TASI Climbs 2.3% to Near 10,000 and Qatar Has Its Best Day Since April as Gulf Rally Extends; Nasdaq Gains 1.2% on Chips Ahead of Today’s Fed Decision - Modern Money Experts

TASI Climbs 2.3% to Near 10,000 and Qatar Has Its Best Day Since April as Gulf Rally Extends; Nasdaq Gains 1.2% on Chips Ahead of Today’s Fed Decision

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TASI Climbs 2.3% to Near 10,000 and Qatar Has Its Best Day Since April as Gulf Rally Extends; Nasdaq Gains 1.2% on Chips Ahead of Today’s Fed Decision

Takeaway: On Wednesday 28 October 2026 (Asia/Dubai), markets head into the Fed’s decision with the AI and Gulf rebounds still running. On Tuesday TASI rose 2.30% to 9,986.45, just 13.55 points short of 10,000, on turnover of about SAR 7.16bn. Qatar jumped 3.37% to 9,150.83, its best session since April, while Dubai gained 1.96% and Kuwait’s All-Share rose 0.66%. On Wall Street, the Dow edged up 0.03% to 52,377.57, the S&P 500 rose 0.60% to 7,722.60 and the Nasdaq gained 1.18% to 26,477.81 as chipmakers rallied again. Brent settled 1.67% lower at $113.88 on Middle East diplomacy, but was back near $115 in Asian trade on Wednesday. The Fed decision is due at 22:00 Asia/Dubai, with Alphabet and Microsoft reporting after the US close.

What happened

1) US equities on Tuesday: chips lead for a second day

  • Tuesday 27 October 2026 close (CNBC): Dow 52,377.57 (+15.99 / +0.03%), S&P 500 7,722.60 (+45.83 / +0.60%), Nasdaq Composite 26,477.81 (+308.43 / +1.18%). It was a second straight gain for the S&P 500 (CNBC).
  • Broadcom rose about 4% after a group of banks and Blackstone announced $63 billion in financing for the purchase of Broadcom technology for Anthropic. AMD gained 5% and Micron almost 3% (CNBC). Before the open, Nvidia said it will invest $3 billion in Meta, which plans to raise up to $95 billion for AI infrastructure (CNBC).
  • Earnings movers (CNBC): UPS rose more than 5% after beating estimates and raising its full-year revenue outlook to about $92.6 billion. JetBlue jumped 19% on its fourth-quarter margin outlook despite a wider loss. Coca-Cola raised its full-year outlook for a third straight quarter, though demand in its home market was soft. Boeing posted revenue of $24.19 billion, above estimates, but a wider-than-expected adjusted loss of 34 cents a share. SoFi rose more than 13% in early trade after beating and raising guidance.
  • After the close (CNBC): Visa slipped about 2% even though adjusted earnings and revenue beat estimates; Robinhood fell almost 5% with average revenue per user slightly below forecasts; Seagate sank 6% despite a beat and stronger guidance; NXP Semiconductors fell 9% on an in-line outlook.
  • US data (CNBC): September durable goods orders rose 1.8% (forecast 1.7%); the Conference Board’s consumer confidence index rose to 91.7 in October (forecast 81.0) as gasoline prices eased; new home sales came in at 676,000, above the 653,000 forecast.

2) Yields, the Fed and gold

  • The 10-year Treasury yield rose less than 1 basis point to about 4.995% on Tuesday, and the 2-year rose more than 2 basis points to about 4.737% (CNBC). In Asian trade on Wednesday the 10-year was near 5.02% (Bloomberg).
  • The Fed decision is due today at 2:00 p.m. ET (22:00 Asia/Dubai), followed by Chair Kevin Warsh’s press conference. The current target range is 3.75%–4.00% after September’s quarter-point hike. The CME FedWatch tool showed a nearly 93% chance of a hold this week (CNBC), but more than 80% odds of a hike in December (CNBC; Reuters). September consumer inflation was 3.7% year on year (CNBC).
  • Gold (COMEX front month) settled 0.91% higher at $4,058.80 an ounce on Tuesday as lower oil prices eased inflation worries (Dow Jones Market Data; Reuters via CNBC). In Asian trade on Wednesday, spot gold eased about 0.4% to around $4,042 (Bloomberg).

3) Oil: down on diplomacy, then back up

  • Tuesday settlement (Reuters; CNBC): Brent $113.88 (−$1.93 / −1.67%) and WTI $99.90 (−$1.86 / −1.83%), a second straight daily decline, as traders focused on regional peace efforts after Monday’s talks in Tehran. Prices remain near six-month highs (Reuters).
  • Risks have not gone away: the Saudi-led coalition in Yemen said it intercepted Houthi missiles and drones, and the Houthis later claimed an attack on the Ras Tanura refinery (Reuters). Reuters sources also said OPEC+ is likely to keep its December output targets unchanged at Sunday’s meeting.
  • Wednesday in Asia: Brent rose about 1.4% to around $115.40 and WTI about 1.5% to $101.35, after the Wall Street Journal reported that the US told several Gulf countries to prepare for a short, intense military campaign after the midterm elections (Bloomberg).

4) Gulf equities: Tuesday 27 October

  • TASI 9,986.45 (+224.67 / +2.30%), a second straight gain, with 237 stocks up and 30 down on turnover of about SAR 7.16bn (Arab News; Saudi Exchange). Al Rajhi Bank rose 2.8% and Aramco 1.7%; First Milling jumped 9.9% after a sharp rise in quarterly profit (Reuters). BinDawood led gainers, up 10% at SAR 4.40 (Arab News). The parallel market Nomu rose 1.54% to 21,537.38 (Arab News).
  • Qatar (QE) 9,150.83 (+298.54 / +3.37%), its best session since April, with Qatar National Bank up 3.1% (Reuters; exchange data via Mubasher). Turnover nearly doubled to close to QR1bn (Mubasher; Argaam).
  • Kuwait All-Share 8,549.23 (+56.43 / +0.66%); the Premier Market rose 0.86% to 9,016.53, while the Main Market fell 0.30% to 8,438.14. Value traded was KD88.9m (KUNA via Khaligyoun).
  • UAE: Dubai’s index rose 1.96% to 5,864.43, led by Emaar Properties (+3.4%); Abu Dhabi gained 1.09% to 9,745.80, with Abu Dhabi Islamic Bank up 5.7% (Reuters; Al Khaleej). DIP Holding, owner of Dubai Investments Park, is seeking to raise up to $543 million in an IPO (Reuters). Oman: the MSX 30 eased 0.1% to about 7,348 (Reuters).

5) Asia and futures: Wednesday morning

  • South Korea’s Kospi jumped about 6.6% after SK Hynix reported a roughly sevenfold rise in profit and plans to return about $45 billion more to shareholders; SK Hynix rose 10% and Samsung Electronics 9.5%. The MSCI Asia Pacific index gained 1.3% (Bloomberg).
  • Nasdaq 100 futures rose about 0.4%, while S&P 500 futures were little changed (Bloomberg).

Why it matters for Gulf + US-focused Arab traders

  • Two strong days in the Gulf, but the risk is still live: TASI has gained more than 5.8% in two sessions on diplomacy hopes, yet oil rebounded in Asia on new reports of possible US military action. The Gulf rally depends on headlines that can change quickly.
  • Today’s Fed decision is about tone, not the rate: a hold is widely expected, so attention turns to the statement and to what Warsh says about a December hike. With the 10-year yield near 5%, any hawkish signal matters for valuations everywhere.
  • Big Tech results arrive the same evening: Alphabet and Microsoft report after the close. After a chip-led rebound, their spending plans and cloud growth will test whether the AI rally has support beyond funding headlines.

Today’s calendar and the rest of the week

  • Wednesday 28 October: Fed decision at 22:00 Asia/Dubai, followed by Chair Warsh’s press conference; Alphabet and Microsoft report after the US close (CNBC; Bloomberg). The UK Autumn Budget is also due (CNBC).
  • Thursday 29 October: European Central Bank decision; US PCE inflation data; Amazon reports after the close (CNBC; Bloomberg).
  • Friday 30 October: Bank of Japan decision (Bloomberg).
  • Sunday 1 November: OPEC+ meeting, expected to keep December output targets unchanged (Reuters).
  • Gulf: watch whether TASI can close above 10,000 and how markets react to the overnight oil rebound and the Fed.

Short educational angle: how to read a Fed decision day

A Fed day has three parts, and each one can move markets differently. First comes the rate decision itself at 22:00 Asia/Dubai. When a hold is almost fully priced, as today, the decision alone rarely surprises. Second is the statement: traders compare it word by word with the previous one, because small changes in how the Fed describes inflation or the labour market can hint at the next move. Dissenting votes are also listed there. Third is the press conference about 30 minutes later, where the Chair’s answers can confirm or soften the statement’s message. The dot plot, which shows each official’s rate projections, is published only four times a year (March, June, September and December), so there is no new one today; September’s projections pointed to one more hike this year. A useful habit is to note where yields, the dollar and gold stand before 22:00 and compare them after the statement and again after the press conference. This is educational framing only, not a forecast or a recommendation on any trade.

Sources

  1. CNBC — Stock market today (live updates), 27 Oct 2026. cnbc.com
  2. CNBC — Stocks making the biggest moves premarket: PayPal, Corning, UPS, Coca-Cola, 27 Oct 2026. cnbc.com
  3. CNBC — Stocks making the biggest moves after hours: Visa, Robinhood, NXP, Seagate, 27 Oct 2026. cnbc.com
  4. CNBC — US Treasury yields as the Fed meeting gets underway, 27 Oct 2026. cnbc.com
  5. CNBC — Fed expected to hold rates steady, but Warsh may point way to more hikes, 27 Oct 2026. cnbc.com
  6. Reuters via CNBC — Gold gains on softer oil prices ahead of Fed meeting, 27 Oct 2026. cnbc.com
  7. Dow Jones via Morningstar — Comex gold settles 0.91% higher at $4,058.80, 27 Oct 2026. morningstar.com
  8. Reuters via Investing.com — Oil falls almost $2 as Middle East talks help ease supply worries, 27 Oct 2026. investing.com
  9. CNBC — Oil prices fall for a second session, 27 Oct 2026. cnbc.com
  10. Reuters via Business Recorder — Most Gulf bourses advance as Saudi defence pact countries push for peace, 27 Oct 2026. brecorder.com
  11. Arab News — Closing Bell: Saudi stock market continues rising, gaining 2.3%, 27 Oct 2026. arabnews.com
  12. Argaam — TASI rises 2.3% to 9,986 pts, 27 Oct 2026. argaam.com
  13. Khaleej Business Insight (Mubasher data) — Qatar stocks jump 3.37%, 27 Oct 2026. khaleejbusinessinsight.com
  14. Khaleej Business Insight (Al Khaleej) — Dubai and Abu Dhabi close higher, 27 Oct 2026. khaleejbusinessinsight.com
  15. Khaligyoun (KUNA) — Boursa Kuwait close, 27 Oct 2026. khaligyoun.com
  16. Bloomberg via swissinfo.ch — Tech rally deepens on Hynix earnings, oil climbs: Markets Wrap, 28 Oct 2026. swissinfo.ch

Disclaimer: This article is for educational and informational purposes only and does not constitute investment advice, a trading recommendation, or financial advice. Trading and investing involve a substantial risk of loss. Past performance does not guarantee future results. Do your own research and consult a licensed adviser where appropriate. Modern Money Experts (MMEC) is an educational brand.

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