Wall Street froze ahead of Powell's pause, and our Alphabet shares have to justify the entire AI bill tonight

Morning brief: Wall Street froze ahead of Powell's pause, and our Alphabet shares have to justify the entire AI bill tonight

Published Oct 28, 2026, 8:03 AM EDT

Fed and Tech Giants Dominate Futures

U.S. stock futures are trading mixed early Wednesday as investors await the Federal Reserve's 2:00 PM ET interest rate announcement and subsequent press conference. While markets widely anticipate a pause at 3.75%–4.00%, any commentary regarding sticky inflation or elevated corporate debt will dictate risk appetite across equity markets.

Sources: www.morningstar.com

Boeing Drops 10.7% on Output Delays

Boeing tumbled 10.69% to $168.18 after posting an adjusted third-quarter core loss of $0.34 per share and delaying its 47-per-month 737 MAX production target to early 2027. Although the company's backlog reached a record $745 billion, extending the manufacturing ramp delays free cash flow recovery and keeps factory execution risks high.

Sources: investors.boeing.com · www.euronews.com

Celestica Leaps 12.1% on AI Demand

Celestica climbed 12.12% to $276.54 after delivering Q3 revenue of $5.83 billion, up 83% year-over-year, and non-GAAP adjusted EPS of $3.30 that topped expectations. Management capitalized on surging AI infrastructure demand by raising 2026 revenue guidance to $21.0 billion and setting an ambitious 2027 revenue target of $40.0 billion.

Sources: corporate.celestica.com

SoFi Jumps 13.4% on Record Revenue

SoFi Technologies jumped 13.42% to $16.40 following a third quarter where adjusted net revenue surged 44% year-over-year to $1.4 billion and adjusted net income reached $243 million. A record addition of 1.2 million members drove total membership to 17.1 million, enabling management to increase full-year 2026 adjusted revenue guidance to $5.04 billion.

Sources: investors.sofi.com

Big Tech Capex Faces Crucial Test

After today's Fed decision, Wall Street turns to post-close earnings from Microsoft and Alphabet to test whether massive AI infrastructure outlays are generating durable cloud revenue growth. With the Fear & Greed Index locked in Fear at 34, any signs of decelerating cloud momentum or aggressive capital spending could trigger broad market downside.

Sources: www.morningstar.com

Market posture: Fear sentiment (34) ahead of FOMC and megacap tech earnings mandates a disciplined, selective posture with opportunistic cash deployment.

Stocks in this edition: GOOGL, MSFT

Upcoming earnings

• GEV — Wed, Oct 28, 2026, before the open
• MSFT — Wed, Oct 28, 2026, time not announced
• GOOGL — Wed, Oct 28, 2026, time not announced
• AMZN — Thu, Oct 29, 2026, time not announced
• RDDT — Thu, Oct 29, 2026, time not announced
• APP — Wed, Nov 4, 2026, after the close

The day's lineup changes

No lineup changes this day.