Key Highlights

● Corporate earnings drove the day's biggest stock moves.

● AI infrastructure names like Vertiv and Oracle soared.

● Deal news drove big swings in smaller stocks.

● After-the-bell results split Microsoft and Alphabet sharply.

The Federal Reserve's decision dominated headlines, but the biggest moves across the broad US stock market came from corporate earnings. From AI infrastructure winners to buyout targets and guidance disappointments, company news drove the action across the thousands of stocks tracked by the broad market.

The Fed's decision itself delivered no shock, with the central bank leaving its benchmark rate range unchanged in a 10-2 vote, an outcome that was widely anticipated.

AI Infrastructure Stole the Show

Oracle jumped after its investor day set a fiscal 2030 revenue target of at least $225 billion and capped further fundraising, addressing worries about how it will finance its AI buildout. Vertiv soared after raising its guidance on surging data-center demand.

Memory stocks surged after South Korea's SK hynix reported a record quarter, and the chip index rose for a fourth straight session.

Big Swings on Company News

Ultralife more than doubled after EnerSys agreed to buy it in a cash deal, and Wendy's soared after a reported take-private proposal from Trian. Genmab rocketed after positive Phase 3 cancer trial results.

The biggest earnings stories arrived after the close, where Alphabet slid sharply after missing estimates and reporting negative free cash flow, while Microsoft rose on an Azure cloud beat, a split that illustrated how differently investors are treating individual AI spenders.