Update: Nasdaq, S&P 500 Notch Back-to-Back Gains Following Fresh Earnings Reports

04:53 PM EDT, 10/27/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The Nasdaq Composite and the S&P 500 rose for a second consecutive session Tuesday following the latest set of earnings reports, ahead of the Federal Reserve's decision on interest rates. The Nasdaq closed 1.2% higher at 26,477.81, while the S&P 500 advanced 0.6% to 7,722.60. The Dow Jones Industrial Average was little changed at 52,377.57. Among sectors, technology paced the gainers, while energy saw the steepest decline. Pentair (PNR) was the best performer on the S&P 500, up nearly 13%, after the company released its third-quarter results on Tuesday. Also among the S&P 500's notable gainers were Dell Technologies (DELL) and Super Micro Computer (SMCI). United Parcel Service (UPS) raised its full-year guidance, saying the outlook for holiday demand is strong. The stock advanced 5.8%. Boeing (BA) slumped nearly 11%, the worst performer on the Dow and the second-steepest drop on the S&P 500. The US planemaker's third-quarter loss narrowed less than projected as revenue in its commercial airplanes division unexpectedly declined amid a less favorable aircraft delivery mix and higher production and supply-chain costs. The Federal Open Market Committee kicked off its monetary policy meeting on Tuesday and is widely expected leave its benchmark lending rate unchanged on Wednesday. The anticipated pause would follow a 25-basis-point rate increase in September, the Fed's first hike in just over three years intended to tame inflation. Most Fed officials expected another rate hike by year-end, though they vowed to base their future policy decisions on fresh data, according to minutes from the central bank's September meeting, which were released earlier this month. "Of course, even if the Fed opts to hike again in December, a combined 50 (basis-point) increase will most likely prove insufficient to quell price pressures," Stifel said in a note Tuesday. "Again, given the years of elevated costs post-pandemic and the more recent upside risks to costs stemming from the conflict overseas sending energy costs alone up 37% in September from a year ago, it will most assuredly take a firm longer-run commitment and more than a couple of rate increases to tame inflation." The Fed's terminal interest rate could surpass its 2023-24 peak, especially if the artificial intelligence spending boom continues, TS Lombard said Tuesday. West Texas Intermediate crude oil was down 1.8% at $99.92 a barrel in Tuesday late-afternoon trade, while Brent dropped 1.6% to $113.98. However, both benchmarks remain on track for their fourth consecutive monthly advance. Iran's officials met with representatives from Saudi Arabia, Pakistan and Turkey on Monday. "A more sustained decline in prices would likely require credible signals from all sides that tensions are easing, alongside tangible progress towards restoring the free movement of oil and shipping through the Strait of Hormuz," Saxo Bank said in a report Tuesday. In economic news, US consumer confidence moved higher in October amid a pullback in gasoline prices, The Conference Board said. Treasury yields were higher, with the two-year rate up 2.4 basis points at 4.74% and the 10-year rate rising 0.9 basis points to 5%. Spot gold climbed 1.1% to $4,060.87 per troy ounce, while silver edged up 0.3% to $54.49 per ounce.