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Fed Holds Rates Steady as Alphabet Miss Drags Nasdaq Futures Lower

The Fed kept its target range at 3.75%-4.00% in a 10-2 vote, while Alphabet's weak quarter pushed Nasdaq-100 futures down, Stocktwits reports.

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what happened

US stock futures moved in different directions after the Federal Reserve left its target range at 3.75%-4.00% at its October meeting. According to Stocktwits, the decision passed 10-2 and was broadly in line with market expectations. Dow futures rose 0.32%, S&P 500 futures fell 0.50%, and Nasdaq-100 futures dropped 1.60%.

The central bank said inflation remains elevated and pledged a timely return to its 2% goal. Opinions among economists are split: DoubleLine Capital CEO Jeffrey Gundlach argues for a rate hike, while others back waiting. Alphabet shares slid nearly 10% in extended trading after its quarterly report, as adjusted earnings per share and revenue missed forecasts, free cash flow was negative, and the full-year capex outlook stands at $195 billion to $205 billion.

On the geopolitical front, Iran and the US give conflicting accounts of peace talks. Brent crude traded near $114.35 a barrel, down almost 1%, while the 10-year Treasury yield stood at 4.984%.

why it matters

For markets, the key question is whether the Fed keeps its hawkish tone with inflation above target and energy prices high. Long-term bond yields and oil prices will shape how investors value equities, especially tech, where the Alphabet report and weak ServiceNow results have already hit sentiment.

market impact

US indices and Alphabet shares: the Fed pause and weak report pressure futures

  • Nasdaq-100 futures pressure down — weak Alphabet results and falling large AI stocks drag the index lower
  • Brent mixed — uncertainty over Iran peace talks both supports and undermines the price

tags

EarningsEconomyGDPLaborMonetary PolicyInflationStockUnited States

instruments

S&P 500 futuresNasdaq-100 futuresDow futuresBrentUS 10-year TreasuryAlphabet

sources

  1. Dow, S&P 500, Nasdaq Futures Mixed After Fed Holds Rates Steady: GOOG, GOOGL, IOVA, MSFT, NOW In Focus — Stocktwits, 29 October 2026 at 02:59 UTC

prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.

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