US Stock Market Today: Dow, Nasdaq, S&P 500 Hit Record High as Federal Reserve Begins Policy Meeting — Key Highlights
US stock market hits record highs on October 28, 2025, as the Federal Reserve begins its policy meeting. Check key updates on Dow Jones, Nasdaq, and S&P 500 performance.
US Stock Market Today: Dow, Nasdaq, S&P 500 Hit Record High as Fed Policy Meeting Begins
The US stock market soared on Tuesday, October 28, 2025, as major Wall Street indices — the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 — all touched fresh record highs. The rally came as investors awaited key decisions from the Federal Reserve’s two-day policy meeting, which began earlier in the day.
Market participants are closely monitoring the outcome of the Federal Open Market Committee (FOMC) meeting, with the Fed expected to provide clarity on its future rate-cut strategy when it concludes on Wednesday, October 29.
In its September policy announcement, the US Federal Reserve implemented its first interest rate cut since President Donald Trump assumed office in January 2025, lowering rates by 25 basis points to the 4.00%–4.25% range. The central bank had emphasized a data-driven approach for additional cuts through 2025.
US Inflation Snapshot
Recent data from the US Consumer Price Index (CPI) revealed that annual inflation rose to 3.0% in September 2025, up from 2.9% in August 2025. Monthly price growth slowed slightly, with consumer prices increasing 0.3% in September compared to 0.4% in August.
Dow Jones Today
The Dow Jones Industrial Average opened 0.44% higher at 47,752.35 points, up from its previous close of 47,544.59 points. As of 11:10 a.m. EDT, it was trading 0.53% higher at 47,794.77 points, according to Marketwatch data.
Top gainers included Sherwin-Williams Co., Microsoft Corp., IBM, Coca-Cola Inc., Salesforce Inc., Procter & Gamble Co., and Boeing Co.
Major laggards were Nike Inc., Johnson & Johnson, Merck & Co. Inc., Walmart Inc., 3M Co., and Honeywell International Inc.
Nasdaq Today
The Nasdaq Composite Index opened 0.55% higher at 23,766.46 points, compared to 23,637.46 in the previous session. By 11:29 a.m. EDT, it was up 0.32% at 23,712.57 points.
Among the biggest gainers were VSee Health Inc., TEN Holdings Inc., Pulmonx Corp., Founder Group Ltd., J-Star Holdings Co. Ltd., and CN Healthy Food Tech Group Corp.
Top laggards included Smart Digital Group Ltd., Co-Diagnostics Inc., Adaptimmune Therapeutics Plc ADR, SMX (Security Matters) Plc, and Aditxt Inc.
S&P 500 Today
The S&P 500 Index rose 0.33% to open at 6,897.74 points, up from 6,875.16 points at the previous close. However, it slipped 0.01% lower to 6,874.34 points as of 11:35 a.m. EDT.
Top gainers on the S&P 500 included Skyworks Solutions Inc., PayPal Holdings, UPS Inc., Regeneron Pharmaceuticals Inc., and Nucor Corp.
The biggest losers were Alexandria Real Estate Equities Inc., Zebra Technologies Corp., Everest Group Ltd., F5 Inc., Royal Caribbean Group, and Seagate Technology Holdings Plc.
What’s Next?
With markets already at record highs, investors are awaiting the Fed’s policy announcement on Wednesday, which will likely shape Wall Street’s trajectory heading into November. Analysts expect signals on whether the Fed will continue its rate-cut path amid moderate inflation and strong corporate earnings.
