US stock futures declined in early Asian trading on October 28, 2026, as investors reacted to mixed earnings reports from major technology companies and the Federal Reserve's decision to keep interest rates unchanged. The Nasdaq 100 futures dropped 0.9%, while S&P 500 contracts slipped 0.4%. The downturn was partly driven by Alphabet Inc.’s shares, which fell in late trading after the company reported disappointing results.
Microsoft Corp. bucked the trend, jumping after hours on the back of strong cloud sales. Oracle Corp. also saw a significant surge, with its shares rising 11% following a positive long-term outlook for free cash flow. The Federal Reserve’s decision to hold rates steady added to the uncertainty, as the central bank did not provide clear signals about the likelihood of a December rate hike.
In Asia, equity-index futures showed a mixed picture. Futures for Australia and South Korea pointed higher, while those for Japan declined. The market’s reaction underscored the cautious sentiment among investors as they navigated the mixed signals from both corporate earnings and central bank policy.