Stock Market Week Ahead · October 26–30, 2026
What to watch in the stock market this week.
The Fed announces its rate decision Wednesday at 2:00 pm ET, and Microsoft and Alphabet report a couple of hours later. Amazon follows Thursday after the close, the same day as Q3 GDP and September PCE inflation. It all lands one week after Meta’s results triggered the Nasdaq’s worst day since June, so Big Tech’s AI-spending commentary is the week’s main test.
By Konsta · Published October 25, 2026
Last week
Stock market weekly recap: October 19–23
- SPY · S&P 500
- $759.97−0.4%
- QQQ · Nasdaq 100
- $704.40−0.8%
- IWM · Russell 2000
- $275.75+2.0%
Weekly change, Friday Oct 16 close to Friday Oct 23 close. Closes from Nasdaq.com.
Thursday’s tech selloff. The Nasdaq Composite fell 2.6% on October 22, its worst day since June. Meta beat expectations but dropped about 7% after reporting heavy AI spending and its first cash outflow in more than a decade, and the Philadelphia Semiconductor Index fell 6.7%. QQQ lost 2.9% that day.
Rates and oil in the way. The 10-year Treasury yield briefly rose above 5% and oil hit a five-month high the same day, adding pressure on richly valued growth stocks.
Small caps held up. IWM finished the week up 2.0% while QQQ fell 0.8%: money rotated away from mega-cap tech rather than out of stocks altogether.
Economic calendar this week
The dates that move markets.
Times are US Eastern. Senntric alerts you and reads each release aloud the moment it prints.
Wednesday, Oct 28
2:00 pm ET
Fed rate decision (FOMC)
Statement at 2:00 pm; the press conference usually starts at 2:30 pm. Source: Federal Reserve.
Thursday, Oct 29
8:30 am ET
Q3 GDP, advance estimate
The first read on third-quarter growth. Source: BEA.
Thursday, Oct 29
8:30 am ET
Personal income and outlays (PCE inflation), September
The Fed’s preferred inflation gauge, released the morning after its decision. Source: BEA.
Friday, Oct 30
8:30 am ET
Employment Cost Index, Q3
Wage and benefit costs, watched for inflation pressure. Source: BLS.
Earnings this week
Who reports, and when.
| Day | Before the open | After the close |
|---|---|---|
| Monday, Oct 26 |
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| Tuesday, Oct 27 |
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| Wednesday, Oct 28 |
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| Thursday, Oct 29 |
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| Friday, Oct 30 |
| — |
Dates and timing from Nasdaq’s earnings calendar on October 25, 2026. Companies can move their dates; check the calendar on the day.
Why stocks can fall even after beating estimates: guidance, expectations and the reaction window.
- Spot
- $759.93
- Put wall
- 760
- Call wall
- 770
- Magnet
- 780
- Regime
- Acceleration (net GEX about −$7.5B)
Senntric GEX, 1–7 day expirations, after the October 23 close.
SPY closed the week sitting on its largest put-side gamma strike in a negative-gamma regime. Holding 760 keeps that structure intact; a clean break below is where hedging can speed up selling. A recovery has the 770 call wall to clear first. This snapshot predates the week’s expirations, so check the live levels before trading.
What to watch
4 questions for the week.
Does Big Tech’s AI spending reassure or repeat Meta?
Microsoft and Alphabet on Wednesday and Amazon on Thursday will all be judged on capex and cloud growth after Meta’s reaction. Their after-hours moves will set the tone for QQQ.
Can SPY hold the 760 put wall?
In an acceleration regime, a clean break below the largest put-side strike can extend a move. Holding it keeps the range toward 770 in play.
What does the Fed say about growth and inflation?
The decision comes the day before GDP and PCE, so the press conference sets expectations for Thursday’s data, with the 10-year yield near 5%.
Do small caps keep outperforming?
IWM’s 2.0% gain against QQQ’s loss last week was a rotation signal. Another week of it would confirm money moving out of mega-cap tech rather than out of stocks.
Trading from Europe? The US open is an hour earlier this week
The UK and Europe moved their clocks back on Sunday, October 25; the US doesn’t until Sunday, November 1. Until then the US open at 9:30 am ET is 1:30 pm in London (not 2:30 pm), and 8:30 am ET data lands at 12:30 pm London time.
This week’s questions
Stock market this week FAQ
When is the Fed decision this week?
The Federal Reserve announces its rate decision on Wednesday, October 28, 2026, at 2:00 pm ET, with the press conference usually starting at 2:30 pm ET.
When do Microsoft, Alphabet and Amazon report earnings?
Microsoft and Alphabet report on Wednesday, October 28, after the market close. Amazon reports on Thursday, October 29, after the close. Results usually arrive between 4:00 and 4:30 pm ET.
When is GDP and PCE inflation data released this week?
The advance estimate of third-quarter GDP and September personal income and outlays, which includes PCE inflation, are both released on Thursday, October 29, 2026, at 8:30 am ET.
Why did the Nasdaq fall on October 22?
The Nasdaq Composite dropped 2.6%, its worst day since June, as worries about AI spending returned. Meta beat expectations but fell about 7% after reporting heavy AI spending, chip stocks slid, and the 10-year Treasury yield briefly topped 5%.
Trade the week with context
Every release and earnings print, the moment it lands.
Real-time news, audio squawk, earnings, live SPY and QQQ gamma levels and Sena, the AI trading agent, in one workspace.