Business Report: Chip Rally Lifts S&P 500 as Boeing Slides, Oct. 27, 2026

This business report for October 27, 2026 covers a Tuesday when chipmakers carried the S&P 500 higher for a second straight day, powered by a $63 billion financing package for Anthropic’s computing hardware. Boeing tumbled after pushing back a production increase, JetBlue staged a sharp rebound, and the Federal Reserve opened a two-day meeting that ends with a rate decision Wednesday afternoon.

The Deals: $63 Billion for Anthropic’s Chips, $4 Billion Into Meta

The biggest deal on the tape was announced Monday evening and traded on Tuesday. Bank of America, Blackstone, Citi and Morgan Stanley committed $63 billion to a newly formed special purpose vehicle that will buy Broadcom’s custom AI accelerators and networking gear and lease them to Anthropic, according to the companies’ joint release. Deliveries are scheduled to begin in calendar 2027. The three banks are arranging the senior, first-lien debt, while Blackstone is the sole provider of the committed second-lien piece. Broadcom is backstopping the lenders with what it calls residual value support. Its investor presentation puts peak exposure at $43 billion, shrinking to zero in a straight line over five years of lease payments. Broadcom shares rose 4% on the news.

A second AI financing landed the same day. Nvidia said it will put $3 billion into Meta’s new stock offering and AMD said it will invest $1 billion, for a combined $4 billion, CNBC reported. The checks are part of the $95 billion Meta announced Monday, beginning with $35 billion in underwritten share sales and followed by $60 billion through an at-the-market program. Nvidia said Meta will also expand its deployment of Nvidia’s Vera Rubin systems.

In a smaller but symbolic move, General Motors said it will move its stock listing from the New York Stock Exchange to Nasdaq, with trading there expected to start Nov. 17 under the same GM ticker, CNBC reported. The switch makes the automaker eligible for the Nasdaq-100 index and moves it off the exchange where GM first listed in 1911. “GM’s customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow,” Chief Financial Officer Paul Jacobson said. GM stock closed at $80.54, up 5%.

Markets: Chipmakers Lead as Oil Slips Below $100

The S&P 500 gained 0.6% to close at 7,722.60, and the Nasdaq Composite advanced 1.18% to 26,477.81. The Dow Jones Industrial Average barely moved, adding 15.99 points, or 0.03%, to 52,377.57, according to CNBC’s market coverage. Advanced Micro Devices climbed 5% and Micron added almost 3%. Steelmaker Nucor rose more than 6% after Chief Executive Leon Topalian told CNBC that steel demand, fed by data centers, pharmaceutical plants and natural gas, is stronger than at any point in his 31 years at the company.

“The light switch has been off for the last two weeks, and it looks like the first two days this week, the switch has been flipped up again,” said Jed Ellerbroek, a portfolio manager at Argent Capital Management, speaking about the tech rally.

Crude slid again. West Texas Intermediate futures settled down 1.83% at $99.90 a barrel, and Brent lost 1.67% to $113.88, after Iranian leaders discussed their conditions for ending the war. In bonds, the 10-year Treasury yield edged up to about 4.999% in late trading and the 2-year yield rose to 4.739%, based on CNBC market data. The U.S. Dollar Index gained 0.39% to 102.36, gold futures rose 0.87% to $4,073.70 an ounce, and bitcoin traded near $80,656.

Earnings: Boeing Sinks; UPS, Coca-Cola and JetBlue Rally

Boeing stock fell 10% after Chief Executive Kelly Ortberg said the company is now aiming to build 52 of its 737 Max jets a month in the second half of 2027, up from roughly 47 today, with slow wing production holding back the increase, CNBC reported. “I know everybody wants us to go faster, but we’re going to do it right,” Ortberg told the network. The third-quarter net loss narrowed to $116 million, from $5.34 billion a year earlier, on revenue of $24.19 billion, up 4%. The adjusted loss of 34 cents a share was wider than the 21 cents analysts expected. Defense revenue jumped 15% to $7.94 billion, while commercial airplane revenue fell 3% and that unit ran a negative operating margin of 6.5%.

UPS beat forecasts and raised its full-year outlook for the second quarter in a row, now projecting revenue of about $92.6 billion, up from $91.2 billion, according to CNBC. Adjusted earnings of $1.69 a share topped the $1.63 estimate on revenue of $22.9 billion, and the shares ended more than 5% higher. Coca-Cola lifted its forecast for the third straight quarter, now calling for comparable earnings per share to grow at least 11%, even as volume in North America was flat, CNBC reported. Coke shares dipped less than 1% in morning trading.

The Boston angle came from JetBlue. The airline’s stock jumped 19% on Tuesday, a day after hitting a new low, as investors focused on its forecast that unit revenue could rise as much as 22% in the fourth quarter, CNBC reported. Chief Executive Joanna Geraghty pushed back on talk of a restructuring. “We have no intention, no plans to file for bankruptcy,” she said on CNBC. JetBlue’s turnaround matters at Logan Airport, where it planned 122 daily flights in Massport’s fiscal 2026 schedule, second only to Delta’s 149, the Boston Globe reported. For more on the airport itself, see our look at Logan Airport’s building boom, and for Monday’s JetBlue results, our Oct. 26 business report.

Fed Decision Wednesday and a Data Center Backlash in Ohio

The Fed’s policy statement arrives Wednesday afternoon. In CNBC’s latest survey of 30 fund managers, strategists and economists, 93% expect the central bank to hold rates this week, while 76% expect a rate increase in December, CNBC reported. Respondents put the odds of a recession within a year at 26%, down from 29%, and named the Iran war and a possible AI bubble as the biggest risks. Our Fed meeting preview lays out what is at stake for Chair Warsh and his colleagues.

Consumers gave the Fed a mixed picture. The Conference Board’s confidence index rose 7.5 points to 91.7 in October, well above the 81 economists had forecast, as gasoline prices eased. Fergus McCormick, the board’s senior economist for global indicators, cautioned that confidence “remained on the long-term downward trend that’s persisted over the past few years.”

The American Prospect, meanwhile, reported on how the AI building boom is spilling into politics. In Ohio’s Senate race, the crypto industry’s super PAC Fairshake has now spent more than $55 million against former Sen. Sherrod Brown, who has made data centers and rising electric rates a campaign theme, the Prospect reported. Ohio has about 270 operating or planned data centers and is home to 21 of the 41 local data center measures on ballots nationwide on Nov. 3. A Bowling Green State University poll found that 75% of likely Ohio voters oppose new data centers in their own community.

Sources

• CNBC: Stock market today, Oct. 27, 2026 live updates
• Broadcom: Bank of America, Blackstone, Citi and Morgan Stanley announce $63 billion financing structure
• CNBC: Nvidia, AMD to invest $4 billion in Meta
• CNBC: GM will switch to Nasdaq from the NYSE on Nov. 17
• CNBC: Boeing won’t significantly ramp up 737 Max production until late 2027
• CNBC: UPS beats quarterly expectations, raises full-year guidance again
• CNBC: Coca-Cola hikes earnings outlook
• CNBC: JetBlue stock surges as company outlook calms investors
• The Boston Globe: JetBlue chief Geraghty sees clear skies ahead after turbulence
• CNBC: Fed rate hikes are coming, but not this week, CNBC survey
• The American Prospect: In Ohio, crypto revenge spending runs into a data center backlash
• CNBC: U.S. 10-year Treasury market data