AFTER THE CLOSE · October 28, 2026
Closing market recap : Oct 28, 2026
Markets ended modestly higher, but the real story is unfolding after hours as big-tech earnings and tomorrow’s economic data start to reset expectations for growth, inflation, and interest rates.
Market overview
The S&P 500 inched higher by about a third of a percent at the close, while a tech-heavy fund rose a bit more as investors digested a busy Federal Reserve day and a wave of earnings.
Sector and industry performance
Technology, financial, basic materials, and healthcare stocks generally climbed, while real estate, utilities, and consumer defensive names slipped, signaling investors favored growth and economically sensitive areas over classic safety plays.
Stock movers and news
Vertiv jumped about 17% after reporting strong results and raising its outlook, while Micron and other chip-related names also gained, highlighting ongoing enthusiasm around data centers and artificial intelligence hardware.
Stock movers and news
CoStar sank roughly 14% even though it reported profits and sales above expectations, showing that beating forecasts does not always protect a stock if investors worry about the outlook or valuation.
Reported earnings
After the close, Microsoft reported better-than-expected profits and revenue and traded sharply higher, while Alphabet missed profit estimates and its shares slid, setting up a tug-of-war in big-tech sentiment tonight and tomorrow.
Reported earnings
ServiceNow shares tumbled after hours even though revenue slightly topped forecasts, and other tech names like KLA and Fortinet rose on better-than-expected results, underscoring how reactions can depend on future guidance as much as current numbers.
Economic events
Looking ahead, Thursday’s reports on inflation, consumer spending, and third-quarter U.S. growth, plus earnings from Amazon, Eli Lilly, Mastercard, Intel, Merck, Caterpillar, Shell, and Linde, could quickly shift views on the economy and keep volatility elevated.
What to watch next
Markets ended modestly higher, but the real story is unfolding after hours as big-tech earnings and tomorrow’s economic data start to reset expectations for growth, inflation, and interest rates.