Market Open: Stocks Higher, Investors Await Fed Rate Decision, Wendy’s in Play • 10/28/26

0:01See NBC Business News Update Market Open. I'm Jessica Ettinger. Wall Street's in the green. Out of the gate for the major averages, the Dow is up 21 points. Google parent Alphabet leading it higher. Those shares up a little more than 1%. That company, Alphabet, reporting quarterly results this afternoon after the closing bell. The S &P 500 index up 9 points this morning. The Nasdaq up 67 points. Investors are waiting for a Fed decision on interest rates coming this afternoon. It's widely expected. It will hold them steady, but investors will closely watch the commentary by Fed Chair Kevin Warsh.

0:41Full coverage of that on CNBC TV, CNBC.com as well at 2 p.m. Eastern. Treasury yields were ticking higher this morning. The yield on the 10-year note back above 5 percent. President Trump said the Iran war will end when he wants it to, as costs reportedly ballooned to$47 billion. This is according to The Hill. The war is costing American families about$2 ,000 more since it started back at the end of February, according to Moody's Analytics chief economist Mark Zandy. Oil higher today. U.S. crude back above$100 a barrel, close to 102. AAA saying the national average for a gallon of regular today is$4.24.

1:24On this day last year, gas was about$3 a gallon. Two big tech names reporting quarterly results after the closing bell today. We mentioned Google parent Alphabet. Here's CNBC's Karen Cho. It's MAG 7 day. MAG 7 Giants, Microsoft, and Alphabet are set to report quarterly results after the market closed today. Wall Street will be laser focused on new AI products and enterprise AI adoption, as well as cloud revenue growth. Wendy's shares popping today on a$1.4 billion takeover offer from Nelson Pels' TryAn. Shares of Instacart surging on a Wall Street Journal report that DoorDash is in talks to buy that delivery company.

2:03Korean chipmaker SK Hynek's ADRs in the U.S. were higher on blowout quarterly results. Here's CNBC's Morgan Brennan. A record high quarterly net profit that easily beat street estimates, also announcing massive new shareholder rewards in the form of buybacks and dividends as AI infrastructure demand continues to drive up memory prices. The company is saying that operating profits rose more than 630 percent compared to a year ago. An AI trade warning meantime from Ed Money host Jim Cramer on CNBC. He's bullish on AI but says use some caution. I am pleased that people feel so comfortable. The tech is now all good to go because there is money flowing back in.

2:43My travel trust owns a lot of these companies. You need to see them rally. But tell me something. What the heck does that have to do with the coast being clear? But the bottom line is nothing has changed except bonds are tame going into a Fed meeting, which will then be followed by an election and then the potential for a fresh bombing run over the skies of Tehran. I don't happen to think that's all of a reason to call all clear. I think it's a reason to look at other sectors in the economy. More would-be homebuyers applied for riskier adjustable rate mortgages last week to the highest level in more than a year.

3:13Arms start with a lower than average interest rate, but then they jump up after a set period of time. Today's average rate on a 30-year fixed home loan is 7.33 percent, according to Mortgage News Daily. The week before the U.S. sent missiles into Iran at the end of February, the average was in the fives at 5.99 percent. Tonight's Powerball jackpot,$716 million. Jessica Ettinger, CNBC. From gas prices to housing prices, from government spending to consumer spending, from the AI boom to the data center backlash, how will this election hit your pocketbook and your portfolio? Continuing coverage, the economy election, CNBC.

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