Finance Evening | October 27, 2026

📊 Today's North American Markets

1. Nasdaq Jumps Over 1% as Fed Meeting Opens

Source: Investor's Business Daily

US stocks closed mixed on Tuesday, with the Nasdaq Composite the clear leader. The Dow Jones Industrial Average squeezed out a gain of just 16 points, essentially flat, while the S&P 500 reclaimed a key technical level as Tesla and growth stocks rallied. The Federal Reserve's two-day policy meeting kicked off the same day, with markets waiting for Wednesday's rate decision.

On the stock level, Broadcom made a bullish move and one banking name was flagged as offering an entry, while oil refiners fell sharply. After the bell, Cheesecake Factory and Seagate both slid. According to the original report, the market's next focus is the Fed, plus earnings due from Microsoft and Google.

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2. Fed Set to Announce Wednesday, Market Bets on a Hold

Source: Fox Business

The Federal Reserve will announce its latest rate decision on Wednesday, less than a week before the midterm elections. The report notes that policymakers say they avoid letting politics influence monetary policy and can be hesitant to hike or cut at meetings held ahead of an election. Inflation remains stubborn: September CPI rose 0.6% month over month and 3.7% year over year, well above the Fed's 2% target.

The CME FedWatch tool shows a 90.6% probability that rates stay unchanged this week at the current 3.75%-4% target range, up from 84.5% a week ago and 35.8% a month ago. For the mid-December meeting, the tool shows a 75.1% probability of a 25-basis-point hike.

Heather Long, chief economist at Navy Federal Credit Union, told Fox Business that the hotter-than-expected September inflation data did raise the odds of an October hike, but the bar is high with an election a week away. "Right now, this data indicates that the Fed needs to act again, but it's not a five-alarm fire. They don't have to act immediately, they could wait until December," she said.

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3. Microsoft Reports Wednesday; Wall Street Watches Azure Growth

Source: Yahoo Finance

Microsoft will report fiscal first-quarter results after the bell on Wednesday, giving the market a clearer view of demand for AI apps and services. The report notes the release comes just two days after Microsoft said it is offering buyouts to upward of 60,000 eligible employees as it looks to cut expenses amid its massive AI build-out.

Q1 is also the first report under Microsoft's new segment structure. The old three segments give way to two: "Agents and Infra," which includes Azure, Microsoft 365 cloud services, productivity and server licensing and industry solutions; and "Devices and Consumer," which includes search and advertising, Xbox, and Windows OEM and devices.

Analysts surveyed by Bloomberg expect EPS of $4.27 on revenue of $90.6 billion, versus $4.13 and $77.6 billion a year earlier. Agents and Infra revenue is expected to climb 22.5% to $75.6 billion, with Azure at $32.2 billion and Microsoft 365 at $27.4 billion; Devices and Consumer sales are projected to fall 6% to $15 billion. Capital expenditures including leases are seen topping $45.9 billion, up from $19.3 billion a year ago, while remaining performance obligations are expected at $705.6 billion, up 77%.

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4. Google Reports Q3 Wednesday, With AI Growth and Meta Muse Risk in Focus

Source: Yahoo Finance

Google will report third-quarter results after the bell on Wednesday. Per the report, Wall Street is bracing for a deluge of information about the health of the AI trade, with investors vacillating between concern and exuberance. Those fears came into focus last week when traders dumped CoreWeave shares over questions about its huge debt load, sending large swaths of the market lower.

Analysts expect Google to report EPS of $3.01 on revenue of $127.8 billion, with revenue excluding traffic acquisition costs at $111.2 billion. Advertising is projected at $83.5 billion, while the cloud unit could see revenue jump 91% to $28.9 billion. The report also notes Google could book significant revenue from selling its custom TPUs to third parties, as investors weigh the competitive risk from Meta's Muse AI.

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5. Anthropic's Mega-IPO: Seven Founders Hold Majority Control

Source: Yahoo Finance

In the first mega IPO of 2026, SpaceX named one person as the shot caller in its prospectus: Elon Musk. The next big IPO of the year - Anthropic, which could be the largest of all time - is run more by a committee of founders. "I would say having seven founders working together can make it where it's not just like a cult of Elon Musk," veteran dealmaker Jim Neeson said on Yahoo Finance's Sozzi Unleashed. "You actually have it where you have a consortium of people making decisions, which I actually think can be a good thing."

Anthropic is a public benefit company whose seven founders collectively own 50.1%. They are CEO Dario Amodei, president Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish and Chris Olah, who left OpenAI to start Anthropic in January 2021. The IPO will issue new Class F common stock to the seven co-founders, giving them majority control.

The prospectus showed first-half 2026 revenue surging to $16.3 billion from $1.1 billion a year earlier, alongside an $80.7 billion first-half net loss. On an adjusted basis, Anthropic posted $1.62 billion in operating income for the six months, versus a $1.85 billion loss a year earlier. Investment bankers are reportedly aiming for a listing valuation of roughly $1.5 trillion to $2 trillion; the company plans to list on Nasdaq under the ticker ANT and could debut before the end of November.

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6. Honda Warns 50% Canada Auto Tariffs Would Be 'Catastrophic'

Source: CNBC

Jennifer Thomas, senior vice president of corporate affairs at American Honda Motor, warned Tuesday at a Reuters automotive conference in Detroit that the industry faces a "catastrophic" scenario if the US and Canada cannot reach a new trade deal by the end of this year. President Donald Trump has threatened to double tariffs on Canadian vehicles and parts from 25% to 50% on Jan. 1 absent a deal.

"That really would be catastrophic for the entire industry," Thomas said. She said the countries should ideally include Mexico and reach a trilateral deal like the USMCA; trade associations representing Honda and every major player in the US auto industry have pushed for that broader accord and against bilateral arrangements.

The comments come after US Trade Representative Jamieson Greer said the US would not automatically extend the USMCA, moving the pact into an annual review process instead of a 16-year trilateral extension. Thomas said she is "cautiously optimistic" cooler heads prevail, citing reports that the two countries have reestablished trade talks, including easing levies on critical materials such as aluminum. "Our message has been clear: We need that trilateral agreement to stay in place in order for the U.S. industry to be competitive," she said.

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7. GM to Move Its Stock Listing From NYSE to Nasdaq

Source: Fox Business

General Motors announced Tuesday that it will transfer its stock listing from the New York Stock Exchange to Nasdaq next month, a move the Detroit automaker said reflects its growing focus on technology and innovation. Shares are expected to begin trading on the Nasdaq Global Select Market on Nov. 17 under the existing "GM" ticker; they will remain on the NYSE through the close on Nov. 16.

"GM's customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow," CFO Paul Jacobson said in a statement. "We're grateful for our long-standing partnership with the New York Stock Exchange and its remarkable legacy."

GM operates the Chevrolet, Buick, GMC and Cadillac brands and has increasingly emphasized advanced vehicle technology as part of its long-term growth strategy. The transfer could make GM eligible for inclusion in the Nasdaq-100 Index, though inclusion is not guaranteed. Existing shareholders need not take any action, and the company announced no changes to business operations tied to the move.

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8. Robinhood Falls After Q3 as Crypto Revenue Halves

Source: CNBC

Robinhood shares fell about 4% in after-hours trading after weaker-than-expected third-quarter earnings, even as options trading and prediction markets grew. Net income fell to $468 million, or 51 cents per share, from $556 million, or 61 cents a year earlier; revenue rose 12% from $1.27 billion a year ago.

Transaction-based revenue of $867 million came in below the $879 million StreetAccount estimate, putting the focus on whether Robinhood can sustain momentum and reduce reliance on volatile market activity. Transaction revenue rose 19% year over year, driven primarily by a more than 500% jump in event contracts revenue. Options revenue grew 31% to $399 million and equities revenue rose 41% to $121 million, partly offset by crypto revenue falling 55% to $120 million.

CFO Shiv Verma told CNBC that event contracts on crypto movements did well in the quarter, giving investors another way to express a view on crypto despite the slump in prices and spot trading. Net deposits totaled $15.7 billion for the quarter, a 17% annualized growth rate, and $71 billion over the past year, representing 21% growth versus platform assets at the end of Q3 2025.

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9. FTC and 20 States Sue Dollar General Over Alleged Overcharging

Source: Fox Business

The Federal Trade Commission and 20 states filed a lawsuit Monday against Dollar General over alleged deceptive pricing practices. They claim the retailer, over a period of years, repeatedly mislabeled prices, overcharged consumers and failed to correct the issue despite corporate knowledge of the problem. Dollar General disputes the claims.

"Dollar General has betrayed the trust of millions of American consumers and imposed significant financial harm on communities and consumers who are already struggling to make their paychecks last," said Christopher Mufarrige, director of the FTC's Bureau of Consumer Protection. The complaint says thousands of stores extracted millions of dollars in unlawful overcharges from vulnerable shoppers with insufficient safeguards, and that the company received tens of thousands of complaints from consumers saying it did not honor advertised prices.

The states joining include Alabama, Arizona, Arkansas, California, Connecticut, Florida, Illinois, Iowa, Kansas, Louisiana, Michigan, Mississippi, Nebraska, New Jersey, North Carolina, Ohio, Oklahoma, Tennessee, Utah and Wisconsin. Dollar General said the suit suggests it abandoned its mission and willfully disregarded customers' affordability needs: "Nothing could be further from the truth." It said its goal is 100% accuracy between shelf and register prices, and that store teams are expected to make things right when discrepancies occur.

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10. AT&T's $177 Million Breach Settlement Approved; Payouts Up to $5,000

Source: Yahoo Finance

AT&T customers affected by two 2024 cybersecurity breaches could start receiving payments soon, after a federal judge granted final approval earlier this month to a $177 million class action settlement. The lawsuit alleged AT&T failed to implement adequate cybersecurity measures to protect customer information after the 2024 breaches; the company denies any wrongdoing.

The two incidents: on March 30, 2024, AT&T said a data set released on the dark web contained customer information; on July 12, 2024, it announced a second breach in which limited data was illegally downloaded from an AT&T workspace on a third-party cloud platform. The US District Court for the Northern District of Texas approved the deal on Oct. 2, and absent an appeal the settlement's effective date is estimated at Nov. 12.

The claim deadline has passed (Dec. 18, 2025); customers who filed on time can check TelecomDataSettlement.com. Members in the first settlement class with a documented loss occurring in 2019 or later are eligible for up to $5,000, while those in the second class for losses on or after April 14, 2024 may receive up to $2,500. Payments must be distributed electronically or by check within 60 days of the effective date.

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