What Happened Today, Wednesday October 28, 2026, 5:00 PM ET close
Stocks Finish Mixed as Fed Inflation Talk Keeps Investors Cautious
The S&P 500 held steady, the Nasdaq 100 gave back a little, and Bitcoin ticked higher.
ES and NQ at the close
NQ, Nasdaq 100 futures
29,756.25
-0.19% on the day
Day range 29,674.25 to 30,178.00
ES, S&P 500 futures
7,760.75
+0.03% on the day
Day range 7,750.25 to 7,819.50
How did our Futures Trading Algo Do Today?
Discipline
No clean setup meant no trade, and staying flat was the right call.
Our automated paper book stayed flat today. No strategies fired on either Nasdaq 100 or S&P 500 futures because nothing met our entry rules, so there is no best or worst trade to report. Net result was zero trades and $0 in profit or loss.
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The story
U.S. stocks ended Wednesday close to where they started. S&P 500 futures finished at 7,760.75, up 0.03%, while Nasdaq 100 futures closed at 29,756.25, down 0.19%. The Nasdaq 100 had a much bigger day than the final number suggests, trading as high as 30,178.0 before sellers pulled it back near the lows. Investors were weighing a Federal Reserve chairman who sounded firm on inflation, and headlines about the conflict involving Iran stayed in the background.
The MAG7 and the megacaps
We do not have individual price moves for the biggest tech names in today's data, so we will not guess at them. What we can say is that the Nasdaq 100, which leans heavily on large technology companies, slipped 0.19% by the close after a strong early push higher. One company in the headlines was Micron, which CNBC said had a big rally, a sign that interest in chip related stocks was still alive even as the broader index cooled off.
After the bell
The Fed sounds tough on inflation
CNBC reported that the Fed chairman talked tough on inflation. When the central bank signals it is still worried about rising prices, investors tend to expect interest rates to stay higher for longer, which can weigh on growth heavy parts of the market like the Nasdaq 100.
Bond investor weighs in on the rate pause
Bond investor Jeff Gundlach spoke to CNBC about the Fed's rate pause and about Warsh reducing the number of vote setting meetings. The discussion kept attention on how the Fed makes decisions and what it could mean for borrowing costs.
Micron's big rally
CNBC highlighted what is behind Micron's big rally. Strength in a major chip company can lift confidence in technology stocks, though it was not enough to push the Nasdaq 100 into positive territory by the close.
Iran and global tensions
Reuters reported that an Iranian official sees only unacceptable ideas in the latest mediation effort to end the war, and that Israel's caretaker leadership could limit Netanyahu without ruling out war with Iran. Turkey also warned Russia and Ukraine against further attacks on Black Sea vessels. These stories add uncertainty that can keep investors from taking big risks.
Crypto
Bitcoin had a steady session. It closed at $81,121.18, up 0.39%, after trading between $80,330.34 and $81,568.69. That is a fairly narrow band for crypto, and it shows buyers were comfortable holding near the $81,000 area while stocks were mixed.
Into the night
Looking at the day's range, S&P 500 futures traded between 7,750.25 and 7,819.5, a spread of about 0.9%. Nasdaq 100 futures moved between 29,674.25 and 30,178.0, a spread of about 1.7%. Both closed well off their highs, with the Nasdaq 100 finishing only a little above its low of the day. That tells us early optimism faded as the session went on, even though the S&P 500 managed to end slightly positive.
What is coming next
S&P 500 futures support
7,750.25
Today's low and the first level to watch if sellers return.
S&P 500 futures resistance
7,819.5
Today's high, where buyers ran out of steam.
Nasdaq 100 futures support
29,674.25
Today's low, just below the close.
Nasdaq 100 futures resistance
30,178.0
Today's high and the level bulls need to reclaim.
These levels come straight from today's trading range and are reference points, not predictions. Investors will likely keep watching how the Fed talks about inflation and whether the Iran headlines change the mood. A move beyond either end of today's range would show which side has the upper hand. This recap is for education only and is not financial advice.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-10-28 session close; charts are live and interactive. Always verify before acting.