said markets priced about a 10% chance of a hike this week but more than 70% odds of an increase by year-end, after the Fed raised rates in September. Reuters said traders are pricing a hike in December.
That makes Chair Jerome Powell's press conference the main event. CIBC's Christopher Harvey told clients it "could be a very tricky, complicated press conference", Bloomberg reported.
What to watch this week
- Wednesday: Fed decision; Alphabet and Microsoft earnings after the US close.
- Thursday: ECB decision; US third-quarter GDP; Amazon and Intel earnings.
- Friday: Bank of Japan decision; euro-zone GDP.
- Further details of the Anthropic IPO, including its price range.
Disclaimer: This article is for information only and is not investment advice or a recommendation to buy, sell or hold any security. HorizonDesk is not registered with SEBI as an investment adviser or research analyst. Please consult a SEBI-registered professional before making investment decisions.
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