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Stock Market Midday, Oct. 27: Tech Stocks Drive Momentum and SoFi Surges 15%

Source The Motley Fool

As of 11:41 AM ET, the S&P 500 (SNPINDEX:^GSPC) is up 0.61% to 7,723, the Nasdaq Composite (NASDAQINDEX:^IXIC) has climbed 1.08% to 26,458 as technology stocks lead the session, and the Dow Jones Industrial Average (DJINDICES:^DJI) is trading 0.16% higher at 52,447.

Gold is up 1.24% to $4,062.96, and the 10-Year Treasury yield edged down slightly to 4.99%. Technology and basic materials are the top-performing sectors, while consumer defensive and real estate stocks slipped.

Today's biggest moves

Royal Caribbean Group climbed 7.6% on stronger-than-expected third-quarter earnings and a full-year guidance raise. Cruise peers Norwegian Cruise Line and Carnival Corp. also gained. Tesla extended gains after a Barclays upgrade yesterday. Conversely, UniFirst and Cintas dropped on reports that the Federal Trade Commission plans to block their $5.5 billion merger.

SoFi Technologies surged 15% this morning after a third-quarter earnings beat driven by its consumer lending division, suggesting that demand for personal finance products remains robust despite high borrowing costs. Dell Technologies soared after it debuted new cybersecurity tools.

What this means for investors

Tech boosted major U.S. indexes this morning as investors returned to chipmakers and artificial intelligence (AI) stocks ahead of several megatech earnings later this week. Investors are laser-focused on capex spending and when those investments will start to deliver returns.

It will be a big news week: The Federal Reserve kicked off its two-day meeting today. While an October rate hike looks unlikely, tomorrow's press conference may give traders clues about monetary moves in the remainder of the year. Brace for a bumpy ride in the short term and watch for earnings resilience, especially in tech stocks, as that would suggest the AI cycle still has room to run.

Should you buy stock in SoFi Technologies right now?

Before you buy stock in SoFi Technologies, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SoFi Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $344,608!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,327,222!*

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*Stock Advisor returns as of October 27, 2026.

Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Tesla. The Motley Fool recommends Carnival Corp., Cintas, and Johnson & Johnson. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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