Wed Oct 28, 2026 edition
Broadcom's $63B jolt, Boeing's 10.7% dive: your Fed-day setup
AP's Morning Brief · Wednesday, October 28, 2026 · 8:30 AM ET · covers the Tue Oct 27, 2026 session
Brief art: AP's Morning Brief.
Good morning. Chip stocks rallied for a third straight session on Tuesday, led by Broadcom after a $63 billion financing deal for its AI hardware, and the Nasdaq jumped 1.18%. Boeing was the big loser. Today is a central-bank double: the Bank of Canada at 9:45 AM ET and the Fed at 2:00 PM ET, with Microsoft and Alphabet results due.
Guess That Stock Chart
Chart: AP's Morning Brief. Data: Yahoo Finance, daily closes Apr 28 to Oct 27, 2026. [4]
Hint: this Dow stock reports after the bell today, and its earnings webcast starts at 5:30 PM ET. Answer at the bottom.
Stocks
| Index | Close | Change |
|---|---|---|
| S&P 500 | 7,722.60 | +0.60% |
| Dow | 52,377.57 | +0.03% |
| Nasdaq | 26,477.81 | +1.18% |
| S&P/TSX | 36,171.49 | +0.63% |
As of Tue Oct 27 close · Sources: CNBC and Reuters (U.S.), TSX Daily Trading Report (TSX) [1] [2] [3]
Chip Chase
Chart: AP's Morning Brief. Data: CNBC. [1]
What happened? Bank of America, Blackstone, Citi and Morgan Stanley announced a $63 billion transaction to buy Broadcom AI accelerators and networking gear that will be leased to Anthropic, with deliveries expected to start in 2027. [5] Broadcom (AVGO) climbed 4%, AMD gained 5% and Micron was up almost 3%. [1] Reuters said Anthropic's IPO buzz lifted chip stocks for a third consecutive session. [2]
Bottom line: The AI trade is back in charge for now, and today's test is big: Microsoft and Alphabet report today, with Amazon on Thursday. [2] Microsoft's numbers land after the close. [18]
Wing and a Prayer
Chart: AP's Morning Brief. Data: CNBC (LSEG estimates). [6]
What happened? Boeing (BA) tumbled 10.7% after a bigger-than-expected loss. [2] It posted an adjusted loss of 34 cents a share versus the 21 cents analysts expected, though revenue of $24.19 billion beat the $23.84 billion estimate. CEO Kelly Ortberg said Boeing is targeting 52 737 Max jets a month in the second half of 2027, up from about 47 now. [6]
Elsewhere: UPS rose 5.8% after raising its annual forecasts, Royal Caribbean gained 5.5%, and Xylem slid 14.2% after trimming its outlook. [2]
Chart: AP's Morning Brief. Data: Reuters. [2]
Maple Leaf Lift
What's the focus? The TSX hit a six-day high. Celestica jumped 11.9% after its quarterly results beat estimates, and materials rose 3.3% as gold climbed. [3]
Brief Break
91.7. That's the Conference Board's October consumer confidence reading, up 7.5 points from September and well above the 81 forecast, helped by cheaper gasoline. [1]
Global
| Index | Close | Change |
|---|---|---|
| STOXX Europe 600 | 643.68 | +0.47% |
| FTSE 100 | 10,686.50 | −0.75% |
| CSI 300 | 4,049.55 | −1.32% |
As of Tue Oct 27 close · Sources: Reuters (STOXX 600), Yahoo Finance (FTSE 100, CSI 300) [7] [4] [8]
Bank Drag
What happened? European shares erased early losses to close higher on strong earnings and cheaper crude. The exception was HSBC, which fell more than 5% to a more-than-four-month low after a revenue miss, dragging the FTSE 100 down 0.75%. [7] The ECB's rate decision is due Thursday. [7] [9]
Meanwhile in China: The Shanghai Composite fell 1.33% and the Shenzhen Component lost 2.5% on Tuesday. [10]
Economy
| Market | Level | Change |
|---|---|---|
| U.S. 10-yr yield (WSJ) | 4.992% | +0.004 pp |
| Gold (Comex front month) | $4,058.80 | +0.91% |
| WTI crude | $99.90 | −1.83% |
As of Tue Oct 27 close/settle · 10-yr: up 0.004 pp to 4.992% (WSJ); the U.S. Treasury's official 10-yr par yield was 4.99% (vs 5.00% on Oct 26) · Sources: WSJ (10-yr), U.S. Treasury (10-yr), Morningstar/Dow Jones (gold), CNBC (WTI) [11] [12] [13] [1]
Fed Day
Photo: Marriner S. Eccles Federal Reserve Board Building, by AgnosticPreachersKid, CC BY-SA 3.0, via Wikimedia Commons.
What's the focus? The Fed's two-day meeting wraps today with the decision at 2:00 PM ET and Chairman Kevin Warsh's press conference at 2:30 PM ET. [14] Futures point to about a 10% chance of a hike this week, but better than 80% odds of one in December. [15]
Bottom line: A hold is expected. Watch whether Warsh hints at that December hike.
Loonie Decision
Photo: Bank of Canada facade, by 方畢可, CC0, via Wikimedia Commons.
What's the focus? The Bank of Canada announces its rate decision and Monetary Policy Report at 9:45 AM ET, before the Fed. [16]
Crude Cools
Why? WTI settled down 1.83% to $99.90 and Brent shed 1.67% to $113.88 after Iran's leaders discussed the country's conditions for ending the conflict. [1] Energy was the S&P 500's weakest sector. [2]
Crypto
| Coin | Price | Change |
|---|---|---|
| Bitcoin | $80,805 | +1.00% |
| Ether | $2,347.73 | +1.18% |
As of Tue Oct 27 daily close (end of the UTC day, 8:00 PM ET) · Source: Yahoo Finance [4]
Crypto Catch-Up
What's the focus? Bitcoin slipped below $80,000 early Tuesday before recovering as the Nasdaq rallied. [17] Robinhood's crypto revenue came in at $120 million, ahead of forecasts but down 55% from $268 million a year earlier. [17]
Guess That Stock: Answer
It's Microsoft (MSFT). The stock closed at $531.33 on Tuesday, up about 24% from $429.25 six months earlier. Along the way it hit a low close of $352.83 on June 25 and a high of $543.45 on Oct 13. [4] Fun fact: Microsoft posts its fiscal 2027 first-quarter results after the close today. Yes, its fiscal year is already in Q1. [18] MSFT quote page
That's your edge for Wednesday. See you tomorrow at 8:30am ET.
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Sources
- CNBC, "S&P 500 posts back-to-back winning days as chips rally and oil prices slide: Live updates" (Oct 27, 2026): https://www.cnbc.com/2026/10/26/stock-market-today-live-updates.html
- Reuters via Yahoo Finance, "Wall Street ends higher on revived AI momentum" (Oct 27, 2026): https://finance.yahoo.com/markets/stocks/articles/us-stock-futures-muted-oil-095309821.html
- Reuters via MarketScreener, "TSX hits six-day high, led by Celestica and metal miners" (Oct 27, 2026); Finimize summary; TSX Daily Trading Report, Oct 27, 2026: https://au.marketscreener.com/news/tsx-hits-six-day-high-led-by-celestica-and-metal-miners-ce785cddd18af327 · https://finimize.com/content/canadas-tsx-hits-a-six-day-high-on-celestica-and-gold · https://tsx.com/files/trading/daily-trading-report/Daily_Trading_Report_2026-10-27.pdf
- Yahoo Finance chart data (^FTSE, BTC-USD, ETH-USD, MSFT), fetched Oct 28, 2026 ~6:00 AM ET: https://finance.yahoo.com/
- Broadcom, "Bank of America, Blackstone, Citi and Morgan Stanley Announce Landmark $63 Billion Financing Structure…" (Oct 26, 2026); same deal in the Reuters/Yahoo wrap: https://investors.broadcom.com/news-releases/news-release-details/bank-america-blackstone-citi-and-morgan-stanley-announce · https://finance.yahoo.com/markets/stocks/articles/us-stock-futures-muted-oil-095309821.html
- CNBC, "Boeing says it won't significantly ramp up 737 Max production until late 2027" (Oct 27, 2026): https://www.cnbc.com/2026/10/27/-boeing-ba-q3-2026-earnings.html
- Reuters via Euronext, "European shares shrug off HSBC miss as other earnings, oil relief lift sentiment" (Oct 27, 2026): https://live.euronext.com/en/financial-news/european-shares-shrug-hsbc-miss-other-earnings-oil-relief-lift-sentiment
- Yahoo Finance Hong Kong, CSI 300 closes at 4,049.55, down 1.32% (Oct 27, 2026): https://hk.finance.yahoo.com/news/%E6%BB%AC%E6%B7%B1300%E5%85%A8%E6%97%A5%E6%94%B6%E5%A0%B14049-55%E9%BB%9E%E8%B7%8C1-32-070208525.html
- European Central Bank, Governing Council meeting calendar (Oct 28–29, 2026): https://www.ecb.europa.eu/press/calendars/mgcgc/html/index.en.html
- Xinhua, "Chinese shares close lower Tuesday" (Oct 27, 2026): https://english.news.cn/20261027/a7e88270aad545caa042bd5de851d6b6/c.html
- WSJ, "Treasury Yields Rise Slightly Ahead of Expected Fed Hold" (Oct 27, 2026, 10-yr 4.992%): https://www.wsj.com/finance/jgb-yields-higher-as-ai-bubble-concerns-ease-e2e84cbb
- U.S. Treasury, Daily Treasury Par Yield Curve Rates, October 2026 (10 Yr: 4.99 on 10/27): https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value_month=202610
- Morningstar / Dow Jones Data Talk, "Comex Gold Settles 0.91% Higher at $4058.80" (Oct 27, 2026): https://www.morningstar.com/news/dow-jones/202610278602/comex-gold-settles-091-higher-at-405880-data-talk
- Federal Reserve Board, Calendar: October 2026 (FOMC meeting Oct 27–28, statement 2:00pm ET, press conference 2:30pm ET): https://www.federalreserve.gov/newsevents/2026-october.htm
- CNBC, "Fed expected to hold rates steady, but Warsh may point way to more hikes" (Oct 27, 2026): https://www.cnbc.com/2026/10/27/federal-reserve-rates-kevin-warsh.html
- Bank of Canada, Interest Rate Announcement and MPR, Oct 28, 2026 (09:45 ET): https://www.bankofcanada.ca/2026/10/interest-rate-announcement-and-monetary-policy-report-october-28-2026/
- CoinDesk, "Live updates: Bitcoin edges higher as Nasdaq surges 1.2%" (Oct 27, 2026): https://www.coindesk.com/tech/2026/10/27/live-updates-bitcoin-holds-below-usd80-000-as-ai-buildout-draws-more-capital
- Microsoft, "Microsoft announces quarterly earnings release date" (Oct 7, 2026; webcast 2:30 p.m. PT = 5:30 p.m. ET): https://news.microsoft.com/source/2026/10/07/microsoft-announces-quarterly-earnings-release-date-69/
Image credits: chart cards and banner are AP's Morning Brief art; editorial photos credited in their captions. All image credits
