After initially falling to start the session, the Dow Jones Industrial Average rebounded in afternoon trading to gain about 200 points, or 0.6% after Federal Reserve officials suggested the recent surge in Treasury yields could lessen the need for further rate hikes to curb inflation. The 澳洲幸运5官方开奖结果体彩网:S&P 500 gained 0.6% and the Nasdaq moving higher by 0.4%.

Fed Vice Chair Philip N. Jefferson reportedly told economists at a National Association for Business Economics meeting in Dallas that the 澳洲幸运5官方开奖结果体彩网:Federal Open Market Committee was in a position to “proceed carefully” in advance of its Nov. 1 decision on interest rate, arguing that data on inflation and the job market were encouraging. Dallas Fed President Lorie Logan also suggested that the recent surge in yields "could do some of the work of cooling the economy for us, leaving less need for additional 澳洲幸运5官方开奖结果体彩网:monetary policy tightening."

Chevron (CVX) shares jumped 2.7% to lead the Dow higher as oil prices spiked amid expectations of higher demand and concerns conflict in the Middle East following Hamas’ attack on Israel could disrupt supply. The O✱rganization of the Petroleum Exporting Cou๊ntries (OPEC) raised its outlook for medium- and long-term 🍨global oil d🍒emand, pointing to growing demand in China, India, and other countries in Asia, Africa, and the Middle East.

Shares of the Walt Disney Company (DIS) gained 2.1% following reports that 澳洲幸运5官方开奖结果体彩网:activist investor Nelson Peltz, whose Trian Fund Management owns a $2.5 stake in the entertainment giant, would seek several seats on the company’s board.

Consumer staples were among the worst-performing constituents in the Dow 30, extending last week’s selloff amid worries that consumer spending would drop as economic conditions worsened. Following its worst week since May 2022, Coca-Cola (KO) shares continued to move lower, falling 0.5%. Shares of Procter & Gamble (PG) also lost about 0.5% and Walmart (WMT) shares dropped nearly 0.4%.

Financials were also under pressure, with American Express (AXP) shares declining 0.3%, Visa (V) shares falling 0.3%, and JPMorgan Chase (JPM) shares declining 0.2%. JPMorgan is scheꦇduled to report earnings on Friday.