S&P 500 levels during the week of October 26, 2026, reflected volatility driven by third-quarter earnings from major technology firms and the Federal Reserve's October 28 policy decision. The index advanced from 7,676.77 on October 26 to a session high near 7,744 before closing October 29 at 7,720.39, amid mixed results that highlighted strong aggregate earnings growth exceeding 30% year-over-year yet concentrated in select names. Alphabet's revenue miss intensified concerns over AI capital expenditures, while broader beats and upward estimate revisions supported sentiment. The Fed held its target range steady at 3.75-4.00%, upgraded its economic assessment, and left markets pricing an elevated probability of a December hike as inflation metrics, including the preferred PCE gauge, remained elevated. Traders monitored these catalysts closely for implications on valuation multiples and rate expectations.