CNBC Business News Update: Wall Street Rally, Fed Decision Ahead, and the Busiest Week of Q3 Earnings

A CNBC business news update hosted by Jessica Edinger covering the latest session on Wall Street, the Federal Reserve's upcoming rate decision, and the busiest week of the Q3 earnings season. The report combines market data, corporate results, and economic indicators, with commentary from CNBC correspondents and an outside strategist.

■ Wall Street Recap
- Major averages closed higher, with the Dow, S&P 500, and Nasdaq all advancing.
- A chip stock rally lifted the Nasdaq, with several semiconductor makers posting notable gains.
- Boeing shares fell sharply after management commented on the pace of 737 MAX production during its earnings call, describing a stabilization period extending into early next year.

■ Fed Meeting and Economic Indicators
- The Federal Reserve is expected to hold interest rates steady in its post-meeting announcement.
- Consumer confidence came in at its highest level since June, above consensus expectations.
- Newly built home sales declined as mortgage rates rose through September, and oil prices pulled back with US crude returning below $100 a barrel.

■ Q3 Earnings Season
- Companies including Royal Caribbean Cruises, Coca-Cola, and UPS reported steady consumer spending despite inflation, fuel prices, and interest rates.
- A portfolio strategist discusses the equity risk premium relative to bond yields and ways to protect a portfolio.
- The upcoming earnings lineup includes Airbus, Biogen, Boston Scientific, GSK, GE Healthcare, Alphabet, FedEx, Ford, Microsoft, and Chipotle.

The update suits investors and market followers who want a compact briefing on current market drivers, corporate results, and macro data. Viewers can use it to understand what moved the markets, what policy and earnings events are next on the calendar, and where analysts are directing their attention.