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Economy, business and finance
Wall Street climbs as falling oil prices, bond yields lift market sentiment
Major US stock indexes moved higher on Thursday as a pullback in crude oil prices and lower Treasury yields improved investor sentiment following the Federal Reserve's latest interest-rate decision.
As of 1:04 p.m. Eastern Time, the S&P 500 climbed 1.1%, the Dow Jones Industrial Average was up 0.7%, and the Nasdaq composite was 1.7% higher.
At 09:38 a.m. ET, the Dow Jones Industrial Average rose 316.08 points, or 0.59%, to 51,763.46, the S&P 500 added 71.28 points, or 0.94%, to 7,623.09, and the Nasdaq Composite gained 321.49 points, or 1.25%, to 26,302.28.
Markets also drew support from confidence in Fed Chair Kevin Warsh after the central bank raised interest rates for the first time under his leadership. The decision indicated that policymakers remain focused on bringing inflation under control despite pressure from President Donald Trump for lower borrowing costs.
The Fed has also signalled that additional rate increases could be required in the months ahead if price pressures remain elevated.
"We have a Fed chair who has credibility this morning, which is important," said FHN Financial's Chris low. "He's a new guy, he proved he has what it takes to take inflation seriously."
Crude oil prices fell for a second straight session, providing some relief to investors concerned about the impact of elevated energy costs on inflation and economic growth.
Brent crude futures declined almost 3% to $102.90 a barrel, while US West Texas Intermediate crude futures fell 1.8% to $100.62.
Technology shares were among the stocks supporting the market's advance, with Nvidia and Amazon each gaining
nearly 2%.
Stocks connected to the cryptocurrency industry also advanced after US securities regulators announced a five-year exemption covering tokenised stock trading.
Robinhood and Circle Internet Group each gained around 3.5%, while Coinbase rose about 1.2%.
Shares of so-called neocloud companies also recorded gains during Thursday's session.
Nebius and IREN were both up roughly 1.4%.
Fluence Energy shares dropped more than 16% after the company reduced its revenue forecast for fiscal 2026.
As of 9:11 a.m. EDT (1311 GMT), spot gold was up 2.4% at $4,364.29 per ounce. US gold futures for December delivery rose 0.4% to $4,404.80.
Among other metals, spot silver rose 3.9% to $65.44 per ounce, platinum gained 2.1% to $1,787.68 and palladium climbed 2.2% to $1,296.86.
With a distinguished career spanning nearly two decades at the highest levels of financial journalism, Rajendra Kumar Saxena stands as a cornerstone of the editorial leadership team at Livemint.com. In his current capacity as Content Editor, he is responsible for managing the comprehensive editorial lifecycle of the publication. His role is multifaceted, encompassing the strategic selection of high-impact stories, original reporting, and meticulous editing. <br> Furthermore, Rajendra is instrumental in executing a sophisticated Search Engine Optimization (SEO)-driven content strategy, ensuring that the platform's digital content reaches a global audience while maintaining the highest standards of journalistic integrity and accuracy prior to publication. <br> Rajendra’s professional journey is characterized by a profound expertise in a wide array of critical sectors. His analytical depth covers global economics, commodities, and stock market dynamics (across both Indian and United States landscapes). <br> Beyond the financial markets, he possesses a keen understanding of political affairs, banking and finance, foreign affairs, and the rapidly evolving technology sector. <br> His eighteen years journey in financial and business journalism includes a significant tenure at Financialexpress.com and freelance contributions to The Hindu. <br> Currently based in Delhi, Rajendra holds a Master of Journalism degree from the prestigious Makhanlal Chaturvedi National University of Journalism and Communication (MCNUJC). His blend of academic rigor and decades of on-the-ground experience makes him a leading voice in navigating the complexities of today’s financial world.