October 28: The Fed, Big Tech Earnings and What to Watch in Bitcoin, Stocks and Gold

By: WEEX|10/22/2026 08:38:00
The Federal Reserve meets on October 27–28. Microsoft and Alphabet have also scheduled earnings events for October 28, placing corporate updates after the Fed decision and press conference. That sequence offers a useful way to assess whether a market move reflects monetary policy, company performance or a combination of both.
 

TL;DR

  • Stocks: Compare earnings and guidance with expectations, then check whether the reaction spreads beyond the reporting company.
  • Bitcoin: Compare BTC’s reaction with equities and rate expectations before attributing the move to macro conditions.
  • Gold: Watch real yields and defensive demand, which can pull prices in different directions.
  • Timing: Treat the Fed statement, press conference, earnings releases and company calls as separate events.
 

What Are the Key Events for October 26–30?

 
October 28 is the central date in this selected watchlist. All times below are UTC.
Date
Time, UTC
Event
Confirmation and source
October 27–28, 2026
Two-day meeting
FOMC meeting
Dates listed in the official meeting calendar
October 28, 2026
18:00
Fed policy announcement
Scheduled in the October calendar
October 28, 2026
18:30
Fed press conference
Scheduled in the October calendar
October 28, 2026
After the regular equity session closes at 20:00
Microsoft earnings release
Exact publication time unspecified in the company announcement
October 28, 2026
Before the 20:30 earnings call
Alphabet earnings release
Exact publication time unspecified; see Alphabet Investor Relations
October 28, 2026
20:30
Alphabet earnings call
Scheduled on the official events page
October 28, 2026
21:30
Microsoft earnings call
Scheduled in the company announcement
Schedule checked on 07:23 October 22, 2026 (UTC).
 
The Fed’s external communications blackout runs from October 17 through October 29. It restricts certain public communications by policymakers and staff; the scheduled policy announcement and press conference still take place.
 
A market move immediately after the Fed announcement occurs before the scheduled company calls. Later moves may incorporate earnings information that was unavailable earlier in the session.
 

What Should Stock Traders Watch in Big Tech Earnings?

 
The central question is whether the results change expectations for future profits and cash flow.
 
Revenue and earnings describe the completed quarter. Guidance, demand commentary and investment plans help investors assess what may come next. Strong reported growth can therefore coexist with a negative stock reaction if the outlook falls short of expectations.
 
For Microsoft and Alphabet, useful areas to examine include:
  • Cloud demand: Is growth supported by sustained customer spending?
  • Profitability: Are margins improving as revenue expands?
  • Capital expenditure: How much investment is required to support growth?
  • Cash flow: Is operating performance translating into cash after investment?
  • Guidance: Has management changed its outlook, where one is provided?
 
Then compare the reporting stock with its sector and broader indices. A reaction concentrated in one company is more consistent with company-specific information. A wider move alongside changing bond yields suggests that macro conditions may also matter.
 

How Can the Fed and Tech Earnings Affect Bitcoin?

 
The Fed can influence Bitcoin through interest-rate expectations, financial conditions and appetite for risk. Technology earnings can affect it indirectly by changing sentiment toward growth and speculative assets.
 
These connections are variable. Bitcoin also responds to crypto-specific developments, flows and leveraged positioning.
 
To investigate a BTC move, compare:
Signal
Question to ask
Event timing
Did the move begin after the Fed statement, press conference or a company release?
Rate expectations
Did expectations for the future policy path change?
Equity breadth
Are broader stocks moving, or just a few technology names?
Crypto activity
Is there relevant crypto news or a change in derivatives positioning?
If BTC and equities move together as rate expectations reprice, a shared macro explanation becomes more plausible. If BTC moves alone, crypto-specific factors deserve closer attention.
 
Co-movement supports a hypothesis; it does not establish causation.
 

Why Can Gold React Differently From Stocks and Bitcoin?

 
Gold responds to interest-rate conditions and demand for defensive assets, so its reaction can differ from those of stocks and Bitcoin.
 
Because gold pays no interest, rising real yields can increase the opportunity cost of holding it. Falling real yields can reduce that cost. Real yields account for inflation expectations, making them more informative than nominal yields alone for this comparison.
 
Defensive demand can complicate the picture. Gold may attract buying when investors become more cautious, but it can also face selling when investors need liquidity.
 
Two questions help distinguish these forces:
  1. Are real yields moving in a direction consistent with gold’s reaction?
  2. Are wider indicators showing increased demand for protection against market risk?
 
Gold rising while equities weaken may be consistent with defensive demand. That explanation becomes more persuasive when other risk indicators support it.

How Can Traders Distinguish Earnings Moves From Fed Moves?

 
Start with the event sequence, then seek confirmation across markets. The following framework offers possible explanations rather than forecasts.
Observed patternPossible explanationWhat to verify
Stocks and BTC move after the Fed announcement, before company resultsInterest-rate expectations or broad risk appetite may be driving the movePolicy language, bond yields and the breadth of the equity reaction
A reporting stock moves while broader markets remain stableCompany-specific earnings information may dominateGuidance, margins, cash flow and management commentary
Gold rises while equities weakenDefensive demand may be contributingReal yields, implied volatility and credit conditions
BTC moves while stocks and rate expectations remain stableCrypto-specific factors may be more relevantCrypto news, trading activity and leveraged positioning
 
Three scenarios deserve particular attention during the week:
  • Earnings expectations improve. Look for stronger guidance or cash-flow prospects, followed by confirmation from related companies. A brief rally in one stock provides limited evidence of a wider improvement.
  • The expected rate path changes. Look for sustained repricing in rate expectations and yields after the policy announcement. An unchanged policy rate can still produce a meaningful reaction if the outlook changes.
  • Defensive demand increases. Look for broader equity weakness and corroborating stress indicators. Weakness confined to one company is insufficient to establish a market-wide shift.
 
Several scenarios can occur together. Strong company guidance could support technology shares while tighter financial conditions weigh on Bitcoin.

Following Crypto and TradFi With WEEX

This week’s calendar illustrates the value of following multiple asset categories: stocks provide information about earnings expectations, Bitcoin adds a crypto-market perspective, and gold offers another view of interest rates and defensive demand.
 
On WEEX, you can trade multiple TradFi offerings across stocks, ETFs, precious metals, energy, FX perpetual contracts and indices alongside crypto. Availability varies by region and account type.
 
One Account. All Markets.
 
Before trading, confirm how the chosen product provides exposure, its trading schedule and any funding or leverage provisions. Price exposure does not necessarily confer ownership of the underlying asset, and holding several asset categories does not automatically provide diversification.
 

About WEEX

Founded in 2018, WEEX is a global crypto and multi-asset trading platform serving over 10 million users from 170+ countries and regions. The platform offers a broad range of trading services, including cryptocurrency spot and derivatives trading, multi-asset products, and copy trading, with a focus on security, liquidity, and user experience. WEEX is also expanding its AI-powered trading capabilities and real-time market intelligence to help users navigate evolving markets. Its 1,000 BTC User Protection Fund underscores the platform’s commitment to user protection and asset transparency.
 

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