Wednesday, 28 October 2026

The do-nothing Fed

US equity indexes mostly closed a little higher, SPX +21pts (0.3%) at 7743. Nasdaq comp' +0.3%. Dow +0.2%. The Transports settled -2.5%. R2K +0.3%

SPX – daily

VIX – daily

Summary

Equities saw a natural holding pattern ahead of the Fed... whom naturally did nothing, ahead of the midterms. Post announcement, the SPX cooled back to breakeven of 7722, and settling marginally higher at 7743. 

Volatility was ground lower for a third day, the VIX settling -3.5% to 16.91 
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