Wait-and-See Ahead of Fed Decision as SK Hynix Surge Lifts Chip Stocks

黃黃郁婷 產業線記者2026-10-29 00:48

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Ahead of the Federal Reserve rate decision, U.S. stocks moved in a narrow range. SK Hynix surged on record quarterly profit in its U.S.-listed shares, lifting Micron and other chip stocks. Taiwan index futures in the night session edged up 9 points to 47258, with markets focused on Chair Warsh's remarks.

Countdown to Fed Decision, Market Expects No Change

The Federal Reserve's two-day monetary policy meeting is coming to an end, with a strong wait-and-see mood and major U.S. indexes in narrow fluctuation on Wednesday. The market widely expects the Federal Reserve to keep rates unchanged in the 3.75% to 4% target range. According to CME's FedWatch tool, the probability of keeping current rates unchanged is about 90%. The rate decision will be officially announced at 2 p.m. ET / 2 a.m. Taiwan time, with markets focused on Chair Warsh's post-meeting remarks, and some expecting he may signal further rate hikes in coming meetings.

GDS Wealth Management Chief Investment Officer Smith (Glen Smith) said he would frame Wednesday's meeting as an update rather than action, and the update will likely continue Chair Warsh's consistently hawkish stance. Ahead of the decision, investors were cautious and major indexes were flat. At press time, the Dow Jones Industrial Average rose 134.29 points or 0.26%, the S&P 500 rose 13.91 points or 0.18%, and the Nasdaq fell 12.98 points or 0.05%.

SK Hynix Hits Record, Lifts Chip Stocks

On individual stocks, South Korean chipmaker SK Hynix posted record quarterly profit, with its U.S.-listed shares jumping 9% and surging over 12% intraday, also pushing up U.S. chip stocks. Among them, Micron Technology rose 4%, Arm climbed 2%, Marvell Technology gained about 2%, and AMD rose nearly 1%. Driven by this, the Philadelphia Semiconductor Index rose 100.46 points or 0.87%. At press time, Apple fell $1.56 or 0.45%, Nvidia fell $0.79 or 0.36%, and TSMC ADR rose $1.83 or 0.42%.

Magnificent Seven Earnings Next, Taiwan Futures Edge Up in Night Session

After the close, market attention will remain on AI-related stocks, with Magnificent Seven members Alphabet and Microsoft set to report latest quarterly earnings. Intraday, Alphabet rose over 1%, while Microsoft was little changed. For Taiwan index futures in the night session, they were up slightly by 9 points or 0.02% at 47258, showing narrow consolidation ahead of the Fed decision.

FAQ

When will the Fed rate decision be announced? What is the market expectation?

The Fed rate decision will be announced at 2 p.m. ET / 2 a.m. Taiwan time. The market widely expects rates to stay unchanged at 3.75% to 4%, with CME FedWatch showing about a 90% chance of no change.

Why did SK Hynix lift chip stocks?

SK Hynix reported record quarterly profit, with its U.S.-listed shares jumping 9% and surging over 12% intraday, driving Micron up 4%, Arm up 2%, Marvell up about 2%, AMD up nearly 1%, and the Philadelphia Semiconductor Index up 0.87%.

What earnings are next in focus? How did Taiwan futures perform?

After the close the focus is on Alphabet and Microsoft quarterly earnings, with Alphabet up over 1% intraday and Microsoft little changed; Taiwan index futures in the night session were up slightly by 9 points or 0.02% at 47258.