Markets update: USO leads as SPY, gold and dollar trade ahead of Fed
The USO ETF led gains, rising 2.83% to $168.51 while the SPY ETF, GLD ETF and UUP ETF traded mixed; the FOMC rate decision is scheduled for Wed Oct 28, 18:00 UTC.
Where prices stand
The USO ETF rose 2.83% from the prior close to $168.51; the SPY ETF rose 0.29% from the prior close to $771.88; the GLD ETF fell 0.48% from the prior close to $370.51; and the UUP ETF fell 0.10% from the prior close to $29.09. Times are as of Oct 28, 17:00 UTC (UUP as of Oct 28, 16:58 UTC). Market breadth showed 2 up and 2 down among 4 tracked instruments. Five-session changes: USO +13.10%, GLD -1.42%, SPY +0.08% and UUP +0.76%.
| Instrument | Last | 5-session change | Latest change | As of | Source |
|---|---|---|---|---|---|
| S&P 500 (via SPY ETF) | $771.88 | +0.08% | +0.29% | Oct 28, 17:00 UTC | Finnhub |
| US Dollar Index (via UUP ETF) | $29.09 | +0.76% | -0.10% | Oct 28, 16:58 UTC | Finnhub |
| Gold (via GLD ETF) | $370.51 | -1.42% | -0.48% | Oct 28, 17:00 UTC | Finnhub |
| WTI Crude Oil (via USO ETF) | $168.51 | +13.10% | +2.83% | Oct 28, 17:00 UTC | Finnhub |
Trend check
WTI Crude Oil is flagged as bullish with RSI(14) 62.5. Its close 107.89 is above the SMA50 94.53 and the longSma 86.42. These RSI and moving-average values are shown as reference points in the desk's trend signals, which record one bullish signal.
| Instrument | Close | SMA50 | Long SMA | RSI(14) | Trend status |
|---|---|---|---|---|---|
| WTI Crude Oil | 107.89 | 94.53 | 86.42 | 62.5 | bullish |
Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Oct 27, 22:41 UTC); it is not a recommendation.
In the news
Bank of England issued 'Remit for the Monetary Policy Committee - October 2026', a letter from the Chancellor to the Governor. Reuters reported 'Brazil's Flavio Bolsonaro arrives in US after election defeat.' CoinDesk published 'Dissent and more: 3 things to watch for at the Fed meeting' and 'Live updates: Bitcoin climbs above $81,000 as majors rally ahead of Fed decision'.
- Remit for the Monetary Policy Committee - October 2026 — Bank of England, Oct 28, 14:16 UTC
- Brazil's Flavio Bolsonaro arrives in US after election defeat — Reuters, Oct 28, 13:41 UTC
- Dissent and more: 3 things to watch for at the Fed meeting — CoinDesk, Oct 28, 11:57 UTC
- Live updates: Bitcoin climbs above $81,000 as majors rally ahead of Fed decision — CoinDesk, Oct 28, 11:23 UTC
What to watch
The FOMC rate decision is scheduled for Wed Oct 28, 18:00 UTC. GDP (BEA) is scheduled for Thu Oct 29 (time not confirmed), and Personal income and outlays / PCE (BEA) is scheduled for Thu Oct 29 (time not confirmed). The ECB monetary policy decision is scheduled for Thu Oct 29, 13:15 UTC. The Employment Cost Index is scheduled for Fri Oct 30, 12:30 UTC.
- Wed Oct 28, 18:00 UTC — FOMC rate decision (US) (source)
- Thu Oct 29 (time not confirmed) — GDP (BEA) (US) (source)
- Thu Oct 29 (time not confirmed) — Personal income and outlays / PCE (BEA) (US) (source)
- Thu Oct 29 (time not confirmed) — Weekly jobless claims (DOL) (US) (source)
- Thu Oct 29, 13:15 UTC — ECB monetary policy decision (EU) (source)
- Fri Oct 30, 12:30 UTC — Employment Cost Index (US) (source)
Sources and data
- Bank of England (primary source) — Remit for the Monetary Policy Committee - October 2026
- Reuters (secondary source) — Brazil's Flavio Bolsonaro arrives in US after election defeat
- CoinDesk (secondary source) — Dissent and more: 3 things to watch for at the Fed meeting
- Finnhub (market data) — market data
- U.S. Treasury and Federal Reserve Board via FRED (primary source) — Yields and dollar index
- Federal Reserve (primary source) — calendar
- U.S. Energy Information Administration via FRED (primary source) — calendar
- European Central Bank (euro reference rates) (primary source) — calendar
- U.S. Bureau of Labor Statistics (primary source) — calendar
Market data as of Oct 28, 17:00 UTC; report generated Oct 28, 17:10 UTC. All times are UTC. Each table row shows its own timestamp and provider.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.
Terms in this article
Gold (XAU)
A precious metal held as a store of value, a hedge against currency debasement and a safe haven, as well as used in jewellery and industry.
Exchange-traded fund (ETF)
A fund that trades on a stock exchange like a share, usually tracking an index, sector, commodity or strategy.
FOMC
The Federal Reserve committee that sets US monetary policy.
Price-to-earnings ratio (P/E)
Share price divided by earnings per share.
Market breadth
How many stocks are taking part in a market move — measured by advancing versus declining issues, new highs versus new lows, or the share of stocks above their moving averages.
Sources & data
- Bank of England (primary, retrieved Oct 28, 2026, 05:15 PM UTC)
- Reuters (secondary, retrieved Oct 28, 2026, 05:15 PM UTC)
- CoinDesk (secondary, retrieved Oct 28, 2026, 05:15 PM UTC)
- Finnhub (market-data, retrieved Oct 28, 2026, 05:15 PM UTC)
- U.S. Treasury and Federal Reserve Board via FRED (primary, retrieved Oct 28, 2026, 05:15 PM UTC)
- Federal Reserve (primary, retrieved Oct 28, 2026, 05:15 PM UTC)
- U.S. Energy Information Administration via FRED (primary, retrieved Oct 28, 2026, 05:15 PM UTC)
- European Central Bank (euro reference rates) (primary, retrieved Oct 28, 2026, 05:15 PM UTC)
- U.S. Bureau of Labor Statistics (primary, retrieved Oct 28, 2026, 05:15 PM UTC)
Market data as of Oct 28, 2026, 05:00 PM UTC.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.
Ask about this story
Questions are answered only from this article and the sources it cites.
MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.
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