S&P 500 Futures Inch Higher Ahead of Fed Decision as Nasdaq Gains on SK Hynix Profit

S&P 500 futures rose roughly 0.1 percent in recent trading. Nasdaq 100 futures advanced about 0.4 to 0.5 percent. Dow futures were slightly lower. Asian markets had surged earlier, with South Korea’s Kospi climbing more than 6 percent after SK Hynix’s results. The chipmaker’s shares jumped more than 10 percent on the news. Fed Decision in Focus The Federal Reserve is widely expected to leave interest rates unchanged at its October 28 meeting. Markets priced in only a low single-digit probability of a rate increase, according to CME FedWatch data. The central bank raised rates by 25 basis points in September. Investors will watch Chair Kevin Warsh’s press conference for signals on the path of policy amid elevated inflation readings. The 10-year Treasury yield held above 5 percent ahead of the announcement. Oil prices also rose overnight, adding a note of caution. Attention later in the day turns to earnings from Microsoft and Alphabet, which could influence the technology sector’s recent recovery. SK Hynix Results Support Tech Sentiment SK Hynix reported third-quarter operating profit of 83.33 trillion won, more than seven times the year-earlier level, and revenue of 104.62 trillion won. Both figures set company records and exceeded consensus estimates. The results were driven by strong demand for AI-related memory chips, including high-bandwidth memory. The company also outlined approximately 100 trillion won in shareholder returns for the year. The earnings reinforced expectations that AI infrastructure spending remains robust. Gains in SK Hynix shares lifted related semiconductor and technology stocks in Asia and contributed to the rise in Nasdaq futures. Other memory and chip-related names, including Samsung Electronics, also advanced. Broader Market Context Technology stocks have led recent gains in major U.S. indexes. The S&P 500 and Nasdaq posted advances in the prior sessions. Investors continue to weigh AI-related capital expenditure against broader concerns about inflation, oil prices, and the pace of Federal Reserve policy. Futures trading reflected a modest positive bias in the broad market and a clearer lift in technology contracts. What to Watch The Federal Reserve’s rate decision and accompanying statement at 2 p.m. ET. Chair Warsh’s press conference for indications on future rate moves. Earnings reports and guidance from Microsoft and Alphabet after the close. Continued reaction in semiconductor and AI-related stocks following SK Hynix’s results. Movements in Treasury yields and oil prices. Any revisions to market expectations for the path of interest rates. S&P 500 futures inched higher and Nasdaq futures gained on October 28 ahead of the Federal Reserve’s interest-rate decision. SK Hynix’s record quarterly profit and the resulting strength in Asian technology shares supported the Nasdaq advance. Markets expect the Fed to hold rates steady, with attention also turning to major technology earnings later in the day. Digital8Hub will track the Fed announcement and market reaction.